NAB Home Loans

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

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Summary

About NAB

National Australia Bank is one of the largest banks in Australia. It has been around for almost 160 years, and today it serves more than 12 million customers globally. It also has more than 1,000 branches nationwide and business banking centres overseas.

NAB offers a wide array of banking products and services to retail and business customers such as other than home loans, like car and personal loans, credit cards, superannuation, insurance, term deposits, and more.

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.

NAB home loan interest rates

NAB offers many home loan options to suit a range of homebuyers. You can find a complete list here, and a table of all of NAB’s home loan interest rates here. NAB’s key home loans include:

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

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

How to apply for an NAB home loan

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.
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