NAB Home Loans

Read on to learn more about some of NAB’s key home loans and features.

National Australia Bank is one of the largest banks in Australia, in terms of both market capitalisation and number of customers It has been around for almost 160 years, and today it serves more than 12 million customers globally. It also has about 900 branches nationwide and business banking centres overseas.

As one of the ‘big four banks’, NAB is a ‘full service’ bank, meaning it offers a wide array of banking products and services to retail and business customers such as home loans, car and personal loans, credit cards, superannuation, insurance, term deposits, and more.

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Compare NAB Mortgage Rates

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details

Base Variable Home Loan Special (Principal and Interest) (LVR < 80%) (New Customer)

VariableMore details

Base Variable Investment Loan Special Offer (Principal and Interest) (LVR < 80%)

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of September 25, 2021. View disclaimer.

What home loans does NAB offer?

NAB has a range of home loan products suitable for all sorts of buyers, including first home buyers, renovators, refinancers, and investors. NAB also offers a variety of interest rate options such as principal and interest home loans, interest-only home loans, variable interest rates, fixed rate and split loans.

There are four main product lines across NAB’s home loan suite, suiting a range of home buyers, including:

  • The NAB Choice Package
  • The NAB Tailored Home Loan
  • The NAB Variable Rate Home Loan
  • The NAB FlexiPlus Mortgage

    You can find a complete list here, and a table of all of NAB’s home loan interest rates here

    NAB home loan features

    NAB offers a variety of features on its home loan products, such as:

    • Offset accounts: NAB allows yo to pay less on your home loan with its offset account feature
    • Additional repayments: Making extra repayments can reduce the term and interest payments on your loan
    • Flexible and extra repayments: You can make repayments on a weekly, fortnightly or monthly basis
    • Split loans: NAB allows you to split your loans between a variable rate and fixed rate
    • Rate lock: You can lock in your rate to save yourself from interest rate hike with NAB’s fixed rate loan
    • Package loans: The NAB ‘Choice Package’ line, for an annual fee of $395, gives a discount off the ‘indicator’ rate for the life of the loan, while also offering discounted premiums on various insurance products, and margin loans. Packaging your home loan also waives the home loan application fee, while also waiving some credit card fees.

      NAB mortgage pre-approval

      There are several ways to apply for home loan pre-approval through NAB. You can apply for conditional approval online through its online form, visit a branch, call NAB, or set up an appointment over the phone, in person, via video chat or a home visit. Appointments usually take around 60 minutes.

      NAB will look at things like your credit report, your payslips, your expenses, and outstanding debts such as other loans and credit cards, as well as assets - cars and shares and so on.

      How to apply for a NAB home loan

      Eligibility criteria

      Before applying for a NAB home loan, you need to make sure that you meet their criteria:

      • You must be 18 years of age and above
      • You must be an Australian or New Zealand permanent resident
      • You must have a regular source of income

        If you meet NAB’s eligibility criteria, you may submit your application by:

        1. Simply applying online with NAB
        2. Filling an online application and submitting to your NAB branch
        3. Calling the bank and speaking with a NAB home loan specialist
        4. Contacting a mortgage broker

          Documents needed

          Applying for a NAB home loan will require you to submit certain documents:

          • Identification documents such as your driver’s license, passport, birth certificate etc.
          • Proof of income like your most recent payslips or most recent tax returns if you’re self-employed
          • Proof of other income, including rental earnings
          • Asset and liability documents, assets such as non-NAB savings, shares, and properties.
          • Liabilities such as non-NAB loans, credit cards, leases and other personal debts
          • Residential status, if you’re renting
          • A completed FHOG application if you’re applying through that
          • Monthly living expenses, including your food expenses, transport, utilities, health care etc.

            Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

            Lender
            Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
            VariableMore details
            LIMITED TIME OFFER

            Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

            • Fast turnaround times, can meet 30-day settlement
            • For purchase and refinance, min 20% deposit
            • No ongoing or monthly fees, add offset for 0.10%
            LIMITED TIME OFFER

            Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

            • Fast turnaround times, can meet 30-day settlement
            • For purchase and refinance, min 20% deposit
            • No ongoing or monthly fees, add offset for 0.10%
            FixedMore details
            NO UPFRONT OR ONGOING FEES

            Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

            NO UPFRONT OR ONGOING FEES
            VariableMore details
            100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

            Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

            • No upfront or ongoing fees
            • 100% full offset account
            • Extra repayments + redraw services
            100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

            Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

            • No upfront or ongoing fees
            • 100% full offset account
            • Extra repayments + redraw services

            Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of September 25, 2021. View disclaimer.