- NAB is Australia's third-largest home lender
- Best known as a business bank, NAB also offers a flexible range of home loan products to suit an array of lender needs
- It also offers a useful rate lock feature to secure an interest rate during the loan settlement process
National Australia Bank traces its origins back to 1834 but adopted its current name in 1982. It is the third largest of Australia’s big four banks, but arguably leads the pack in terms of business and corporate banking. NAB’s subsidiaries include online bank Ubank, Bank of New Zealand, and NAB Europe.
As one of the big four, NAB is a ‘full service’ bank, offering a wide array of banking products and services to retail and business customers. As well as home loans, it also offers car loans, personal loans, credit cards, savings accounts, term deposits, and more.
What home loans does NAB offer?
NAB has a range of home loan products suitable for a range of homebuyers, including first homeowners, builders, refinancers, and investors.
Its two main home loan products are:
NAB Base Variable-Rate Home Loan - a lower interest rate, basic home loan
NAB Tailored Home Loan - a more flexible home loan that can come with an offset account or a fixed-rate option
Under these banners, NAB offers a variety of options such as principal and interest (P&I) or interest-only (IO) repayments, variable or fixed interest rates , and split loans.
NAB also offers specialised construction loans for those building a home.
NAB home loan interest rates
Compare some of NAB’s home loans for owner occupiers in the table below:
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.44% p.a. | 6.44% p.a. | $3,141 | Principal & Interest | Variable | $0 | $350 | 95% | Disclosure | ||||||||||||
6.79% p.a. | 6.92% p.a. | $3,256 | Principal & Interest | Variable | $12 | $350 | 70% | Disclosure | ||||||||||||
6.99% p.a. | 7.12% p.a. | $3,323 | Principal & Interest | Variable | $12 | $350 | 80% | Disclosure | ||||||||||||
6.99% p.a. | 7.12% p.a. | $3,323 | Principal & Interest | Variable | $12 | $350 | 90% | Disclosure | ||||||||||||
7.09% p.a. | 7.21% p.a. | $3,357 | Principal & Interest | Variable | $12 | $350 | 60% | Disclosure | ||||||||||||
7.09% p.a. | 7.21% p.a. | $3,357 | Principal & Interest | Variable | $12 | $350 | 70% | Disclosure | ||||||||||||
5.94% p.a. | 5.98% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure |
NAB home loan features
NAB offers a variety of features depending on the home loan product you choose, including:
- Offset accounts : An offset account linked to your loan account can effectively see you pay less interest on your home loan
- Redraw facilities : Available on most variable-rate loans, allowing you make extra payments and reduce the interest you pay
- Additional repayments: Making extra repayments can also reduce the term and interest payments on your loan. (The amount is capped at $20,000 without additional fees on fixed-rate loans at the time of writing.)
- Flexible repayments: You can generally choose to make repayments on a weekly, fortnightly, or monthly basis to suit your pay or budgeting cycle. (At the time of writing, this is also allowed on P&I fixed-rate loans.)
- Split loans: NAB allows you to split your loan between a variable rate and fixed rate
- Rate lock : You can lock in your approved fixed rate to avoid rising interest rates while waiting for your loan to settle
Pros and cons of NAB home loans
Pros
- Flexibility: As a big bank, NAB can offer adds-ons and options to suit an array of borrower needs
- Willing to accept self-employed home loan applications: Given its reputation as a business bank, NAB can be more open to assessing self-employed applicants
- Outside-the-box loans: NAB will often cater for larger loan amounts, higher loan-to-value ratio (LVR) loans, accept applications from those with varied or unusual income streams, consider non-standard property types, and can offer specialist loans for various professional needs
- Backed by big bank infrastructure: NAB offers an extensive network of branches, reliable technology, a secure app, and accessible phone and online support
- Rate-lock feature: Allows borrowers to lock-in a fixed rate upfront which will apply if the rate increases while their application is processed
- Accepts guarantor and co-borrower loans: NAB will allow others to guarantee home loans, albeit with strict conditions surrounding their approval. The bank also offers co-borrower loans where more than one buyer can have a share in the same property
Cons
- Not the most competitive interest rates: NAB is typically not known for offering the lowest rate home loans on the market (although its wholly owned online lender Ubank is quite competitive)
- May feel like a number: While big banks offer comprehensive products and services, they are 'big' by nature and you may not receive the personalised service smaller lenders may offer
- Variable loan approval times: Home loan processing times can fluctuate according to the volume of applications and general market activity
What the broker says
"NAB is generally very good with business loans and a good option for the commercial side of things. They can also be very receptive when it comes to the self-employed and will generally accept one year of financial records in assessing self-employed home loan applicants.
"Their home loan rates are not bad - definitely not the highest on the market but not the cheapest either. Their processing times can fluctuate depending on how busy the market is and how busy they are.
"It's also worth mentioning NAB is the only major bank still accepting new trust lending, including residential loans to trusts (as at June 2026)."
NAB mortgage pre-approval
There are several ways to apply for home loan pre-approval through NAB, via:
an online form
by contacting NAB on 13 22 65
by visiting a branch
Appointments can be in person, over the phone, via video, or an NAB lending expert can visit your home or office. Appointments generally take around an hour.
Applicants can expect to be asked the purpose of the loan (for example, buying a home, renovating, or refinancing), how many applicants there are, and where the deposit will come from.
NAB will look at things like:
- your credit report
- most recent payslips
- expenses
- any outstanding debts such as other loans and credit cards
- assets such as vehicles, shares, etc.
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 the bank’s 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
Documents you may need
Applying for a NAB home loan will require you to submit certain documents. Each application will have slightly different requirements but generally, you will need:
Identification documents such as your driver's licence, passport, birth certificate etc.
Proof of income such as 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 First Home Owner Grant application if you’re applying through that scheme
Monthly living expenses including your food expenses, transport, utilities, health care etc.