Choose the version of this loan that suits you best
Availability | Loan type | LVR | Min loan amount | Max loan amount | |
---|---|---|---|---|---|
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Owner Occupier | Principal & Interest | < 95% | $20,000 | |
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Owner Occupier | Interest Only | < 80% | $20,000 | |
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Investor | Principal & Interest | < 95% | $20,000 | |
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Investor | Interest Only | < 80% | $20,000 |
If you're after a variable rate home loan from one of the Big 4 Banks, the NAB Base Variable Home Loan has low variable rates starting from 6.84% (6.88% comparison rate*), no monthly fees and great flexibility whether you're looking for your first home, an investment property, or downsizing or upsizing your current home.
The Base Variable Home Loan is an easy to manage home loan. There are no monthly fees to worry about and you can tailor your repayments to suit your lifestyle. If you choose to make interest and principal repayments you can opt for weekly, fortnightly or monthly repayments. There is also an interest only option (for up to 5 years) for investors and owner-occupiers but you can only pay monthly (in arrears) if you choose this.
You can make additional payments for free and if you need the cash at a later point in time you can redraw anytime for free but the minimum redraw amount is $2,000. The good thing about getting ahead in your repayments is that with the Base Variable Home Loan you can take a repayment holiday if you need due to family or personal reasons for a period of time.
The 6.84% interest rate (6.88% comparison rate*) is available whether you are borrowing $20,000 or $2 million as there is no maximum loan amount and is available when borrowing up to 95% of the property value (keep in mind lenders mortgage insurance will be required for anything over 80%).
There is also a split option available if you want to split the loan between the Base Variable and another NAB home loan such as a fixed rate loan.
Anyone who is looking for an easy to manage home loan and likes the security of a Big 4 Bank.
As with all variable rate loans rates are likely to move at some point in the future so be sure to keep an eye on the interest rates and switch again if you aren't getting a good deal.
6.84% p.a. |
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n/a |
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n/a |
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n/a |
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6.88% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$350.00 |
$20,000 |
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none |
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none |
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95.00% |
Owner Occupier |
|
Principal & Interest |
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Weekly, Fortnightly, Monthly |
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yes - free |
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yes |
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yes - free |
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$500.00 |
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yes |
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no |
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none |
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33% Discount on Lenders Mortgage Insurance available to First Home Buyers. |
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none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
7.94% p.a. |
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n/a |
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n/a |
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n/a |
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7.37% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$350.00 |
$20,000 |
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none |
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none |
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80.00% |
Owner Occupier |
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Interest Only |
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Monthly |
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yes - free |
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yes |
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yes - free |
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$500.00 |
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yes |
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no |
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none |
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none |
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none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
7.36% p.a. |
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n/a |
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n/a |
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n/a |
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7.41% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$350.00 |
$20,000 |
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none |
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none |
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95.00% |
Investor |
|
Principal & Interest |
|
Weekly, Fortnightly, Monthly |
|
yes - free |
|
yes |
|
yes - free |
|
$500.00 |
|
yes |
|
no |
|
none |
|
none |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
8.27% p.a. |
|
n/a |
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n/a |
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n/a |
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7.81% p.a. |
|
n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
$0.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$350.00 |
$20,000 |
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none |
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none |
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80.00% |
Investor |
|
Interest Only |
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Monthly |
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yes - free |
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yes |
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yes - free |
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$500.00 |
|
yes |
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no |
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none |
|
none |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Not many branches local to my specific area, long waiting times on the phone customer service. However, each time I have called the operator has been quite knowledgeable and able to answer all queries.
Read full reviewNot many branches local to my specific area, long waiting times on the phone customer service. However, each time I have called the operator has been quite knowledgeable and able to answer all queries.
Haven’t had any issues in the few years we have been with them
Read full reviewHaven’t had any issues in the few years we have been with them
We’ve been with NAB for a number of years now and have never had major issues. I feel they are proactive and provide good communication.
Read full reviewWe’ve been with NAB for a number of years now and have never had major issues. I feel they are proactive and provide good communication.
Do not look after long term clients. The only correspondence is to say you loan payment has increased.
Read full reviewDo not look after long term clients. The only correspondence is to say you loan payment has increased.
The base variable loan is a fine product but very basic..the minimum rate is much higher than other banks. You can get discounted rates if you swap to a different product, pay a monthly fee, and have an LVR of at least 60%.
Read full reviewThe base variable loan is a fine product but very basic..the minimum rate is much higher than other banks. You can get discounted rates if you swap to a different product, pay a monthly fee, and have an LVR of at least 60%.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.