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NAB Base Variable Rate Home Loan

Advertiser disclosure
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 interest only loan of at least $20,000 with an LVR below 80%

Choose the version of this loan that suits you best

Availability Loan type LVR Min loan amount Max loan amount
Owner Occupier Principal & Interest < 95% $20,000
Owner Occupier Interest Only < 80% $20,000
Investor Principal & Interest < 95% $20,000
Investor Interest Only < 80% $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 (Interest Only)
    LVR < 80%
    Loan: $20,000
Rate
6.84% p.a.
Comparison Rate
6.88% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
7.94% p.a.
Comparison Rate
7.37% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
7.36% p.a.
Comparison Rate
7.41% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
8.27% p.a.
Comparison Rate
7.81% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review NAB Base Variable Rate Home Loan - last updated: 17 November 2023

binocular icon
What's hot
  • Variable rates from 6.84% (6.88% comparison rate*)
  • 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 6.84% (6.88% comparison rate*), 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 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 $2,000. 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 6.84% interest rate (6.88% 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%). 

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.

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.

question icon
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 28 March 2024. 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

6.84% p.a.

n/a

n/a

n/a

6.88% 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.

none

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 28 March 2024. 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

7.94% p.a.

n/a

n/a

n/a

7.37% 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

none

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 28 March 2024. 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

7.36% p.a.

n/a

n/a

n/a

7.41% 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

none

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 28 March 2024. 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

8.27% p.a.

n/a

n/a

n/a

7.81% 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

none

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

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Based on 2969 NAB home loan reviews

Latest reviews of NAB Base Variable Rate Home Loan

About NAB

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6.30% p.a. variable

6.58% p.a.

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6.40% p.a.

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Variable

6.29% p.a. variable

6.20% p.a.

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Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.37% p.a.

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Basic Home Loan (Fixed)

5.99% p.a.
fixed 3 years

6.13% p.a.

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Unloan

Variable

5.99% p.a.

5.90% p.a.

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Sucasa

Ultra Low Rate

6.30% p.a.

6.58% p.a.

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Macquarie

Offset Home Loan (Package)

6.15% p.a.

6.40% p.a.

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Bendigo Bank

Express Home Loan

6.01% p.a.

6.14% p.a.

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OMG Home Loan

5.99% p.a.

6.00% p.a.

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6.14% p.a.

6.16% p.a.

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6.15% p.a.

6.17% p.a.

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BCU Bank

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p.a.

6.30% p.a.

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Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

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Basic Home Loan (Fixed)

5.99% p.a.
fixed 3 years

6.13% p.a.

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Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

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ubank

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5.99% p.a.
fixed 3 years

6.41% p.a.

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Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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Fixed Rate Home Loan

6.29% p.a.
fixed 3 years

6.30% p.a.

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Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.09% p.a.
fixed 3 years

6.19% p.a.

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Offset Home Loan (Package)

6.15% p.a.

6.40% p.a.

$248.00 yearly

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Bendigo Bank

Express Home Loan

6.01% p.a.

6.14% p.a.

$10.00 monthly

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Sucasa

Ultra Low Rate

6.30% p.a.

6.58% p.a.

$0.00

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Unloan

Variable

5.99% p.a.

5.90% p.a.

$0.00

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ubank

Neat Home Loan

6.14% p.a.

6.16% p.a.

$0.00

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Macquarie

Basic Home Loan

6.15% p.a.

6.17% p.a.

$0.00

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Home Variable Rate

5.95% p.a.

5.95% p.a.

$0.00

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BCU Bank

OMG Home Loan

5.99% p.a.

6.00% 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.

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