NAB Home Loans Review

Logo for National Australia Bank.

NAB offers a wide variety of fixed and variable rate home loans that could be suitable for you.

The National Australia Bank (NAB) is one of Australia's four major banks, and offers a huge range of home loans to cater to borrowers' financial circumstances. Whether you're looking for fixed or variable rates, line of credit home loans or a product with redraw and offset facilities, NAB has products to meet your needs.

Discount - limited time offer

NAB is offering a 1.42% p.a. discount off the current advertised indicator rate on its Base Variable Rate principal and interest loan for new owner-occupier customers borrowing $20,000 or more. This is a limited time offer. Other conditions may apply.

Compare NAB home loans

Rates last updated July 19th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.69%
4.86%
$0
$395 p.a.
90%
Start your home buying journey with 2 years of fixed repayments and a reasonable rate from a big 4 bank. Available with a 10% deposit.
3.88%
4.89%
$0
$395 p.a.
95%
Low deposit home loan. Enjoy flexible repayment options while paying limited fees.
3.69%
3.73%
$600
$8 monthly ($96 p.a.)
95%
Variable rate home loan from one of the big 4 banks. Available with just a 5% deposit.
4.39%
4.78%
$0
$395 p.a.
95%
A low deposit package home loan. Combine your loan to get discounts on your interest rate and other NAB financial products.
3.94%
4.84%
$0
$395 p.a.
95%
Unlock discounts on interest rates and other products with the Choice Package loan. Available with a 5% deposit.
3.89%
4.96%
$0
$395 p.a.
95%
A low interest rate home loan with flexible repayment options.
4.34%
4.74%
$0
$395 p.a.
95%
Enjoy discounted rates on a range of NAB products with a package loan. Get this loan with a 5% deposit.
5.24%
5.37%
$600
$8 monthly ($96 p.a.)
95%
Tailor your home loan to suit your needs. This product comes with a 100% offset account.
4.59%
5.01%
$0
$395 p.a.
95%
A competitive fixed rate loan with flexible features. Available with a 5% deposit.
5.76%
$0
$550 p.a.
80%
Enjoy the flexibility of a line of credit home loan which allows you to borrow against your equity for investments and other purposes.
4.64%
5.03%
$0
$395 p.a.
95%
Enjoy package discounts on other financial products whilst paying $0 application fee.
3.99%
5.25%
$600
$8 monthly ($96 p.a.)
95%
Enjoy a low rate fixed home loan with the ability to borrow up to 95% of the property value.
3.98%
5.13%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan with additional repayment options.
4.04%
5.05%
$600
$8 monthly ($96 p.a.)
95%
Fix in a competitive rate for three years.
4.19%
4.93%
$600
$8 monthly ($96 p.a.)
95%
A flexible five year fixed rate home loan. Available with a 5% deposit.
5.66%
$0
$550 p.a.
80%
Borrow against your equity for investments and other purposes and get a competitive interest rate.
6.29%
$0
$395 p.a.
80%
A package rate offered on NAB's flexible line of credit loan.
3.88%
4.43%
$0
$395 p.a.
95%
Lock in 2 years fixed with no application fee for Defence members.
5.86%
$0
$550 p.a.
80%
Use the equity you have built in your property to renovate or invest elsewhere.
4.09%
4.80%
$0
$395 p.a.
95%
A fixed rate home loan package with flexible repayments options.
4.69%
5.18%
$600
$8 monthly ($96 p.a.)
95%
A low-interest rate fixed home loan with construction options.
6.44%
$600
$250 p.a.
80%
A flexible home loan that helps you save on interest with an offset account.

Compare up to 4 providers

Rates last updated July 19th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
4.92%
4.96%
$0
$395 p.a.
80%
Enjoy a discounted interest rate as part of this package loan.
4.70%
4.42%
$600
$8 monthly ($96 p.a.)
80%
Save money on a basic home loan that offers free redraw and a high maximum LVR.
5.17%
5.21%
$0
$395 p.a.
80%
Enjoy a low interest rate home loan with a 100% offset account and redraw facility.
5.77%
5.58%
$600
$8 monthly ($96 p.a.)
80%
Enjoy a 100% offset account with a low ongoing fee.
4.87%
4.91%
$0
$395 p.a.
80%
Enjoy discounted rates for a range of NAB products.
5.18%
4.90%
$600
$8 monthly ($96 p.a.)
80%
A home loan with no ongoing fee and a redraw facility that you can borrow up to 80% LVR.
5.65%
5.74%
$0
$395 p.a.
80%
Borrow up to 80% with no application fee.
6.25%
6.11%
$600
$8 monthly ($96 p.a.)
80%
Enjoy a 100% offset account with a low ongoing fee.
5.40%
5.49%
$0
$395 p.a.
80%
An interest-only variable rate investment loan with no application fee.
5.35%
5.44%
$0
$395 p.a.
80%
An interest-only variable rate investment loan that lets you earn reward points.
4.49%
5.96%
$600
$8 monthly ($96 p.a.)
95%
4.19%
5.76%
$600
$8 monthly ($96 p.a.)
95%
4.19%
5.60%
$600
$8 monthly ($96 p.a.)
95%
4.99%
5.73%
$600
$8 monthly ($96 p.a.)
95%
4.99%
5.65%
$600
$8 monthly ($96 p.a.)
95%
4.39%
5.63%
$0
$395 p.a.
95%
4.09%
5.48%
$0
$395 p.a.
95%
4.09%
5.36%
$0
$395 p.a.
95%
4.89%
5.53%
$0
$395 p.a.
95%
4.89%
5.48%
$0
$395 p.a.
95%
4.59%
5.47%
$600
$8 monthly ($96 p.a.)
95%
4.39%
5.33%
$600
$8 monthly ($96 p.a.)
95%
4.39%
5.22%
$600
$8 monthly ($96 p.a.)
95%
5.09%
5.35%
$600
$8 monthly ($96 p.a.)
95%
Protect against interest rate rises with a fixed home loan from NAB.
5.09%
5.30%
$600
$8 monthly ($96 p.a.)
95%
4.49%
5.15%
$0
$395 p.a.
95%
4.29%
5.06%
$0
$395 p.a.
95%
4.29%
4.98%
$0
$395 p.a.
95%
4.99%
5.15%
$0
$395 p.a.
95%
4.99%
5.14%
$0
$395 p.a.
95%

Compare up to 4 providers

Rates last updated July 19th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
5.80%
5.93%
$600
$8 monthly ($96 p.a.)
90%
Enjoy a 100% offset account with a low ongoing fee.
4.39%
5.79%
$600
$8 monthly ($96 p.a.)
90%
Borrow up to 90% LVR with a low ongoing fee.
4.19%
5.62%
$600
$8 monthly ($96 p.a.)
90%
Get peace of mind by fixing your investment home loan rate for 2 years.
4.19%
5.49%
$600
$8 monthly ($96 p.a.)
90%
Lock in your investment repayments for 3 years with one of the big 4 banks. Available with a 5% deposit.
4.89%
5.61%
$600
$8 monthly ($96 p.a.)
90%
Borrow up to 90% LVR with a low ongoing fee.
4.89%
5.54%
$600
$8 monthly ($96 p.a.)
90%
Borrow up to 90% LVR with a low ongoing fee.
4.95%
5.33%
$0
$395 p.a.
90%
An investment loan offered by NAB with $0 application fees. Enjoy an interest rate discount for variable rate home loans.
4.90%
5.29%
$0
$395 p.a.
90%
5.20%
5.58%
$0
$395 p.a.
90%
Package your investment loan and pay no application fees.
4.29%
5.49%
$0
$395 p.a.
90%
4.09%
5.37%
$0
$395 p.a.
90%
4.09%
5.28%
$0
$395 p.a.
90%
Lock in a competitive investment rate and combine your loan with a credit card and transaction account for extra savings. Package fee applies.
4.79%
5.44%
$0
$395 p.a.
90%
Pay off your investment knowing your exact repayments for the first 4 years. Get this loan with a 10% deposit.
4.79%
5.41%
$0
$395 p.a.
90%

Compare up to 4 providers

NAB home loan features

Some of the features offered by NAB home loans are:

  • Fixed or variable interest rates. A fixed interest rate allows you to lock in your repayments for a set period of time, while a variable interest rate may change over the life of the loan.
  • Interest-only or principal and interest repayments. Principal and interest loan repayments mean that part of your regular repayment is allocated toward the interest on your home loan, while part is allocated toward paying off the principal, or original amount borrowed. By contrast, an interest-only loan allows you to repay only the interest portion of your loan while leaving the principal untouched. These loans are popular with investors.
  • Line-of-credit home loans. Line-of-credit home loans are different to other loans as you will not receive money for your purchase, but you will receive a credit to draw upon when you need to. While line-of-credit loans are very flexible, they require a bit of budgeting.
  • Offset accounts. Offset accounts are accounts linked to a home loan and allow you to reduce the amount of your loan on which interest is calculated. This can help you repay your home loan faster.
  • Repayment holidays. If you would like to free up some money, or are experiencing financial hardship, you can use the repayment holiday feature to stop making repayments for a while so you can use the money elsewhere.
  • Redraw facility. A redraw facility allows you to access any extra repayments you've made on your home loan and draw the excess out in the form of cash.
  • Overdraft. An overdraft facility allows you to use some of the money on your loan in the form of a line of credit.
  • Loans suitable for building. If you are building a new home, then you may have a few different needs. Construction loans disburse funds in stages as it is needed throughout the building process.
  • Split rate loans. If you find that you like the features of two or more loans, or you would like to hedge your bets with a different loan, then the split loan feature will allow you to do so.

Considerations for borrowers refinancing their loan

NAB home loan specialists will tailor a loan to suit your needs at application and into the future, but if those needs change, NAB also makes it easy to refinance. Whether it is your aim to pay off your home loan as early as possible, keep your repayments to a minimum, or to gain more flexibility, NAB home loans are able to work with you to put together a suitable package. If you've seen a NAB home loan product which you think will fit into your lifestyle, find out more about the features and fees of the loan.

Some of the loans offered by NAB

NAB Tailored Home Loan Variable Rate

This home loan offers features that are focused on helping you pay your home loan off early, allowing you to take advantage of making additional repayments whenever you can.

About the NAB Tailored Home Loan Variable Interest Rate

NAB Tailored Home Loan Fixed Rate

A fixed interest rate home loan means that you can enjoy the certainty of knowing that your repayments will not increase, even if official rates are on the rise.

About the NAB Tailored Home Loan Fixed Interest Rate

NAB Portfolio Facility (LOC)

The NAB Portfolio Facility (LOC) is a line-of-credit home loan that allows you to release the equity you have built up in your old home so you can use the funds to build or renovate.

More About Portfolio Facility

NAB Choice Package

The NAB Choice Package can be added to several eligible NAB home loans, and offers discounts on interest and fees as well as on other NAB banking products.

More About NAB Choice Package - Fixed Rate Home Loan

More About NAB Choice Package - Variable Rate Home Loan

More About NAB Flexiplus Mortgage with Choice Package

Defence Force Home Loans

To cater to the unique and fluid needs of Defence Force personnel, NAB offers the NAB Defence Force Home Loan which works in conjunction with the Defence Home Ownership Assistance Scheme.

More about NAB Defence Force Home Loans

Know how much you want to borrow? Use our calculator to find out what your repayments will be

How to apply for a NAB home loan

If a NAB home loan is the best option for you, click on 'more info' to get more information on the loan you are interested in. Then click the green button on the loan review page and you will be directed securely to the NAB Home Loans information and application page.

After you fill in your details a NAB Home Loan Specialist will contact you to help you with the rest of your application, and provided that you are able to supply the appropriate documentation, pre-approval can usually be given on the spot. This means that your home loan is approved subject to a credit check and information that you have provided being verified.

To help speed up this process, before you call or speak to a NAB representative you should gather the relevant documentation, including:

  • Proof of identity
  • Proof of income
  • Information on any liabilities such as personal loans, credit cards or other home loans

The second step is verification, where NAB will check if you have all of your required documents. These documents need to support all the information that you've given in your application form. NAB will also perform a credit check on all the borrowers listed on the application, via a credit-reporting agency.

You will also need to provide information on the property you plan to purchase in order for the application to proceed, NAB will perform a valuation of the property as well. Documents you will need to provide regarding the property include:

  • Contract of sale
  • Details of the conveyancer or solicitor who is handling the purchase
  • Transfer of title (if available)

If everything is in order NAB will give you formal approval, which means that you can now sign the contract. NAB will contact you to let you know that your home loan has been formally approved and then they will prepare all the documentation and have you sign the originals. You will be given a copy for your records so you can refer to them in the future. If you are eligible for the First Home Owner Grant then NAB will help you complete the forms involved and submit them for you.

NAB will contact your conveyancer or solicitor to arrange settlement of your new property. The real estate agent will provide you with the keys to the property and any other required documentation.

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A competitive interest rate home loan with interest only options. Interest rate 3.64%p.a.
comp rate of 3.66%p.a.

UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupied Variable P&I Rate — borrowing $700,000 or more

Pay no application or ongoing fees and get access to a redraw facility and flexible repayment schedule. Get $1,000 cash into a USaver account when you take out a loan of $200,000 or more (new or refinance). Terms and conditions apply.

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤90% ($150K+ Owner Occupier)

Loans over $150k get a discount off an already low fixed rate. Available for NSW, Qld and ACT residents only.

IMB Budget Home Loan - LVR <= 90% (Owner Occupier, P&I)

Buy a home with just a 10% deposit with this variable rate loan. Face-to-face consultations available for NSW and ACT customers.

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6 Responses

  1. Default Gravatar
    mattOctober 5, 2015

    Hi,
    Just wanting to know some more about the NAB rural home loan packages.
    I would like to buy a rural property as a weekender/hobby farm.
    If i can get some details as so far i have been unable to find on the NAB website.
    We have some savings and also plenty of equity in our residence.
    I trust that we can find out and secure the property which we are looking at.
    Thanks,
    Matt

    • finder Customer Care
      MarcOctober 6, 2015Staff

      Hi Matt,
      thanks for the question.

      I was unable to find specific information relating to NAB’s range of rural home loans, but you might want to read our general rural home loans guide and contact an expert mortgage broker to find out what banks are offering loans for this purpose.

      I hope this helps,
      Marc.

  2. Default Gravatar
    ClareFebruary 5, 2014

    Hi,
    We have a NAB Portfolio facility which we set up to purchase our current home. We are considering selling another property we have (it is currently owned outright/we have clear title). If we “zero” the line of credit with NAB, can we obtain the title for our home? If we do this, can we then redraw on the line of credit to purchase something else/for everyday expenses?
    thanks

    • finder Customer Care
      ShirleyFebruary 5, 2014Staff

      Hi Clare,

      Thanks for your comment.

      This should be possible with the NAB Portfolio Facility, but ultimately it’s up to NAB to decide. It’s best to contact them directly about this as they would be able to provide you with more personalised information.

      Cheers,
      Shirley

  3. Default Gravatar
    terryongJanuary 8, 2014

    Is Homeside and Homeplus part of national bank?

    • finder Customer Care
      MarcJanuary 8, 2014Staff

      Hello Terryong,
      thanks for the question.

      Homeside is indeed part of the National Australia Bank (NAB). Homeplus is the name of one of the home loan products offered through Homeside.

      I hope this helps,
      Marc.

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