based on 21043 NAB banking product reviews as rated by Mozo community

NAB home loans

One of Australia’s big four banks, National Australia Bank is a financial services organisation with a history spanning more than 120 years. It currently provides financial products and services to more than 9 million customers at over 900 locations across Australia, New Zealand and around the world.

If you value a home loan provider with experience, a NAB home loan might be the right choice for you. Below, we’ve compiled all the information you’ll need, from what home loans available and the features you should keep an eye out for to how real NAB customers rate their home loan.

What home loans do NAB offer?

Rates and fees verified as correct at 20 September, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

The fixed rate option from NAB is a great choice if you don’t like any surprises when it comes to home loan repayments. It is available on loans with a minimum amount of $20,000 (up to a maximum 95% LVR) and allows you to lock in a rate from 1 year up to a period of 5 years. You’ll be charged a monthly service fee but you’ll get plenty of flexibility in terms of loan repayment options, including a split loan facility, interest only payment options and the ability to make up to $20,000 in extra repayments during the fixed rate period without incurring any costs. Ensure you only make extra repayments when you can afford it because you won’t have the opportunity to redraw at a later date. For added certainty, you can take advantage of the loan’s rate lock feature, which allows you to secure the quoted interest rate at the time of loan approval for up to 3 months (fees apply).

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

3.69% p.a.

4.52% p.a.

$8.00 monthly

$600

2.28% p.a.

4.07% p.a.

$8.00 monthly

$600

2.69% p.a.

4.76% p.a.

$8.00 monthly

$600

2.54% p.a.

4.57% p.a.

$8.00 monthly

$600

Variable Rate Home Loans

If you prefer a variable home loan, NAB offers a basic, no frills loan or a full featured variable loan with a choice of principal and interest or interest only payment options. NAB’s variable loans are available from $20,000 and allow you to borrow up to 95% of your property’s value. You can choose a repayment frequency (weekly, fortnightly or monthly) to match your pay cycle and make additional repayments whenever you have any spare change. If you need to free up funds in the future, you can use the redraw facility (minimum redraw $500) or opt for a repayment holiday. You will need to pay a monthly service charge with the full featured option but you’ll be able to take advantage of the loan’s offset account to help you save in interest over the term of your loan.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

4.02% p.a.

3.67% p.a.

$0.00

$0

3.45% p.a.

3.45% p.a.

$0.00

$0

2.69% p.a.

2.69% p.a.

$0.00

$0

3.04% p.a.

3.04% p.a.

$0.00

$0

5.09% p.a.

4.87% p.a.

$8.00 monthly

$600

4.52% p.a.

4.65% p.a.

$8.00 monthly

$600

3.97% p.a.

3.97% p.a.

$0.00

$0

2.99% p.a.

3.60% p.a.

$0.00

$0

2.79% p.a.

2.79% p.a.

$0.00

$0

3.34% p.a.

3.34% p.a.

$0.00

$0

5.42% p.a.

5.36% p.a.

$8.00 monthly

$600

5.12% p.a.

5.25% p.a.

$8.00 monthly

$600

Fixed Package Home Loan

The fixed rate Choice Package is available from NAB with a minimum borrowing amount of $20,000. For an annual package fee, you’ll get access to several benefits, including discounted lending rates and waived fees on your home loan and credit card. Depending on your circumstances you may also be eligible for insurance and margin lending benefits. The package has an extensive range of flexible features including an extra repayments facility up to $20,000 and repayment holidays.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

3.59% p.a.

4.60% p.a.

$395.00 yearly

$0

3.59% p.a.

4.43% p.a.

$395.00 yearly

$0

3.59% p.a.

4.47% p.a.

$395.00 yearly

$0

2.18% p.a.

3.88% p.a.

$395.00 yearly

$0

2.18% p.a.

3.70% p.a.

$395.00 yearly

$0

2.18% p.a.

3.67% p.a.

$395.00 yearly

$0

2.59% p.a.

4.41% p.a.

$395.00 yearly

$0

2.59% p.a.

4.44% p.a.

$395.00 yearly

$0

2.59% p.a.

4.62% p.a.

$395.00 yearly

$0

2.44% p.a.

4.37% p.a.

$395.00 yearly

$0

2.44% p.a.

4.19% p.a.

$395.00 yearly

$0

2.44% p.a.

4.16% p.a.

$395.00 yearly

$0

Variable Package Home Loan

If you’re after even more flexibility in your home loan, take a look at the variable rate alternative of NAB’s Choice Package. Also available for loans above $20,000, it comes with all the benefits and features of the fixed rate option, but with a couple of extras. You’ll get unlimited extra repayments and the option to use an offset account to help you pay off your home loan faster. You can also choose either an interest only repayment option or interest and principal repayments.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

4.19% p.a.

4.21% p.a.

$395.00 yearly

$0

4.24% p.a.

4.26% p.a.

$395.00 yearly

$0

4.49% p.a.

4.51% p.a.

$395.00 yearly

$0

3.62% p.a.

4.03% p.a.

$395.00 yearly

$0

3.92% p.a.

4.32% p.a.

$395.00 yearly

$0

3.67% p.a.

4.08% p.a.

$395.00 yearly

$0

4.52% p.a.

4.70% p.a.

$395.00 yearly

$0

4.57% p.a.

4.75% p.a.

$395.00 yearly

$0

4.82% p.a.

5.00% p.a.

$395.00 yearly

$0

4.22% p.a.

4.62% p.a.

$395.00 yearly

$0

4.27% p.a.

4.67% p.a.

$395.00 yearly

$0

4.52% p.a.

4.91% p.a.

$395.00 yearly

$0

NAB home loan features in a glance

Image of coins

Offset account

Saving on your interest payments is easy with an offset account available as part of NAB’s standard variable loan.

Repayment Icon

Extra repayments

NAB’s fixed and variable loan options have an extra repayment facility (maximum $20,000 for fixed rate option), so you can reduce the term of your loan and interest payments by making additional repayments whenever your budget allows. 

Repayment Icon

Weekly, fortnightly and monthly repayments

Don’t get paid weekly? No sweat! You can also choose to pay your loan back on a fortnightly or monthly basis.

Home loan icon

Split loan facility

Can’t make up your mind between a fixed or variable rate? NAB’s fixed, variable and line of credit loans have a split loan facility which allows you to combine a fixed and variable rate into one loan and get the best of both worlds.

Deposit icon

Rate lock

If you’re worried about an interest rate hike just before your loan drawdown date, you can opt for the rate lock feature available with NAB's fixed rate loan. This way you can secure the quoted interest rate at the time of loan approval for a period up to 90 days, though fees may apply.

How are NAB home loans rated?

Mozo users have rated NAB home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
NAB home loans
Overall
Price
Features
Customer service
Convenience
Trust

2920 Reviews

Recent NAB home loan reviews

NAB Tailored Home Loan (Choice Package)
Overall 1/10
Just terrible.

Customer for 26 years - terrible customer service, terrible interest rates, glad to have finally moved away resulting in a savings of over $600/m. The only thing that keeps NAB in business is that people don't move banks, because it's such a difficult thing to do.

Read full review

Customer for 26 years - terrible customer service, terrible interest rates, glad to have finally moved away resulting in a savings of over $600/m. The only thing that keeps NAB in business is that people don't move banks, because it's such a difficult thing to do.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Nick, Victoria, reviewed 10 days ago
NAB Tailored Home Loan
Overall 10/10
VALUE FOR MONEY, FRIENDLY SERVICE, TRUSTWORTHY.

Refinanced had an existing loan with NAB and got new rate and was offered completive rates and no extra fees, very helpful and friendly service from the Loan Dept.

Read full review

Refinanced had an existing loan with NAB and got new rate and was offered completive rates and no extra fees, very helpful and friendly service from the Loan Dept.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Ajay, Western Australia, reviewed 21 days ago
NAB Home Loan
Overall 7/10
Competitive but could improve application process

NAB have been flexible with meeting our needs, changing product arrangements and maintaining contact during COVID. They could improve their application process. The last two occasions of refinancing with them have not gone smoothly with a lack of contact & follow up on their part. At this stage, proving they remain competitive we will stay with them.

Read full review

NAB have been flexible with meeting our needs, changing product arrangements and maintaining contact during COVID. They could improve their application process. The last two occasions of refinancing with them have not gone smoothly with a lack of contact & follow up on their part. At this stage, proving they remain competitive we will stay with them.

Price
8/10
Features
8/10
Customer service
6/10
Convenience
7/10
Trust
8/10
Less
Liz, Tasmania, reviewed 21 days ago
NAB Tailored Home Loan (Fixed, Choice Package)
Overall 1/10
Crap if you pay your mortgage on time

We were and still are in lockdown. Never once did I pause my mortgage or not pay, but when I rang the back to ask if the interest rate could be reduced, they said NO. When my wages where reduced to 80%. I got a second job. I am by myself. The total lack of empathy from NAB is ridiculous. As soon as this fixed bit is over I will be leaving. Don’t support the payers. I hope the shareholders are happy.

Read full review

We were and still are in lockdown. Never once did I pause my mortgage or not pay, but when I rang the back to ask if the interest rate could be reduced, they said NO. When my wages where reduced to 80%. I got a second job. I am by myself. The total lack of empathy from NAB is ridiculous. As soon as this fixed bit is over I will be leaving. Don’t support the payers. I hope the shareholders are happy.

Price
1/10
Features
5/10
Customer service
1/10
Convenience
7/10
Trust
1/10
Less
Jane, Victoria, reviewed 21 days ago
NAB Home Loan
Overall 1/10
Worst bank in Australia

Worst bank in Australia. Be warned never ever go with this bank. Worst customer service once they have your Loan.

Read full review

Worst bank in Australia. Be warned never ever go with this bank. Worst customer service once they have your Loan.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Lee, Victoria, reviewed 26 days ago

What do you need to apply for a NAB home loan?

You can apply for a home loan with NAB online, via phone or in person at your local branch. To do this, you’ll need the following details and documentation at ready:

  • 100 points of identification - One primary photographic (i.e. passport, driver’s licence) or one primary non-photographic (i.e. birth certification) and one secondary document (i.e. Medicare card)
  • Income - Current bank statement showing last two salary payments and employer’s name and evidence of rental income, government income, shares, superannuation and self employed or trust income
  • Assets - Properties, existing investments and bank accounts
  • Financial Liabilities- Existing loans, credit cards and store cards

Depending on your circumstances, you may also need to provide: 

  • First Home Owner’s Grant application
  • Property solicitor’s/conveyancer’s details
  • Copy of Full Contract of Sale for property
  • Copy of Transfer of Land
  • Joint applicant or guarantor’s details

Home loan quick links