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NAB Home loan reviews

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Based on 2922 home loan reviews as rated by the Mozo community.

Recent NAB home loan customer reviews

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  • NAB Tailored Home Loan (Owner Occupier, Principal & Interest) (Choice Package)

    $2000 cash back to refinance - no brainer !!!

    NAB refinanced my home loan with offset facility. Super easy to do and got a whopping $2000 cash bonus. No brainer as they also lowered the loan rate. Super happy with the refinance process and the added savings overall.

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    Domenic, Victoria, reviewed 21 days ago
  • NAB Tailored Home Loan (Owner Occupier, Principal & Interest, Fixed)

    Terrible customer service over the phone for home

    Terrible customer service over the phone for a home loan. Whatever you ask they don’t know and transfer you to the next operator and the only answer that you hear is “I’m not sure”. Make sure don’t borrow.

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    Reza, New South Wales, reviewed about 1 month ago
  • NAB Tailored Home Loan (Owner Occupier, Principal & Interest) (Choice Package)

    Just terrible.

    Customer for 26 years - terrible customer service, terrible interest rates, glad to have finally moved away resulting in a savings of over $600/m. The only thing that keeps NAB in business is that people don't move banks, because it's such a difficult thing to do.

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    Nick, Victoria, reviewed about 2 months ago
  • NAB Tailored Home Loan (Owner Occupier, Principal & Interest)

    VALUE FOR MONEY, FRIENDLY SERVICE, TRUSTWORTHY.

    Refinanced had an existing loan with NAB and got new rate and was offered completive rates and no extra fees, very helpful and friendly service from the Loan Dept.

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    Ajay, Western Australia, reviewed about 2 months ago
  • NAB Home Loan

    Competitive but could improve application process

    NAB have been flexible with meeting our needs, changing product arrangements and maintaining contact during COVID. They could improve their application process. The last two occasions of refinancing with them have not gone smoothly with a lack of contact & follow up on their part. At this stage, proving they remain competitive we will stay with them.

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    Liz, Tasmania, reviewed about 2 months ago
  • NAB Tailored Home Loan (Owner Occupier, Principal & Interest) (Fixed, Choice Package)

    Crap if you pay your mortgage on time

    We were and still are in lockdown. Never once did I pause my mortgage or not pay, but when I rang the back to ask if the interest rate could be reduced, they said NO. When my wages where reduced to 80%. I got a second job. I am by myself. The total lack of empathy from NAB is ridiculous. As soon as this fixed bit is over I will be leaving. Don’t support the payers. I hope the shareholders are happy.

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    Jane, Victoria, reviewed about 2 months ago
  • NAB Home Loan

    Worst bank in Australia

    Worst bank in Australia. Be warned never ever go with this bank. Worst customer service once they have your Loan.

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    Lee, Victoria, reviewed 2 months ago
  • NAB Home Loan

    AWFUL!!! Beware

    NAB Definitely would NOT recommend this bank to anyone. My wife and I are still in disbelief as to how unethical this bank was and how disgustingly we were treated!! We sold our house in late February and received a phone call from a manager at NAB in Moorabbin shortly after they’d received our mortgage discharge papers to close off the loan. He basically pleaded with us to come in and look into applying for another home loan when looking for a new house. When we decided to take them up on their offer he sent us to the NAB branch in Southland to organise a pre approval. The pre approval loan amount was calculated at 1.1 million which was well above what my wife and I were looking at borrowing. A week later we found a house that we loved which required a loan amount of $840,000, well under what NAB had pre approved us for, and signed the paperwork with a 10 week settlement period. We sent NAB the contract of sale along with any other information they required and were given every bit of reassurance that this loan would go ahead and there was not the slightest bit of doubt. As the weeks went by received emails and text messages from NAB letting us know that loan had been processed and we had unconditionally been approved and congratulating us on the success of the loan. My wife and I were extremely excited and could not wait for settlement date to be able to move into our dream home! Then one Friday night around 6.30pm (A WEEK EXACTLY BEFORE SETTLEMENT DATE), I received a phone call from the NAB banker that had been organising our loan, basically apologising and telling us that our loan had been withdrawn! When I asked why he could not give me any answers simply stating that “a second verification team had looked at your file and decided to pull out of the loan”. My heart sank. I could not believe that a bank that had 10 WEEKS to settle a loan decided to pull out less than a week before settlement without giving me any sort of explanation and less than 5 business days to try and seek the loan through another lender. This is surely highly unethical given that both my wife had I had an immaculate history with previous home loans and a perfect credit rating. We just couldn’t believe how cold and heartless a bank could be leaving us in a position where we potentially faced penalties due to not meeting settlement date, losing our 10% deposit ($105,000) and not to mention being homeless. When I said all this to the NAB banker, all he could do was continuously apologise and tell me the best thing he could do for me was a file a complaint on our behalf! I honestly couldn’t not believe it. What was supposed to be an exciting time for us turned out to be a living nightmare and fair to say a week of intense stress and many sleepless nights. Monday morning came and decided to speak to a friend of mine who manages the ANZ branch in Ringwood. Told her the situation and gathered all the documents for her to try and process the loan through ANZ. They worked around the clock to make the loan happen by Friday which was settlement and could not believe they managed to do it. I can’t express enough how grateful we were to ANZ for being so helpful and compassionate to our situation and making it happen so quickly. The real kicker is that NAB rang on Tuesday and said there had been a mistake and would like to proceed with our loan, which we declined. We then pulled our 2 investment loans and savings from NAB as we didn’t want to risk a $1 with them. It still amazes me to this day that NAB had 10 weeks to approve a basic loan that ANZ managed to organise in a few days!!! Absolutely blows my mind! Steer clear of NAB not worth the stress!

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    Janelle, Victoria, reviewed 2 months ago
  • NAB Base Variable Rate Home Loan Special Offer (Owner Occupier, Principal & Interest, LVR<80%)

    They don't care

    We have been customers with NAB for over 40 years. This doesn't matter to them neither do they care keeping long term customers or believe in flexibility.

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    Shari, Queensland, reviewed 3 months ago
  • NAB Home Loan

    THEY ARE THE BEST WHERE I LIVE

    They are the best bank I have ever banked with there interest rates are very good they have great staff and a local branch which is very helpful.

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    Jann, Victoria, reviewed 4 months ago
  • NAB Base Variable Rate Home Loan Special Offer (Owner Occupier, Principal & Interest, LVR<80%)

    NAB IS A TOP BANK

    NAB have great customer service and are always willing to help and explain anything that you need clarification on.

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    Helen, Queensland, reviewed 4 months ago
  • NAB Home Loan

    Poor Customer relationship

    Extremely poor service and arrogant staff at Norwest Branch.

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    Rajendra, New South Wales, reviewed 4 months ago
  • NAB Tailored Home Loan (Owner Occupier, Principal & Interest) (Choice Package)

    Excellent bank, facilities and customer service.

    Very easy to deal with, explained options for refinancing home loans and finance loans. The product was what we were looking for. Also answered questions and organised bank accounts for the home loan repayments. Thank you, we are very happy.

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    Leonie, New South Wales, reviewed 4 months ago
  • NAB Home Loan

    Much better deals and customer service out there.

    Do not recommend! NAB or your broker will lock you into a non-competitive rate and charge you the $395/year on top of this so you can wait 1+hour to talk to 3 people in a call centre who will all ask you the same questions despite you having answered them and waste your precious life and then decide they can't help you anytime you have a query. While some try to, for whatever reason, their system is always slow or down, none of their back-end team are ever connected or seem to be in the same place as each other so you're dealing with a completely silo'd and disconnected group of people. When you finally get through to someone, you spend another 1 hour talking to someone in Australia (which is what the $395 plus your excessive interest rate is paying for presumably), guaranteeing you XYZ with no follow-up in writing before not actioning your query. You are then left to join the call centre queue again and if they don't hang up on you after the 1 hour+ you are in line, they'll screw up your query again and again and again. They used to assign a retention officer if they really screwed up (thrice over 2 years for me) with email details so you didn't have to wait in line but they know longer do this anymore, presumably due to high demand and all the screw-ups. Their first offer after a complaint is to refund the yearly fee and if you threaten to go to the Financial Ombudsman they may then write you a polite email - no other financial refund is available despite you being penalised in time and money for their shortcomings. Really do you numbers to see if you need to be using a Big 4 bank - the interest rate is everything. A half a % change can mean 000's saved in a year and more in the long run and breaking a fixed rate can be earnt back within a reasonable time if you get a spreadsheet out and just use an afternoon to see how it all works. If you've only got a year or two left on a fixed loan, the economic break cost is generally under 1k and if another provider is offering 3-4k joining bonus, just do it (there are also exit fees). This was a revelation for a non-numbers person after I just became so frustrated with being ripped off. Don't get drawn into the big banks providing a "safety net" - they are just using their excess fees to try to pay for their clunky, dated systems and all the support they need for this, CBD offices and amenities, Australian-based call centre staff and management teams to design KPIs, scripts, incentives for staff etc.

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    Natalie, New South Wales, reviewed 6 months ago
  • NAB Home Loan

    Could be more competitive with their rates

    NAB is more interested in gaining new customers by offering incentives and low interest rates to entice new customers rather than looking after their current customers and offering them the same incentives. However when there was a problem with my credit card and suspicious activity was detected I received a text message immediately asking if I could contact the bank. This issue was dealt with efficiently. I think NAB could improve on being more competitive with their rates

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    Erin, Victoria, reviewed 6 months ago
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    Home loan comparisons on Mozo - rates updated daily

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    • Variable Home Loan

      interest rate
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      1.99% p.a.

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    • Basic Home Loan

      interest rate
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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.

    Want more? Compare all 498 home loans in the Mozo comparison engine.

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