NAB home loans

NAB
NAB's overall rating for home loans

(as rated by the Mozo community)

7.2 / 10

based on 864 reviews

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 an 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.

NAB also took out two 2016 Mozo Experts Choice Awards, for Best Value Major Bank Variable Home Loan and Best Value Major Bank First Home Loan.

Rates and fees verified as correct at 10 December, 2016. Other information correct at the time of writing.

What home loans do NAB offer?

Fixed Rate Home Loans 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 ‡

3.99% p.a.

5.23% p.a.

$8.00 monthly

$600

3.99% p.a.

5.15% p.a.

$8.00 monthly

$600

3.99% p.a.

5.12% p.a.

$8.00 monthly

$600

3.99% p.a.

5.05% p.a.

$8.00 monthly

$600


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Variable Rate Home Loans 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 ‡  

4.78% p.a.

4.83% p.a.

$0.00

$600

Go to site

4.25% p.a.

4.29% p.a.

$0.00

$600

Go to site

4.63% p.a.

4.68% p.a.

$0.00

$600

Go to site

4.10% p.a.

4.14% p.a.

$0.00

$600

Go to site

5.50% p.a.

5.64% p.a.

$8.00 monthly

$600

5.40% p.a.

5.54% p.a.

$8.00 monthly

$600

5.35% p.a.

5.49% p.a.

$8.00 monthly

$600

5.25% p.a.

5.39% p.a.

$8.00 monthly

$600


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Fixed Package Home Loan 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 ‡  

3.89% p.a.

5.01% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.84% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.80% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.94% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.76% p.a.

$395.00 yearly

$0

3.89% p.a.

4.73% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.73% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.91% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.69% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.66% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.62% p.a.

$395.00 yearly

$0

Go to site

3.89% p.a.

4.84% p.a.

$395.00 yearly

$0

Go to site

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Variable Package Home Loan 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 ‡  

4.90% p.a.

5.28% p.a.

$395.00 yearly

$0

Go to site

4.65% p.a.

5.04% p.a.

$395.00 yearly

$0

Go to site

4.60% p.a.

4.99% p.a.

$395.00 yearly

$0

Go to site

4.80% p.a.

5.19% p.a.

$395.00 yearly

$0

Go to site

4.55% p.a.

4.94% p.a.

$395.00 yearly

$0

Go to site

4.50% p.a.

4.89% p.a.

$395.00 yearly

$0

Go to site

4.75% p.a.

5.13% p.a.

$395.00 yearly

$0

Go to site

4.50% p.a.

4.89% p.a.

$395.00 yearly

$0

Go to site

4.45% p.a.

4.84% p.a.

$395.00 yearly

$0

Go to site

4.40% p.a.

4.79% p.a.

$395.00 yearly

$0

Go to site

4.35% p.a.

4.74% p.a.

$395.00 yearly

$0

Go to site

4.65% p.a.

5.04% p.a.

$395.00 yearly

$0

Go to site

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Line of Credit Line of Credit

Are you looking to build up your future assets? NAB’s Flexiplus Mortgage is a standard line of credit loan that allows you to borrow up to 90% LVR which can be put towards purchasing shares, an investment property or your home renovation without needing to apply for extra funds. There is a yearly service fee to consider but like most line of credit loans you can withdraw at any time up to the facility limit and you only pay interest on what you’ve used. Plus, you can make repayments at any time so long as you’ve covered any interest charges.

Product Rate Comparison Rate* Service fee Upfront fee

5.69% p.a.

n/a

$250.00 yearly

$600

5.11% p.a.

n/a

$550.00 yearly

$0

5.01% p.a.

n/a

$550.00 yearly

$0

4.91% p.a.

n/a

$550.00 yearly

$0

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NAB home loan features in a glance

Offset accountOffset account

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

Extra repaymentsExtra 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).

Weekly, fortnightly and monthly repaymentsWeekly, 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.

Split loan facilitySplit 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 lockRate 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?

If you’re liking what you hear but just need a little extra convincing, head on over to our rate and review service where you’ll find hundreds of home loan reviews from real NAB customers for you to read.

NAB home loans

Overall 7.2*

Price

Features

Customer service

Convenience

Trust

864 Reviews

* Overall rating based on reviews in the past 12 months.

Recent NAB home loan reviews Recent NAB home loan reviews

NAB

NAB home loan review

Overall rating   7 / 10

Easy online banking and reasonable rates

I primarily like this bank - Good online facility (rarely need to visit branch) - Available staff when needed (not frequently)- Drop interest rates when reserve bank does

Full review

I primarily like this bank - Good online facility (rarely need to visit branch) - Available staff when needed (not frequently)- Drop interest rates when reserve bank does

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   5 / 10

Less

Jennifer (NSW), reviewed 4 months ago

NAB

NAB Tailored Home Loan (Owner Occupier, Principal & Interest) (Choice Package) home loan review

Overall rating   9 / 10

Understanding people

Helped us with what we needed

Full review

Helped us with what we needed

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   -1 / 10

    Trust   9 / 10

Less

Allan (SA), reviewed 5 months ago

NAB

NAB home loan review

Overall rating   10 / 10

Do tell friends and family of supportive network.

NAB staff very reassuring and helpful.

Full review

NAB staff very reassuring and helpful.

    Price   9 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Liliana (VIC), reviewed 5 months ago

NAB

NAB home loan review

Overall rating   10 / 10

Excellent services and a pleasure to deal with

Never have any problems if I call or go to a branch, delightful customers service. Internet banking is fantastic. Had another bank trying to get us too change from the NAB so I rang and they better the offer of the other bank. Very happy

Full review

Never have any problems if I call or go to a branch, delightful customers service. Internet banking is fantastic. Had another bank trying to get us too change from the NAB so I rang and they better the offer of the other bank. Very happy

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Tony (VIC), reviewed 6 months ago

NAB

NAB Base Variable Rate Home Loan (Owner Occupier, Principal & Interest) home loan review

Overall rating   8 / 10

Great customer service

I like them because they always do what I ask them with great efficiency

Full review

I like them because they always do what I ask them with great efficiency

    Price   7 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Darryl (VIC), reviewed 6 months ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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