National Australia Bank is one of Australia’s biggest banks, in terms of both market capitalisation and number of customers. Founded in 1982 after a merger of two banks, its roots date as far back as 1834. NAB’s subsidiaries include UBank, Bank of New Zealand, and NAB Europe.

As one of the ‘big four’, NAB is a ‘full service’ bank, meaning it offers 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.

NAB’s two main home loan products are:

  • The NAB Base Variable Rate Home Loan

  • The NAB Tailored Home Loan - this comes either with an offset account or a fixed rate option

Under these banners, NAB offers a variety of options such as principal and interest home loans, interest-only home loans, variable or fixed interest rates, and split loans.

Compare some of NAB’s home loans for owner occupiers in the table below:

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
5.84% p.a.
6.60% p.a.
$2,947
Principal & Interest
Fixed
$8
$350
70%
5.84% p.a.
6.60% p.a.
$2,947
Principal & Interest
Fixed
$8
$350
80%
5.84% p.a.
6.60% p.a.
$2,947
Principal & Interest
Fixed
$8
$350
60%
5.94% p.a.
6.77% p.a.
$2,978
Principal & Interest
Fixed
$8
$350
90%
5.84% p.a.
6.74% p.a.
$2,947
Principal & Interest
Fixed
$8
$350
80%
5.89% p.a.
6.69% p.a.
$2,962
Principal & Interest
Fixed
$8
$350
80%
5.89% p.a.
6.69% p.a.
$2,962
Principal & Interest
Fixed
$8
$350
70%
5.89% p.a.
6.69% p.a.
$2,962
Principal & Interest
Fixed
$8
$350
60%
5.99% p.a.
6.87% p.a.
$2,995
Principal & Interest
Fixed
$8
$350
90%
5.89% p.a.
6.85% p.a.
$2,962
Principal & Interest
Fixed
$8
$350
80%
More home loans
Important Information and Comparison Rate Warning

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 be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. 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. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

NAB home loan features

NAB offers a variety of features depending on the home loan product you choose, including:

  • Offset accounts: NAB allows you to pay less interest on your home loan with its offset account feature.

  • Additional repayments: Making extra repayments can reduce the term and interest payments on your loan. (This option may not apply to all fixed loans.)

  • Flexible and extra repayments: You can choose to 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 approved fixed rate to save yourself from rising interest rates while waiting for the loan to settle.

NAB mortgage pre-approval

There are several ways to apply for home loan pre-approval through NAB. Appointments with an NAB Lending Expert, conducted virtually, can be booked via:

  • an online form

  • by contacting NAB on 13 22 65

  • visiting a branch

“In many cases, NAB can connect you with a lending expert within 15 minutes, with appointments generally taking around 45 minutes,” an NAB spokesperson said.

Potential borrowers can also choose to book an appointment in branch or via a mobile banker.

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, payslips, expenses, and any outstanding debts such as other loans and credit cards, as well as your 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 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.

    First published on February 2022

    Photo by Bidgee on Wikimedia Commons



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