NAB Base Variable Rate Home Loan

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan of at least $20,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $20,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest loan of at least $20,000 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan of at least $20,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan of at least $20,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $20,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-95%

    Loan: $20,000

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $20,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $20,000

  • Investor (Principal & Interest)

    LVR < 95%

    Loan: $20,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $20,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $20,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $20,000

3.20% p.a.

3.20% p.a.

$0.00

NAB Base Variable Rate Home Loan

3.20% p.a.

3.20% p.a.

$0.00

3.40% p.a.

3.40% p.a.

$0.00

NAB Base Variable Rate Home Loan

3.40% p.a.

3.40% p.a.

$0.00

3.70% p.a.

3.70% p.a.

$0.00

NAB Base Variable Rate Home Loan

3.70% p.a.

3.70% p.a.

$0.00

4.27% p.a.

3.92% p.a.

$0.00

NAB Base Variable Rate Home Loan

4.27% p.a.

3.92% p.a.

$0.00

4.22% p.a.

4.22% p.a.

$0.00

NAB Base Variable Rate Home Loan

4.22% p.a.

4.22% p.a.

$0.00

3.70% p.a.

3.70% p.a.

$0.00

NAB Base Variable Rate Home Loan

3.70% p.a.

3.70% p.a.

$0.00

3.50% p.a.

3.50% p.a.

$0.00

NAB Base Variable Rate Home Loan

3.50% p.a.

3.50% p.a.

$0.00

3.65% p.a.

4.00% p.a.

$0.00

NAB Base Variable Rate Home Loan

3.65% p.a.

4.00% p.a.

$0.00

Mozo Review   NAB Base Variable Rate Home Loan Review

Last updated: 1 November 2019.

What's hot:
  • Variable rates from 3.20% (3.20% comparison rate*)

  • Borrow up to 95% LVR

  • No monthly fees

What's not:
  • $2000 min redraw

Mozo snapshot:

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 3.20% (3.20% comparison rate*) for borrowers with at least a 20% deposit, no monthly fees and great flexibility whether you're looking for your first home, an investment property, or downsizing or upsizing your current home.

Key features:

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 $2000. 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 3.40% interest rate (3.40% 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%). To snag the lower 3.20% interest rate (3.20% comparison rate*), you'll need to be borrowing a maximum of 80% of the property's value - that means saving up a bigger deposit.

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.

Who it's good for:

Anyone who is looking for an easy to manage home loan and likes the security of a Big 4 Bank.

Any catches?

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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.20% p.a.

  • n/a

  • n/a

  • n/a

  • 3.20% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.40% p.a.

  • n/a

  • n/a

  • n/a

  • 3.40% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • 80.00%

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.70% p.a.

  • n/a

  • n/a

  • n/a

  • 3.70% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • none

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 4.27% p.a.

  • n/a

  • n/a

  • n/a

  • 3.92% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 4.22% p.a.

  • n/a

  • n/a

  • n/a

  • 4.22% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • none

  • 95.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.70% p.a.

  • n/a

  • n/a

  • n/a

  • 3.70% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • 80.00%

  • 90.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.50% p.a.

  • n/a

  • n/a

  • n/a

  • 3.50% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.65% p.a.

  • n/a

  • n/a

  • n/a

  • 4.00% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $20,000

  • none

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes

  • $500.00

  • yes

  • no

  • none

  • none

  • Receive $2,000 cashback when refinancing an existing loan of $250,000 or more and holding a NAB transaction account. Drawdown must occur by 31 December 2019. Terms and conditions apply.

*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.

Customer Reviews

How are NAB home loans rated by the Mozo community?

Overall customer rating
6.8/10

Based on 2802 NAB home loan reviews

Price
6.6/10
Features
6.4/10
Customer service
6.6/10
Convenience
7.3/10
Trust
6.6/10

Latest reviews of NAB Base Variable Rate Home Loan

  • Overall
    8/10
    Simple.

    NAB is convenient and simple. I dont want anything overcomplicated or complex. Lets keep these...

    NAB is convenient and simple. I dont want anything overcomplicated or complex. Lets keep these things simple.

    Price
    8/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    8/10

    Paige | New South Wales

    reviewed 4 days ago

  • Overall
    7/10
    Generally meets my current needs.

    Low rates. Internet banking. Missing an offset account but can still redraw.

    Low rates. Internet banking. Missing an offset account but can still redraw.

    Price
    10/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    8/10
    Trust
    4/10

    Ronda | Victoria

    reviewed 4 days ago

  • Overall
    5/10
    One of the better Big 4 banks.

    They are ok, but they need to be more diligent. They never call back when a message is left to...

    They are ok, but they need to be more diligent. They never call back when a message is left to call back.

    Price
    3/10
    Features
    5/10
    Customer service
    4/10
    Convenience
    5/10
    Trust
    5/10

    Bryson | New South Wales

    reviewed 7 days ago

  • Overall
    7/10
    High Interest Rates, Great Flybuys & Offset!

    I like having the offset account which works in with our home loan account, reducing our...

    I like having the offset account which works in with our home loan account, reducing our interest. We also have it setup so that our NAB Flybuys Credit Card gets paid off each month (accruing no interest) but gaining us free groceries and also effectively offsets our mortgage as well. I don't like that the interest rate is much higher than other banks. I have tried negotiating with the bank recently to reduce our rate but they won't budge, though they have moved a little in the past. I would likely refinance only we don't have much left on our mortgage now and it wouldn't be worthwhile.

    Price
    5/10
    Features
    9/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    7/10

    Michelle | Queensland

    reviewed 7 days ago

  • Overall
    2/10
    Easy to use online.

    Were led to believe that we received a cheaper interest rate when it increased 'suddenly' after...

    Were led to believe that we received a cheaper interest rate when it increased 'suddenly' after we signed up.

    Price
    2/10
    Features
    2/10
    Customer service
    0/10
    Convenience
    4/10
    Trust
    0/10

    Sandy | New South Wales

    reviewed 10 days ago

NAB

About NAB

National Australia Bank is one of the big four banks who provide a large variety of financial products to the Australian Community. In recent times NAB has set itself apart from the other big four banks; by expanding their ATM network, removing many fees and maintaining low standard variable home loan rates. NAB's changes to its financial products have made their home loan, credit card, loans, savings accounts and personal loans more competitive within the banking industry.

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Reduce Home Loans

Rate Buster High Lend Variable

2.77% p.a.

2.78% p.a.

$0.00

Promoted

Tic:Toc

Tic:Toc

Variable Home Loan

2.84% p.a.

2.85% p.a.

$0.00

Promoted

IMB Bank

IMB Bank

Budget Home Loan

3.18% p.a.

3.24% p.a.

$0.00

Promoted

Heritage Bank

Heritage Bank

Discount Variable Home Loan

3.07% p.a.

3.09% p.a.

$0.00

Promoted

Suncorp

Suncorp

Back to Basics

3.03% p.a.

3.04% p.a.

$0.00

*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.