NAB Base Variable Rate Home Loan

3.69% p.a.

3.73% p.a.

$0.00

4.17% p.a.

4.21% p.a.

$0.00

4.70% p.a.

4.75% p.a.

$0.00

4.65% p.a.

4.70% p.a.

$0.00

5.18% p.a.

5.23% p.a.

$0.00

NAB Base Variable Rate Home Loan Review

Rates and fees information correct as at 19 July 2018.

Review published: 21 July 2014

What's hot:

  • No monthly fees

  • 2018 Mozo Experts Choice Award

  • 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 3.69%, 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. In fact, it was judged as such a good option for investors that it was awarded a 2018 Mozo Experts Choice Award for best Investor Home Loan. 


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 3.69% 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   10 / 10

I do not bank online

Low interest, excellent, friendly service. Reliable, I feel financially safe.

Full review

Low interest, excellent, friendly service. Reliable, I feel financially safe.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Yvonne (QLD), reviewed 5 months ago

NAB

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

Overall rating   4 / 10

We have stuck with them but now looking for better

They have not stuck to their promise of always having the best rates

Full review

They have not stuck to their promise of always having the best rates

    Price   4 / 10

    Features   5 / 10

    Customer service   3 / 10

    Convenience   4 / 10

    Trust   4 / 10

Less

Raymond (WA), reviewed 6 months ago

NAB

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

Overall rating   8 / 10

Great to deal with

They were very helpful on initial setup. Were accomodating and understanding when we queried the rate. They send regular updates of rate changes and how we can fix our rate if we want to. Online/mobile app is very user friendly.

Full review

They were very helpful on initial setup. Were accomodating and understanding when we queried the rate. They send regular updates of rate changes and how we can fix our rate if we want to. Online/mobile app is very user friendly.

    Price   8 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   7 / 10

Less

Kayla (VIC), reviewed 6 months ago

NAB

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

Overall rating   5 / 10

OK

I once emailed to cancel a direct debit was given the run around -another $160 went out

Full review

I once emailed to cancel a direct debit was given the run around -another $160 went out

    Price   4 / 10

    Features   2 / 10

    Customer service   -1 / 10

    Convenience   6 / 10

    Trust   4 / 10

Less

Ben (NSW), reviewed 7 months ago

NAB

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

Overall rating   7 / 10

Great customer service

They adjusted our loan when requested, but I dislike that they've put their rates up recently.

Full review

They adjusted our loan when requested, but I dislike that they've put their rates up recently.

    Price   7 / 10

    Features   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

Less

Sharron (WA), 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

  • 3.69% p.a.

  • n/a

  • 0 Months

  • none

  • 3.73% 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

  • none

Rates

  • 4.17% p.a.

  • n/a

  • 0 Months

  • none

  • 4.21% 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

  • none

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

  • none

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

  • none

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

  • none

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.

*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.

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