NAB Base Variable Rate Home Loan

4.17% p.a.

4.22% p.a.

$0.00

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4.70% p.a.

4.75% p.a.

$0.00

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4.65% p.a.

4.70% p.a.

$0.00

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5.18% p.a.

5.23% p.a.

$0.00

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NAB Base Variable Rate Home Loan Review

Rates and fees information correct as at 25 June 2017.

Review published: 21 July 2014

What's hot:

  • No monthly fees

  • Borrow up to 95% LVR

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 4.17%, no monthly fees and great flexibility to suit borrowers whether they're looking for their first home, an investment property, downsizing or upsizing their 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 4.17% interest rate is available whether you are borrowing $20,000 or $2 million as there is no maximum loan amount. With this loan you can also borrow up to 95% of the property value but 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.

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.

How are NAB home loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.2

Based on 864
NAB home loans reviews

7.0 6.8 7.1 7.5 7.2

Read NAB home loan reviews by the Mozo community

Latest reviews of NAB Base Variable Rate Home Loan

NAB

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

Overall rating   7 / 10

Extremely helpful in times of need

They have helped in times of need with very little fuss and never made me feel uncomfortable.

They have helped in times of need with very little fuss and never made me feel uncomfortable.

    Price   8 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

Less

Corinne (NSW), reviewed 3 months ago

NAB

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

Overall rating   10 / 10

Easy to navigate website and applications

I have been with NAB for a long time and they have always provided top customer service.

I have been with NAB for a long time and they have always provided top customer service.

    Price   10 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

Less

Kim (WA), 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

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 about 1 year ago

NAB

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

Overall rating   7 / 10

Happy with them

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Maree (QLD), reviewed about 1 year ago

NAB

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

Overall rating   5 / 10

You can do better.

I have had a mortgage with NAB since 2008, but can't say I think much of their customer service. In the past I have had to repeatedly follow up to make sure things progress. They have been so slow on one occasion it took over four months to get a...

I have had a mortgage with NAB since 2008, but can't say I think much of their customer service. In the past I have had to repeatedly follow up to make sure things progress. They have been so slow on one occasion it took over four months to get a fixed rate locked in, which is beyond ridiculous. Minor requests have also often not been actioned correctly. That said, the customer service people have always been really nice, which is a positive because the same cannot be said of many organisations. Overall the product is just okay. Other organisations offer better rates and the customer service is decent but the follow-through and accuracy are frequently sub par, but you have the safety of a large bank.

    Price   6 / 10

    Features   6 / 10

    Customer service   4 / 10

    Convenience   4 / 10

    Trust   3 / 10

Less

Sarah (SA), reviewed about 1 year ago

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.

Currently showing

Rates

  • 4.17% p.a.

  • n/a

  • 0 Months

  • none

  • 4.22% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $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

  • Apply by 31 August 2017 and receive 350,000 NAB Rewards Points with an eligible NAB Home Loan and Banking Bundle.

Rates

  • 4.70% p.a.

  • n/a

  • 0 Months

  • none

  • 4.75% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $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

  • Apply by 31 August 2017 and receive 350,000 NAB Rewards Points with an eligible NAB Home Loan and Banking Bundle.

Rates

  • 4.65% p.a.

  • n/a

  • 0 Months

  • none

  • 4.70% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $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

  • Apply by 31 August 2017 and receive 350,000 NAB Rewards Points with an eligible NAB Home Loan and Banking Bundle.

Rates

  • 5.18% p.a.

  • n/a

  • 0 Months

  • none

  • 5.23% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $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

  • Apply by 31 August 2017 and receive 350,000 NAB Rewards Points with an eligible NAB Home Loan and Banking Bundle.

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.

* 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.

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