Thumbnail icon for NAB

NAB Base Variable Rate Home Loan

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

Rate
2.69% p.a.
Comparison Rate*
2.69% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.04% p.a.
Comparison Rate*
3.04% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.45% p.a.
Comparison Rate*
3.45% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
4.02% p.a.
Comparison Rate*
3.67% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.97% p.a.
Comparison Rate*
3.97% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.34% p.a.
Comparison Rate*
3.34% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.09% p.a.
Comparison Rate*
3.09% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.29% p.a.
Comparison Rate*
3.71% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review NAB Base Variable Rate Home Loan

Last updated: 8 September 2020.

binocular icon
What's hot
  • Variable rates from 2.69% (2.69% comparison rate*)
  • Borrow up to 95% LVR
  • $2,000 cash bonus offer for refinancers (conditions apply)
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 2.69% (2.69% 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. Plus if you're thinking about refinancing your home loan before 31 January 2021, you could 'nab' yourself a $2,000 cash bonus.

key icon
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 3.04% interest rate (3.04% 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 2.69% interest rate (2.69% 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. Plus, if you refinance a loan of $250,000 or more before 31 January 2021 then you could be eligible to receive a $2,000 cash bonus. The offer is only available to those refinancing an existing home loan from another financial provider to NAB (also excludes UBank, Medfin and Advantage Home Loans). The offer is not available for refinances of First Home Loan Deposit Scheme loans.

snapshot
Who is it good for

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

snapshot
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 21 September 2020. 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
  • 2.69% p.a.

  • n/a

  • n/a

  • n/a

  • 2.69% 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 - free

  • $500.00

  • yes

  • no

  • none

  • none

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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 21 September 2020. 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
  • 3.04% p.a.

  • n/a

  • n/a

  • n/a

  • 3.04% 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 - free

  • $500.00

  • yes

  • no

  • none

  • 33% Discount on Lenders Mortgage Insurance available to First Home Buyers.

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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 21 September 2020. 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
  • 3.45% p.a.

  • n/a

  • n/a

  • n/a

  • 3.45% 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 - free

  • $500.00

  • yes

  • no

  • none

  • 33% Discount on Lenders Mortgage Insurance available to First Home Buyers.

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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 21 September 2020. 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
  • 4.02% p.a.

  • n/a

  • n/a

  • n/a

  • 3.67% 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 - free

  • $500.00

  • yes

  • no

  • none

  • none

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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 21 September 2020. 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
  • 3.97% p.a.

  • n/a

  • n/a

  • n/a

  • 3.97% 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 - free

  • $500.00

  • yes

  • no

  • none

  • none

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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 21 September 2020. 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
  • 3.34% p.a.

  • n/a

  • n/a

  • n/a

  • 3.34% 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 - free

  • $500.00

  • yes

  • no

  • none

  • none

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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 21 September 2020. 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
  • 3.09% p.a.

  • n/a

  • n/a

  • n/a

  • 3.09% 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 - free

  • $500.00

  • yes

  • no

  • none

  • none

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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 21 September 2020. 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
  • 3.29% p.a.

  • n/a

  • n/a

  • n/a

  • 3.71% 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 - free

  • $500.00

  • yes

  • no

  • none

  • none

  • $2,000 refinance cashback for loans >$250,000, drawdown before 31 Jan 2021.

*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
6.7/10

Based on 2873 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 10/10
    Great bank.

    They have always been there to help and give advice. The staff is great.

    Read full review

    They have always been there to help and give advice. The staff is great.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Chris, New South Wales reviewed 24 days ago
  • Overall 6/10
    Reward loyalty

    They should be rewarding those who have been with them a long time. For example a better interest rate and be pro active when looking at their general bank account. They use to be a lot more helpful and knew their product very well but lately they seem not know their customers and their older products. They tried to offer a discount on something that I already pay nothing for.

    Read full review

    They should be rewarding those who have been with them a long time. For example a better interest rate and be pro active when looking at their general bank account. They use to be a lot more helpful and knew their product very well but lately they seem not know their customers and their older products. They tried to offer a discount on something that I already pay nothing for.

    Price
    6/10
    Features
    6/10
    Customer service
    5/10
    Convenience
    8/10
    Trust
    6/10
    Less
    Diane, Northern Territory reviewed 27 days ago
  • Overall 8/10
    CSO goes above and beyond.

    I don’t often visit my local NAB branch but had occasion to this week when depositing a cheque as well as transferring funds overseas. The CSO kindly made me aware that both of these processes were available through my online banking app and took the time to step me through them. The online overseas transfer not only saved me a considerable fee but also offered a much better exchange rate. And who knew you could scan a cheque to your account? Pretty stoked with my latest branch experience!

    Read full review

    I don’t often visit my local NAB branch but had occasion to this week when depositing a cheque as well as transferring funds overseas. The CSO kindly made me aware that both of these processes were available through my online banking app and took the time to step me through them. The online overseas transfer not only saved me a considerable fee but also offered a much better exchange rate. And who knew you could scan a cheque to your account? Pretty stoked with my latest branch experience!

    Price
    9/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    8/10
    Less
    Valerie, New South Wales reviewed about 1 month ago
  • Overall 9/10
    Have no complaints. Solid service and great staff.

    Staff were extremely helpful. They walked me through every step and are very easy to get in contact with. Online site very easy to navigate.

    Read full review

    Staff were extremely helpful. They walked me through every step and are very easy to get in contact with. Online site very easy to navigate.

    Price
    8/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Janet, Queensland reviewed about 1 month ago
  • Overall 8/10
    Easy and fast.

    We have just refinanced with NAB and it was a very easy and fast transaction. We also received a $4000 dollar refund after 7 days which was great too. They have been very easy to deal with so far.

    Read full review

    We have just refinanced with NAB and it was a very easy and fast transaction. We also received a $4000 dollar refund after 7 days which was great too. They have been very easy to deal with so far.

    Price
    8/10
    Features
    6/10
    Customer service
    7/10
    Convenience
    10/10
    Trust
    8/10
    Less
    Tracy, Queensland reviewed 3 months 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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ING

Orange Advantage (Package)

2.64% p.a.

2.98% p.a.

$299.00 yearly

Promoted

Athena

Athena

AcceleRATES Variable Home Loan

2.54% p.a.Apply now to get this rate from 30 Sep

2.46% p.a.Apply now to get this rate from 30 Sep

$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.