7.5 / 10

based on 20981 NAB reviews as rated by Mozo community

NAB home loans

One of Australia’s big four banks, National Australia Bank is a financial services organisation with a history spanning more than 120 years. It currently provides financial products and services to more than 9 million customers at over 900 locations across Australia, New Zealand and around the world.

If you value a home loan provider with experience, a NAB home loan might be the right choice for you. Below, we’ve compiled all the information you’ll need, 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 14 April, 2021. 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 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

3.69% p.a.

4.52% p.a.

$8.00 monthly

$600

2.08% p.a.

4.02% p.a.

$8.00 monthly

$600

2.69% p.a.

4.76% p.a.

$8.00 monthly

$600

2.54% p.a.

4.57% 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 get access to several benefits, 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

3.59% p.a.

4.60% p.a.

$395.00 yearly

$0

3.59% p.a.

4.43% p.a.

$395.00 yearly

$0

3.59% p.a.

4.47% p.a.

$395.00 yearly

$0

1.98% p.a.

3.83% p.a.

$395.00 yearly

$0

1.98% p.a.

3.65% p.a.

$395.00 yearly

$0

1.98% p.a.

3.62% p.a.

$395.00 yearly

$0

2.59% p.a.

4.41% p.a.

$395.00 yearly

$0

2.59% p.a.

4.44% p.a.

$395.00 yearly

$0

2.59% p.a.

4.62% p.a.

$395.00 yearly

$0

2.44% p.a.

4.37% p.a.

$395.00 yearly

$0

2.44% p.a.

4.19% p.a.

$395.00 yearly

$0

2.44% p.a.

4.16% 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 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.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

4.19% p.a.

4.21% p.a.

$395.00 yearly

$0

4.24% p.a.

4.26% p.a.

$395.00 yearly

$0

4.49% p.a.

4.51% 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

3.67% p.a.

4.08% p.a.

$395.00 yearly

$0

4.52% p.a.

4.70% p.a.

$395.00 yearly

$0

4.57% p.a.

4.75% p.a.

$395.00 yearly

$0

4.82% p.a.

5.00% p.a.

$395.00 yearly

$0

4.22% p.a.

4.62% p.a.

$395.00 yearly

$0

4.27% p.a.

4.67% p.a.

$395.00 yearly

$0

4.52% p.a.

4.91% p.a.

$395.00 yearly

$0

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

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

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.

Deposit 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 NAB's 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, though fees may apply.

How are NAB home loans rated?

Mozo users have rated NAB home loans 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

2906 Reviews

Recent NAB home loan reviews

NAB Tailored Home Loan review
Overall 7/10
Great package but poor service.

I got this loan through a trusted 3rd party broker and the local NAB branch don't want anything to do with me. When I go into the local branch for a query they just refer me to their loans help line. The 3rd party broker was much more helpful.

Read full review

I got this loan through a trusted 3rd party broker and the local NAB branch don't want anything to do with me. When I go into the local branch for a query they just refer me to their loans help line. The 3rd party broker was much more helpful.

Price
9/10
Features
9/10
Customer service
3/10
Convenience
6/10
Trust
6/10
Less
Lee, Western Australia, reviewed 5 days ago
NAB Home Loan review
Overall 6/10
Now annual fee & easy redrraw

No annual fee, easy redraw although probably not the most competitive rate. Have gone the motions of refinancing elsewhere however it’s a really convoluted process to change all auto payments etc.

Read full review

No annual fee, easy redraw although probably not the most competitive rate. Have gone the motions of refinancing elsewhere however it’s a really convoluted process to change all auto payments etc.

Price
5/10
Features
7/10
Customer service
10/10
Convenience
10/10
Trust
7/10
Less
Fiona, Queensland, reviewed 30 days ago
NAB Home Loan review
Overall 1/10
Terrible

Terrible customer service. Long waiting & kept getting cut out from their end. Never returned calls or appointment call either

Read full review

Terrible customer service. Long waiting & kept getting cut out from their end. Never returned calls or appointment call either

Price
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Germaine, New South Wales, reviewed 30 days ago
NAB Home Loan review
Overall 10/10
Highly recommend. Best customer service. AAA+

NAB have been excellent for us. First time home buyer, we tried for home loan through our usual bank. Gave us such a hard time even though we had 20% deposit. Tried NAB, had the loan within 7 days. Customer service over the phone was amazing, went above and beyond to help. Shout out to Josh and Kathryn from Melbourne branch, you were both amazing. Interest rates are awesome :)

Read full review

NAB have been excellent for us. First time home buyer, we tried for home loan through our usual bank. Gave us such a hard time even though we had 20% deposit. Tried NAB, had the loan within 7 days. Customer service over the phone was amazing, went above and beyond to help. Shout out to Josh and Kathryn from Melbourne branch, you were both amazing. Interest rates are awesome :)

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Ruth, Victoria, reviewed about 1 month ago
NAB Home Loan review
Overall 1/10
Not happy.

We had our home loan with NAB. We were looking at refinancing to get a better interest rate and a little more money to do renos on the house. Was told no straight away, even though we have been paying more money onto the loan and have never been behind in payments. They didn't even have a look to see if we could or couldn't do it. Also we didn't change anything throughout COVID-19, still paid the some every fortnight. We have been with NAB for over 10 years and no help, the customer service was so bad I have made a complaint. We have gone with another company and NAB bank made the settlement go on for over month. They kept on saying we need more time with all the paperwork, which they had in time of the settlement. Both myself and the other bank put it down to they want the monthly interest rate that they were going to miss out on.

Read full review

We had our home loan with NAB. We were looking at refinancing to get a better interest rate and a little more money to do renos on the house. Was told no straight away, even though we have been paying more money onto the loan and have never been behind in payments. They didn't even have a look to see if we could or couldn't do it. Also we didn't change anything throughout COVID-19, still paid the some every fortnight. We have been with NAB for over 10 years and no help, the customer service was so bad I have made a complaint. We have gone with another company and NAB bank made the settlement go on for over month. They kept on saying we need more time with all the paperwork, which they had in time of the settlement. Both myself and the other bank put it down to they want the monthly interest rate that they were going to miss out on.

Price
2/10
Features
2/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Sonia, Queensland, reviewed about 1 month 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