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NAB home loans

National Australia Bank is a financial services organisation and one of Australia’s big four banks with a history spanning more than 120 years. Currently, the NAB Group provides financial products and services to 12.7 million across more than 1700 stores and business banking centres globally.

If you value a home loan provider with experience, a NAB home loan might be the right choice for you. In that case, you can stick around and have a read of everything you need to know about a NAB home loan from what home loans available and the features you should keep an eye out for to how real NAB customers rate their home loan.

What home loans do NAB offer?

Rates and fees verified as correct at 24 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

The fixed rate option from NAB is a great choice if you don’t like any surprises when it comes to your home loan repayments. It is available on loans with a minimum amount of $20,000 (up to a maximum 95% LVR) and allows you to lock in a rate from 1 year up to a period of 5 years. You’ll be charged a monthly service fee but you’ll get plenty of flexibility in terms of loan repayment options including a split loan facility, interest only payment options and the ability to make up to $20,000 in extra repayments during the fixed rate period without incurring any costs. Ensure you only make extra repayments when you can afford it because you won’t have the opportunity to redraw at a later date. For added certainty, you can take advantage of the loan’s rate lock feature which allows you to secure the quoted interest rate at the time of loan approval for up to 3 months (fees apply).

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.68% p.a.

4.85% p.a.

$8.00 monthly

$600

2.39% p.a.

4.10% p.a.

$8.00 monthly

$600

2.69% p.a.

4.76% p.a.

$8.00 monthly

$600

2.69% p.a.

4.61% p.a.

$8.00 monthly

$600

Variable Rate Home Loans

If you prefer a variable home loan, NAB offers a basic, no frills loan or a full featured variable loan with a choice of principal and interest or interest only payment options. NAB’s variable loans are available from $20,000 and allow you to borrow up to 95% of your property’s value. You can choose a repayment frequency (weekly, fortnightly or monthly) to match your pay cycle and make additional repayments whenever you have any spare change. If you need to free up funds in the future, you can use the redraw facility (minimum redraw $500) or opt for a repayment holiday. You will need to pay a monthly service charge with the full featured option but you’ll be able to take advantage of the loan’s offset account to help you save in interest over the term of your loan.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.02% p.a.

3.67% p.a.

$0.00

$0

3.45% p.a.

3.45% p.a.

$0.00

$0

2.69% p.a.

2.69% p.a.

$0.00

$0

3.04% p.a.

3.04% p.a.

$0.00

$0

5.09% p.a.

4.87% p.a.

$8.00 monthly

$600

4.52% p.a.

4.65% p.a.

$8.00 monthly

$600

3.97% p.a.

3.97% p.a.

$0.00

$0

3.29% p.a.

3.71% p.a.

$0.00

$0

3.09% p.a.

3.09% p.a.

$0.00

$0

3.34% p.a.

3.34% p.a.

$0.00

$0

5.42% p.a.

5.36% p.a.

$8.00 monthly

$600

5.12% p.a.

5.25% p.a.

$8.00 monthly

$600

Fixed Package Home Loan

The fixed rate Choice Package is available from NAB with a minimum borrowing amount of $20,000. For an annual package fee, you’ll be spoilt for choice when it comes to the benefits you’ll receive, including discounted lending rates and waived fees on your home loan and credit card. Depending on your circumstances you may also be eligible for insurance and margin lending benefits. The package has an extensive range of flexible features including an extra repayments facility up to $20,000 and repayment holidays.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.58% p.a.

4.46% p.a.

$395.00 yearly

$0

3.58% p.a.

4.60% p.a.

$395.00 yearly

$0

3.58% p.a.

4.43% p.a.

$395.00 yearly

$0

2.29% p.a.

3.73% p.a.

$395.00 yearly

$0

2.29% p.a.

3.69% p.a.

$395.00 yearly

$0

2.29% p.a.

3.91% p.a.

$395.00 yearly

$0

2.59% p.a.

4.62% p.a.

$395.00 yearly

$0

2.59% p.a.

4.44% p.a.

$395.00 yearly

$0

2.59% p.a.

4.41% p.a.

$395.00 yearly

$0

2.59% p.a.

4.41% p.a.

$395.00 yearly

$0

2.59% p.a.

4.23% p.a.

$395.00 yearly

$0

2.59% p.a.

4.20% p.a.

$395.00 yearly

$0

Variable Package Home Loan

If you’re after even more flexibility in your home loan, take a look at the variable rate alternative of NAB’s Choice Package. Also available for loans above $20,000, it comes with all the benefits and features of the fixed rate option, but with a couple of extras. You’ll also get unlimited extra repayments and the option to use an offset account to help you pay off your home loan faster. You can also choose either an interest only repayment option, or interest and principal repayments. If you’re likely to be redrawing money from your loan that’s fine, but be aware that there is a minimum redraw amount of $500.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.49% p.a.

4.51% p.a.

$395.00 yearly

$0

4.24% p.a.

4.26% p.a.

$395.00 yearly

$0

4.19% p.a.

4.21% p.a.

$395.00 yearly

$0

3.67% p.a.

4.08% p.a.

$395.00 yearly

$0

3.62% p.a.

4.03% p.a.

$395.00 yearly

$0

3.92% p.a.

4.32% p.a.

$395.00 yearly

$0

4.82% p.a.

5.00% p.a.

$395.00 yearly

$0

4.57% p.a.

4.75% p.a.

$395.00 yearly

$0

4.52% p.a.

4.70% p.a.

$395.00 yearly

$0

4.52% p.a.

4.91% p.a.

$395.00 yearly

$0

4.27% p.a.

4.67% p.a.

$395.00 yearly

$0

4.22% p.a.

4.62% p.a.

$395.00 yearly

$0

*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.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

NAB home loan features in a glance

Image of coins

Offset account

Saving on your interest payments is easy with an offset account available as part of NAB’s standard variable loan.

Repayment Icon

Extra repayments

Reduce the term of your loan and interest payments by making additional repayments whenever your budget allows. Good thing, NAB’s fixed and variable loan options have an extra repayment facility (maximum $20,000 for fixed rate option).

Repayment Icon

Weekly, fortnightly and monthly repayments

Don’t get paid weekly? No sweat! You can also choose to pay your loan back on a fortnightly or monthly basis.

Home loan icon

Split loan facility

Can’t make up your mind between a fixed or variable rate? NAB’s fixed, variable and line of credit loans have a split loan facility which allows you to combine a fixed and variable rate into one loan and get the best of both worlds.

Rate icon

Rate lock

If you’re worried about an interest rate hike just before your loan drawdown date, you can opt for the rate lock feature available with NABs fixed rate loan. This way you can secure the quoted interest rate at the time of loan approval for a period up to 90 days. You may need to pay a fee.

How are NAB home loans rated?

Mozo users have rated NAB home loan on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
NAB home loans
Overall
6.7/10
Price
Features
Customer service
Convenience
Trust
2884 reviews

Recent NAB home loan reviews

NAB Home Loan review
Overall 8/10
Excellent customer service

Customer service has been wonderful all throughout the bank, personal and business banking. Especially in times of hardship.

Read full review

Customer service has been wonderful all throughout the bank, personal and business banking. Especially in times of hardship.

Customer service
10/10
Convenience
7/10
Trust
8/10
Less
Leiane, New South Wales reviewed about 13 hours ago
NAB Tailored Home Loan (Fixed, Choice Package) review
Overall 4/10
Poor support in times of crisis

Not much support available when you need it. For a choice package there really wasnt any great bonus that came with it.

Read full review

Not much support available when you need it. For a choice package there really wasnt any great bonus that came with it.

Price
7/10
Features
3/10
Customer service
2/10
Convenience
6/10
Trust
3/10
Less
Mel, Victoria reviewed 4 days ago
NAB Home Loan review
Overall 7/10
Would recommend NAB.

Dealt with one bank manager, quick reply to emails or phone messages, treated like a person.

Read full review

Dealt with one bank manager, quick reply to emails or phone messages, treated like a person.

Price
7/10
Features
5/10
Customer service
7/10
Convenience
7/10
Trust
8/10
Less
Jeanne, Western Australia reviewed 6 days ago
NAB Base Variable Rate Home Loan review
Overall 5/10
May be better option out there.

Don't inform you when interest rates drop. I haven't heard from them in 5 years to check in or see if I was ok with everything unless I have a question.

Read full review

Don't inform you when interest rates drop. I haven't heard from them in 5 years to check in or see if I was ok with everything unless I have a question.

Price
4/10
Features
4/10
Customer service
7/10
Convenience
4/10
Trust
4/10
Less
Toni, Queensland reviewed 9 days ago
NAB Tailored Home Loan review
Overall 1/10
Terrible Customer service and don't solve issues

They mislead their customer with wrong information through their customer service and traps you into corners which doesnt give you any option. Only the bank benefits. Contacting customer service takes about 1 to 2 hours on hold till you get some to talk too. The worst Bank to deal with.

Read full review

They mislead their customer with wrong information through their customer service and traps you into corners which doesnt give you any option. Only the bank benefits. Contacting customer service takes about 1 to 2 hours on hold till you get some to talk too. The worst Bank to deal with.

Price
2/10
Features
1/10
Customer service
1/10
Convenience
6/10
Trust
1/10
Less
John, South Australia reviewed 15 days ago

What do you need to apply for a NAB home loan?

You can apply for a home loan with NAB online, via phone or in person at your local branch. To do this, you’ll need the following details and documentation at ready:

  • 100 points of identification - One primary photographic (i.e. passport, driver’s licence) or one primary non-photographic (i.e. birth certification) and one secondary document (i.e. Medicare card)
  • Income - Current bank statement showing last two salary payments and employer’s name and evidence of rental income, government income, shares, superannuation and self employed or trust income
  • Assets - Properties, existing investments and bank accounts
  • Financial Liabilities- Existing loans, credit cards and store cards

Depending on your circumstances, you may also need to provide: 

  • First Home Owner’s Grant application
  • Property solicitor’s/conveyancer’s details
  • Copy of Full Contract of Sale for property
  • Copy of Transfer of Land
  • Joint applicant or guarantor’s details

Home loan quick links