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NAB Home Loans

Big 4 bank with competitive rates. Particularly strong for first home buyers and self-employed borrowers.

Variable Rate from

5.84%

Fixed Rate from

5.89%

Comparison Rate

5.99%

About NAB

National Australia Bank (NAB) is one of Australia's Big 4 banks, serving over 9 million customers. Founded in 1858, NAB has built a reputation for being the most business-friendly of the majors, while also offering competitive home loan products for everyday Australians.

NAB consistently offers some of the most competitive rates among the Big 4, and their approach to self-employed borrowers and first home buyers is often more flexible than their peers. They own UBank, their online-only subsidiary, which competes at the budget end of the market.

Pros & Cons

✓ Pros

Often the most competitive Big 4 rates
Flexible self-employed assessment (1 year ABN possible)
Strong first home buyer support and programs
No monthly account fees on basic home loans
Excellent for packaging business + home lending
Good construction loan policies
Professional LMI waivers available

✗ Cons

App and digital experience behind CBA
Branch network shrinking
Processing times can be variable
Less competitive for investment loans than ANZ
Credit policy changes frequently
Annual package fee for best rates ($395/yr)

Who is NAB Good For?

✓ First Home Buyers

NAB is a strong supporter of the First Home Guarantee scheme (5% deposit, no LMI). They also accept gifted deposits and have competitive first home buyer rates.

✓ Self-Employed Borrowers

NAB is among the most flexible Big 4 banks for self-employed income. They can assess on 1 year's tax returns in some cases and have strong low-doc options.

✓ Business Owners

Package your business banking with your home loan for rate discounts. NAB's business banking heritage means they understand variable income better than most.

✓ Rate-Conscious Borrowers

NAB frequently leads the Big 4 on price. If you want Big 4 security but don't want to pay a premium, NAB is often the best value.

✗ Who Should Look Elsewhere

Those who prioritise best-in-class digital banking (try CBA)
Borrowers needing ultra-fast approval (try Macquarie or Athena)
Bad credit applicants (try Pepper Money or Liberty)
Those wanting absolute cheapest rate regardless of brand (try UBank, Athena)

NAB Home Loan Products

NAB Base Variable Home Loan

A no-frills variable loan with a competitive rate. Includes redraw but no offset account. Great if you just want the lowest rate.

Rate: 5.84% p.a. (owner-occupied, P&I, LVR <80%)

NAB Choice Package

Full-featured loan with 100% offset, unlimited extra repayments, and rate discount when bundled with NAB everyday banking.

Annual fee: $395/year (includes rate discount, fee waivers on other products)

NAB Fixed Rate Home Loan

Fix your rate for 1 to 5 years. Extra repayments allowed up to $20,000 per year during the fixed period. No offset on fixed.

Rate: 5.89% p.a. (2-year fixed, owner-occupied, P&I)

NAB Investment Property Loan

Variable and fixed options for investors. Interest-only available for up to 5 years. Suitable for negative gearing strategies.

Rate: 6.19% p.a. (investment, variable, P&I)

Key Features

Offset Account

100% offset on Choice Package loans. Link multiple offset accounts to your loan for maximum interest savings.

First Home Buyer Support

Participates in First Home Guarantee (5% deposit). Accepts gifted deposits. Dedicated first home buyer specialists.

Extra Repayments

Unlimited extra repayments on variable loans. Up to $20K/year extra on fixed. Pay your loan off faster without penalties.

Self-Employed Friendly

More flexible income assessment for business owners. Can use 1 year's financials in some cases. Strong low-doc options available.

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