NAB home loans

Compare NAB home loans and review eligibility.

By   |   Verified by David Boyd   |   Updated 30 Nov 2023

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Comparing NAB home loans for over years

NAB Base Variable Rate Home Loan (Investor, Principal and Interest)

NAB Base Variable Rate Home Loan (Investor, Principal and Interest)

Interest rate (p.a.)


Comp rate^ (p.a.)




Application fee


Monthly repayment


Total repayment



  • Flexible repayment options
  • Access to redraw with no fees
  • No early repayment, or ongoing monthly service or annual fees.

National Australia Bank, better known as NAB, is a listed company and major bank lender with origins going back to 1858. As one of Australia’s Big Four banks, it serves millions of customers with home loans, personal lending, bank accounts and credit cards at over 900 locations across Australia, New Zealand and around the world.

Product offerings

Here are the key features of current NAB owner-occupier home loans and investment property loans.

NAB Basic variable rate home loan

This is the simplest loan type offered, with no ongoing fees.

  • Borrow up to 80% LVR with no LMI
  • Borrow up to 95% LVR with LMI
  • Low variable interest rate
  • No application fee
  • No monthly ongoing or annual fees
  • Unlimited additional payments
  • Access to redraws if you have paid ahead (with $500 minimum redraw)

NAB Variable rate home loan with offset account

Additional flexibility, features and discounts come when a variable rate loan is bundled with a NAB Choice Package.

  • Choice of principal and interest or interest only repayment
  • Option to split loan into variable and fixed portions
  • Borrow up to 80% LVR with no LMI
  • Annual package fee payable, but no application fee or ongoing fees
  • Access to offset account
  • Unlimited additional repayments
  • NAB credit card annual fee waiver or discount
  • Can be used as an investment property loan

NAB Fixed rate home loan

NAB’s fixed rate home loan has similar extra features to the variable rate loan, when bundled with a NAB Choice Package.

  • Choice of fixed period from 1 to 5 years
  • Repayment certainty with locked-in interest rate (unless you choose a split loan)
  • Flexible repayment option (weekly, fortnightly or monthly)
  • Borrow up to 80% LVR with no LMI
  • Pay ahead up to a limit of $20,000 during fixed term, with no penalty fee
  • Additional discounts and benefits with NAB Choice Package

NAB Tailored Home Loan

This is NAB’s most flexible option, a loan that can be adapted to many purposes.

  • Choice of variable, fixed or split loans
  • Interest-only option available
  • Borrow up to 80% LVR with no LMI
  • 100% offset account
  • Can be used as a construction loan
  • Can be used as a property investment loan
  • Easy redraw if you’ve paid ahead (variable rate loan only)
  • Additional repayment options (limited to $20,000 for fixed rate loans)

Record on rate cuts

Along with other big banks, NAB passed on interest rate cuts to their customers when the RBA revised rates downwards in March and November 2020.

Eligibility and documentation

To apply for a NBA home loan, you need the following:

  • One primary photographic form of ID, such as passport or driver’s licence, and one non-photographic form such as a birth certificate
  • One secondary document, like a recent utility bill
  • Income details (two most recent pay slips, or accountant’s details and two years’ financial statements for the self-employed)
  • Superannuation details
  • Centrelink income statement if applicable
  • Rental property income or other investment income details, if applicable
  • Information about your assets and supporting documents for
    • Non-NAB savings accounts
    • Shares, property or significant assets
  • Information about your debts, such as non-NAB loans and credit cards
  • Details of the property owner or estate agent if you're currently renting

Pros and cons

Here are the pros and cons of home loan borrowing with NAB.


  • Approvals for 95% LVR loans with LMI
  • Construction loans and investment property loans available
  • Split loans and interest-only loans offered
  • Offset account and redraw facilities available
  • Basic variable loan has no application fee or ongoing fees
  • Less usual income types – self-employed, Centrelink, investment income – taken into account
  • Extensive branch network


  • High annual fee for NAB Choice package
  • Extensive documentation requirements for eligibility
  • Conservative approach to credit history and scoring
  • $500 minimum redraw amount
  • $20,000 maximum redraw on some loan types