Compare NAB Home Loans

Discover how NAB compares to other home loan lenders.

National Australia Bank is one of the largest banks in Australia, in terms of both market capitalisation and number of customers. Founded in 1982 after a merger of two banks, it has roots dating as far back as 1834. NAB subsidiaries include UBank, and 86 400. In 2021 it also acquired Citi’s Australian retail banking business.

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 in addition to home loans, such as car & personal loans, credit cards, savings accounts, term deposits and much 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, builders, refinancers, and investors. 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

NAB also offers a variety of interest rate options such as principal and interest home loans, interest-only home loans, variable interest rates, fixed rates and split loans.

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

Lump Sum Repayment

Split Loan Option

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 packaged home loans explained

The NAB ‘Choice Package’ line, for an annual fee, 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. Customers can also save up to 10% off selected insurance products.

NAB home loan features

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

• Offset accounts: NAB allows you 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 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. 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 its 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. 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 drivers licence, 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 First Home Owner Grant application if you’re applying through that
• Monthly living expenses, including your food expenses, transport, utilities, health care etc

Photo by Bidgee on Wikimedia Commons

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Harrison Astbury

Harrison is Savings.com.au's Assistant Editor, and also Editor & Research Analyst of sister comparison site InfoChoice.com.au. Prior to joining Savings Media Group in January 2020, he worked for some of Australia's largest comparison sites and media organisations, and has key interests in housing policy, real estate, and niche topics such as the gold standard.

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We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.

Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.

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Comparison Rate Warning and Base Criteria

For home loans, the base criteria include a $400,000 loan amount over 25 years. For car loans and personal loans, the base criteria include a $30,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

*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.

Monthly Repayment Figures

Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.

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.

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