NAB Base Variable Rate Home Loan

Rates and Fees verified correct on October 25th, 2016

Enjoy a basic home loan with low rate and fees.

The NAB Base Variable Rate Home Loan offers a low interest rate with useful features and minimal fees.

Current deals for this home loan

  • $0 application fee for a limited time. Terms and conditions apply.
  • 250,00 Velocity Frequent Flyer Points offer. Take out a new home loan with NAB before 31 December 2016 and then make NAB your main bank to qualify.
    The loan must be for owner-occupier purposes and the loan amount must exceed $250,000, excluding line of credit and portfolio facilities. You must draw down on the loan before 31 March 2017 and also take out a NAB Velocity Rewards Credit Card and NAB transaction account.
Interest Rate Max Insured LVR Max LVR
Investor (Interest Only)
4.78% p.a.
Comparison Rate
4.50% p.a.
95% 90%
Investor (P&I)
4.25% p.a.
Comparison Rate
4.29% p.a.
95% 90%
Owner Occupier (Interest Only)
4.63% p.a.
Comparison Rate
4.34% p.a.
90% 80%
Owner Occupier (P&I)
4.1% p.a.
Comparison Rate
4.14% p.a.
95% 80%
Product NameNAB Base Variable Rate Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$20,000
Maximum Loan Amount$10,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options

Application Fee$0
Lender's Legal Fee$124.36
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$350


  • There is $0 ongoing fees with this account.
  • You can withdraw any additional payments you've made at no cost through the redraw facility.
  • There is the ability to split you loan between this variable rate and NAB's fixed rate.


  • An application fee of $0 applies.
  • A discharge fee of $350 applies when you pay off your entire loan balance.
  • If you borrow more than $80% LVR, you may need to pay lender's mortgage insurance (LMI).

Things to consider about the NAB Base Variable Rate Home Loan

This loan is only available as a full documentation loan and is suitable for first home buyers, owner-occupiers and investors.

You can borrow up to 95% of the property value. However, lenders mortgage insurance (LMI) applies if you borrow more than 80% of the property value.

Interest-only repayments are available for five years for both owner-occupied and investment loans.

If you’re looking for a low documentation loan with NAB, the FlexiPlus Mortgage may be suitable for you.

Features of the NAB Base Variable Rate Home Loan

  • Redraw facility. You can redraw on your home loan for free if you're ahead of your scheduled repayments. The minimum redraw amount is $2,000.
  • Maximum loan size. You can borrow up to 95% of the property's value, which can help those who are unable to save for a large deposit. If you're an investor, the maximum limit is 90%.
  • Split loans. You can take up to loans on one property, for one application fee.
  • Loan portability. If you sell the home before paying out the loan, you can buy a new home and still maintain the same home loan. This saves you the cost and hassle of setting up a new home loan.
  • Flexible repayment options. Repayments can be made weekly, monthly or fortnightly to suit how often you get paid, and you can make extra repayments without penalty.


  • Application fee. $0.  This is the fee used to cover the costs of setting up your loan account, but is currently being waived for new applicants for a limited time.
  • Discharge fee. $350. This fee is payable when you pay out your loan.

How to apply for the NAB Base Variable Rate Home Loan

If you believe the NAB Base Variable Rate Home Loan could be right for you click on the green 'Enquire now' or 'Go to site' button. This will redirect you to the NAB website or to a mortgage broker page where you can discuss your borrowing needs.

On the NAB website you can enquire about this loan or use the live chat feature to talk to someone directly. You could also arrange an appointment with a NAB home loan specialist and they'll visit you or you can drop into your local branch.

Required documentation

After you've lodged your home loan application, NAB will contact you to discuss your application. You'll need to provide a number of original and certified copies of documents, such as:

  • Personal ID. You'll need to provide your birth certificate, passport, driver's license and a current photo ID card.
  • Income details. To support your application, you'll need to offer evidence of your income, such as your two most recent payslips and your latest tax return (for PAYG employees). If you're self-employed, you'll need to put forward your two most recent financial statements.
  • Property details. NAB will request a fully-executed contract of sale (signed and dated by both the vendor and purchaser), the transfer of land document (if held) and the construction loan.
  • Asset and liability details. You'll need to supply your most recent non-NAB transaction account statements, credit card statements, details of personal/home/vehicle insurance, superannuation details, and current vehicle registrations.

NAB Base Variable Rate Home Loan Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 4 October 2016 at 8:07.

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8 Responses to NAB Base Variable Rate Home Loan

  1. Default Gravatar
    Arun | May 26, 2016

    I am foreigner holding 457, Am I still eligible to take home loan up to 95%? or 95% is possible only for PR/Citizens?

    • Staff
      Jodie | May 30, 2016

      Hi Arun,

      Thank you for contacting we are a financial comparison website and general information website.

      We have a page that details the possibilities for 457 visa holders with regards to home loans that you can read here, and this page has more information on a range of lending options for non-residents here.

      However, each lender would have their own restrictions and expectations when it comes to offering loans to non-residents so it would be best to either reach out to a lender directly or a mortgage broker to discuss who can assist you.


  2. Default Gravatar
    Varun | March 9, 2016

    Hi there. I have my apartment settlement due in June 2016. If i come in for a pre-approval before 31 March 2016, will I still be eligible for the 250k frequent flyer points ?

    • Staff
      Belinda | March 11, 2016

      Hi Varun,

      Thanks for getting in touch.

      Unfortunately you won’t eligible to receive the 250,000 Velocity Frequent Flyer points as you need to take out a home loan with NAB before 31 March 2016. Additionally, NAB would need a contract of sale to be obtained and they would need the required deposit before the 31 March so pre-approval would not be enough to be eligible for this promotion.

      All the best,

  3. Default Gravatar
    GG | February 9, 2016

    Hi there. Since I don’t have any savings, is it possible to get this variable home loan to pay out an existing loan from another bank, that I currently have to pay for (my husband has taken his super money and moving out, I am left with the mortgage, which I am told by that lender that they cannot refinance me)If I can’t refinance I will have to sell. Cheers

    • Staff
      Belinda | February 11, 2016

      Hi GG,

      Thanks for getting in touch.

      As is an online comparison service, we are not accredited to give you personal advice regarding your borrowing options.

      It’s strongly advised that you speak to a professional mortgage broker as they will be able to sit down with you to review your financial position and advise on the best course of action. They can also draw upon a panel of lenders to find one that may be more likely to review your refinance application given that you have limited savings.

      All the best,

  4. Default Gravatar
    Rada | November 20, 2015

    The 4.32% no frills loan can this be used for investment properties

    • Staff
      Jodie | November 20, 2015

      Hi Rada,

      Thank you for reaching out to a financial comparison website.

      Unfortunately the NAB Base Home Loan is not able to be used for investment properties, please visit our page on investment home loans to see a great range of loans that are suitable to be used for investment loans.


NAB Base Variable Rate Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR


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