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Nano Variable Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $2,500,000 with an LVR below 75%

The details shown below are for an owner occupier taking out a interest only loan between $100,000 and $2,500,000 with an LVR below 75%

The details shown below are for an investor taking out a principal & interest loan between $100,000 and $2,500,000 with an LVR below 75%

The details shown below are for an investor taking out a interest only loan between $100,000 and $2,500,000 with an LVR below 75%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 75%

    Loan: $100,000 $2,500,000

  • Owner Occupier (Interest Only)

    LVR < 75%

    Loan: $100,000 $2,500,000

  • Investor (Principal & Interest)

    LVR < 75%

    Loan: $100,000 $2,500,000

  • Investor (Interest Only)

    LVR < 75%

    Loan: $100,000 $2,500,000

Rate
1.99% p.a.
Comparison Rate
1.99% p.a.
Service fee
$0.00
Upfront fee
$0
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Rate
2.49% p.a.
Comparison Rate
2.17% p.a.
Service fee
$0.00
Upfront fee
$0
Go to site
Rate
2.29% p.a.
Comparison Rate
2.29% p.a.
Service fee
$0.00
Upfront fee
$0
Go to site
Rate
2.59% p.a.
Comparison Rate
2.40% p.a.
Service fee
$0.00
Upfront fee
$0
Go to site

Mozo editorial review Nano Variable Home Loan - last updated: 22 July 2021

4.5 / 5
binocular icon
What's hot
  • Low variable interest rates from 1.99% (1.99% comparison rate*)
  • Zero upfront or ongoing fees
  • Offset sub account
What's not
  • Repayments must be made monthly
  • Refinancers only (initially)
Mozo snapshot

One of the newest online lenders on the market, Nano’s burst onto the mortgage scene with its Variable Rate Home Loan for owner occupiers and investors. Not only does the loan offer super low variable rates starting from just 1.99% (1.99% comparison rate*), it doesn’t come with any fees (yup, zero) and it has useful features including a offset sub account that comes with a Visa debit card and the ability to pay with Google Pay and Apple Pay, as well as an app to manage your finances.

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Key features

The Variable Rate Home Loan from Nano is available to owner occupiers or investors looking to refinance existing loans between $100,000 and $2,500,000. Borrowers will need a loan-to-value ratio of 75% or under (so at least 25% equity), but if they do they’ll be able to access competitive variable rates from: 

  • 1.99% (1.99% comparison rate*) for owner occupiers making principal and interest repayments

  • 2.29% (2.29% comparison rate*) for investors making principal and interest repayments

Aside from the low rates, one of the major bonuses of Nano’s home loan is that - unlike many loans - there are no fees. No upfront fees, no ongoing fees, no discharge fees. Zilch. 

There are also a number of handy loan features which Nano loan customers can make use of. Borrowers wanting to pay down their outstanding balance faster can do so by making extra repayments, or there’s the offset sub account for anyone wanting to reduce the amount of interest they’re paying. 

In fact, Nano’s offset sub account has a lot of the attributes of a transaction account. The account comes with an attached Nano Visa debit card for everyday spending which has both Apple Pay and Google Pay enabled, plus the card can even be used overseas with no international transaction fees or any foreign exchange margin. 

As a digitally-focused lender, it’s probably not surprising that Nano is striving to make its home loan application process as quick as possible - in fact, it says that it’s able to approve applications in just minutes, not weeks. And speaking of digital, Nano mortgage holders will be able to manage their loans through the Nano app.

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Who is it good for

The Nano Variable Home Loan could be a competitive option for either investors or owner occupiers looking for a low variable rate, low fee mortgage which comes complete with features like an offset sub account. It may also be especially appealing for mortgage holders who are looking to manage their home loan through an app. 

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Any catches

At the moment Nano is only taking applications from refinancers, though they will also be opening up to new buyers before long. It’s also worth noting that repayments must be made on a monthly basis (there’s no option for weekly or fortnightly repayments).

Picture of Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo and co-host of the Finance Burrito podcast, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney. He is also ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 4 August 2021. 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

1.99% p.a.

n/a

n/a

n/a

1.99% 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

$0.00

Other financial bits

$100,000

$2,500,000

none

75.00%

Features

Owner Occupier

Principal & Interest

Monthly

yes - free

no

yes - free

none

no

yes - offset sub account

none

Instant payments, Nano Visa debit card, Apple Pay, Google Pay, & $0 foreign exchange fees.

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 4 August 2021. 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

2.49% p.a.

n/a

n/a

n/a

2.17% 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

$0.00

Other financial bits

$100,000

$2,500,000

none

75.00%

Features

Owner Occupier

Interest Only

Monthly

yes - free

no

yes - free

none

no

yes - offset sub account

none

Instant payments, Nano Visa debit card, Apple Pay, Google Pay, & $0 foreign exchange fees.

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 4 August 2021. 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

2.29% p.a.

n/a

n/a

n/a

2.29% 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

$0.00

Other financial bits

$100,000

$2,500,000

none

75.00%

Features

Investor

Principal & Interest

Monthly

yes - free

no

yes - free

none

no

yes - offset sub account

none

Instant payments, Nano Visa debit card, Apple Pay, Google Pay, & $0 foreign exchange fees.

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 4 August 2021. 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

2.59% p.a.

n/a

n/a

n/a

2.40% 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

$0.00

Other financial bits

$100,000

$2,500,000

none

75.00%

Features

Investor

Interest Only

Monthly

yes - free

no

yes - free

none

no

yes - offset sub account

none

Instant payments, Nano Visa debit card, Apple Pay, Google Pay, & $0 foreign exchange fees.

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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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.