NAB home loan repayment calculator

Thinking about taking out a home loan with NAB? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how NAB home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.69 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Pros
  • Large variety of home loans to choose from
  • Loans can be packaged with other financial products
  • Flexible loan features
  • Comprehensive customer support
Cons
  • Some loans have fees
  • Less competitive interest rates

NAB home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.69%

Variable

$0

2.69%

$0
NAB
More details

3.04%

Variable

$0

3.04%

$0
NAB
More details

3.09%

Variable

$0

3.09%

$0
NAB
More details

3.34%

Variable

$0

3.34%

$0
NAB
More details

3.45%

Variable

$0

3.45%

$0
NAB
More details

4.02%

Variable

$0

3.67%

$0
NAB
More details

3.29%

Variable

$0

3.71%

$0
NAB
More details

2.79%

Fixed - 5 years

$0

3.87%

$395 annually
NAB
More details

2.29%

Fixed - 3 years

$0

3.91%

$395 annually
NAB
More details

2.79%

Fixed - 4 years

$0

3.95%

$395 annually
NAB
More details

3.97%

Variable

$0

3.97%

$0
NAB
More details

2.89%

Fixed - 5 years

$600

3.99%

$8 monthly
NAB
More details

2.19%

Fixed - 2 years

$0

4.02%

$395 annually
NAB
More details

3.67%

Variable

$0

4.08%

$395 annually
NAB
More details

2.39%

Fixed - 3 years

$600

4.10%

$8 monthly
NAB
More details

2.89%

Fixed - 4 years

$600

4.11%

$8 monthly
NAB
More details

4.35%

Variable

$0

4.12%

$0
NAB
More details

2.29%

Fixed - 1 year

$0

4.17%

$395 annually
NAB
More details

2.29%

Fixed - 2 years

$600

4.25%

$8 monthly
NAB
More details

4.24%

Variable

$0

4.26%

$395 annually
NAB
More details

3.79%

Fixed - 5 years

$0

4.27%

$395 annually
NAB
More details

3.89%

Fixed - 5 years

$0

4.27%

$395 annually
NAB
More details

3.58%

Fixed - 3 years

$0

4.30%

$395 annually
NAB
More details

3.68%

Fixed - 3 years

$0

4.31%

$395 annually
NAB
More details

3.79%

Fixed - 4 years

$0

4.31%

$395 annually
NAB
More details

3.89%

Fixed - 4 years

$0

4.31%

$395 annually
NAB
More details

3.09%

Fixed - 5 years

$0

4.33%

$395 annually
NAB
More details

3.09%

Fixed - 5 years

$0

4.35%

$395 annually
NAB
More details

3.19%

Fixed - 5 years

$0

4.36%

$395 annually
NAB
More details

3.58%

Fixed - 2 years

$0

4.37%

$395 annually
NAB
More details

3.68%

Fixed - 2 years

$0

4.37%

$395 annually
NAB
More details

2.59%

Fixed - 3 years

$0

4.41%

$395 annually
NAB
More details

3.09%

Fixed - 4 years

$0

4.43%

$395 annually
NAB
More details

3.89%

Fixed - 5 years

$600

4.43%

$8 monthly
NAB
More details

3.99%

Fixed - 5 years

$600

4.43%

$8 monthly
NAB
More details

2.39%

Fixed - 1 year

$600

4.45%

$8 monthly
NAB
More details

2.59%

Fixed - 3 years

$0

4.46%

$395 annually
NAB
More details

3.09%

Fixed - 4 years

$0

4.46%

$395 annually
NAB
More details

3.19%

Fixed - 5 years

$600

4.46%

$8 monthly
NAB
More details

3.79%

Fixed - 1 year

$0

4.46%

$395 annually
NAB
More details

3.89%

Fixed - 1 year

$0

4.46%

$395 annually
NAB
More details

2.69%

Fixed - 3 years

$0

4.47%

$395 annually
NAB
More details

3.19%

Fixed - 4 years

$0

4.47%

$395 annually
NAB
More details

3.19%

Fixed - 5 years

$600

4.51%

$8 monthly
NAB
More details

3.89%

Fixed - 4 years

$600

4.51%

$8 monthly
NAB
More details

3.99%

Fixed - 4 years

$600

4.51%

$8 monthly
NAB
More details

3.29%

Fixed - 5 years

$600

4.52%

$8 monthly
NAB
More details

3.68%

Fixed - 3 years

$600

4.54%

$8 monthly
NAB
More details

3.78%

Fixed - 3 years

$600

4.54%

$8 monthly
NAB
More details

2.49%

Fixed - 2 years

$0

4.55%

$395 annually
NAB
More details

3.19%

Fixed - 4 years

$600

4.59%

$8 monthly
NAB
More details

2.69%

Fixed - 3 years

$600

4.61%

$8 monthly
NAB
More details

2.58%

Fixed - 2 years

$0

4.63%

$395 annually
NAB
More details

2.69%

Fixed - 2 years

$0

4.63%

$395 annually
NAB
More details

3.68%

Fixed - 2 years

$600

4.64%

$8 monthly
NAB
More details

3.78%

Fixed - 2 years

$600

4.64%

$8 monthly
NAB
More details

4.52%

Variable

$600

4.65%

$8 monthly
NAB
More details

3.19%

Fixed - 4 years

$600

4.66%

$8 monthly
NAB
More details

3.29%

Fixed - 4 years

$600

4.67%

$8 monthly
NAB
More details

4.27%

Variable

$0

4.67%

$395 annually
NAB
More details

2.69%

Fixed - 3 years

$600

4.70%

$8 monthly
NAB
More details

2.79%

Fixed - 3 years

$600

4.70%

$8 monthly
NAB
More details

2.59%

Fixed - 1 year

$0

4.73%

$395 annually
NAB
More details

4.57%

Variable

$0

4.75%

$395 annually
NAB
More details

3.89%

Fixed - 1 year

$600

4.77%

$8 monthly
NAB
More details

3.99%

Fixed - 1 year

$600

4.77%

$8 monthly
NAB
More details

2.59%

Fixed - 2 years

$600

4.78%

$8 monthly
NAB
More details

2.69%

Fixed - 1 year

$0

4.81%

$395 annually
NAB
More details

2.79%

Fixed - 1 year

$0

4.82%

$395 annually
NAB
More details

5.09%

Variable

$600

4.87%

$8 monthly
NAB
More details

2.69%

Fixed - 2 years

$600

4.90%

$8 monthly
NAB
More details

2.79%

Fixed - 2 years

$600

4.91%

$8 monthly
NAB
More details

2.69%

Fixed - 1 year

$600

5.02%

$8 monthly
NAB
More details

2.79%

Fixed - 1 year

$600

5.13%

$8 monthly
NAB
More details

2.89%

Fixed - 1 year

$600

5.13%

$8 monthly
NAB
More details

5.12%

Variable

$600

5.25%

$8 monthly
NAB
More details

5.42%

Variable

$600

5.36%

$8 monthly
NAB
More details

NAB customer service

Home loan customers at NAB are able to speak to customer support by contacting the home loan hotline seven days a week, or by popping into a NAB branch, emailing the bank directly or by filling out an online enquiry form. Potential NAB customers can also chat with a customer service representative via the online chat function or can contact a NAB mobile banker directly.

  • Customer service (phone, email, branch)
  • Mobile app
  • Online banking
  • Live Chat
  • Mobile banking staff

How to apply for an NAB home loan

NAB provides potential customers with multiple ways to apply for a home loan. This includes calling the bank, applying online, visiting a branch or organising for a NAB Mobile Banker to come to you. 

Before applying for a home loan, think about how much you can afford to borrow given your financial situation and income. 

You will also need to provide documentation when applying for a home loan, including:

  • Personal identification
  • Proof of income – whether you are self-employed or work for an employer
  • Proof of other income, including rental from investment properties
  • Information regarding your current debts, liabilities and assets

About NAB home loans

As one of Australia’s big four banks, NAB offers a wide variety of mortgages that suit almost every type of borrower, including:

  • First home buyers
  • Upgraders
  • Investors
  • Renovators
  • Refinancers

Those who choose a NAB mortgage can choose from a variety of interest rate options, including:

  • Principal-and-interest home loans
  • Interest-only home loans
  • Variable interest rates
  • Fixed interest rates
  • Split loans

Mortgage borrowers may be able to earn discounts and fee waivers when they combine their home loan with other NAB products, like credit cards. Some NAB home loans also offer lower (temporary) introductory interest rates and interest rate discounts.

NAB generally charges an application fee and annual service fee for its home loans, though some offers may waive some or all of these fees. 

NAB home loan rates

While NAB doesn’t always offer the lowest rates on the market, it attracts customers with its well-known brand, extensive branch network, and convenience.

As a general rule, NAB home loans for owner-occupiers have lower interest rates than mortgages for investors, and borrowers who choose principal and interest loans tend to get lower interest rates than those who choose interest-only mortgages. 

NAB also offers home loan rates for variable and fixed mortgages. Rates can be fixed for a term between one and five years, with the longer fixed terms more often charging higher fixed interest rates. 

NAB home loans review

NAB is well-known and well-regarded by many Australians, and provides home loan options that could be suited to almost any type of borrower. There are NAB home loans suited to first-time buyers, renovators, refinancers, and investors. 

NAB home loans can be principal and interest or interest-only. Borrowers can also choose for their mortgages to be variable, fixed, or split.

While NAB doesn’t always offer the lowest home loan interest rates on the market, and you may need to account for application and ongoing fees, bundling or packaging your mortgage with other NAB financial products may let you enjoy extra value or see some of your fees waived.

Learn more about NAB

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

What is the difference between fixed, variable and split rates?

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

How can I calculate interest on my home loan?

You can calculate the total interest you will pay over the life of your loan by using a mortgage calculator. The calculator will estimate your repayments based on the amount you want to borrow, the interest rate, the length of your loan, whether you are an owner-occupier or an investor and whether you plan to pay ‘principal and interest’ or ‘interest-only’.

If you are buying a new home, the calculator will also help you work out how much you’ll need to pay in stamp duty and other related costs.

What is a fixed home loan?

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

What are the pros and cons of no-deposit home loans?

It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.

The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.

But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

What is an interest-only loan? How do I work out interest-only loan repayments?

An ‘interest-only’ loan is a loan where the borrower is only required to pay back the interest on the loan. Typically, banks will only let lenders do this for a fixed period of time – often five years – however some lenders will be happy to extend this.

Interest-only loans are popular with investors who aren’t keen on putting a lot of capital into their investment property. It is also a handy feature for people who need to reduce their mortgage repayments for a short period of time while they are travelling overseas, or taking time off to look after a new family member, for example.

While moving on to interest-only will make your monthly repayments cheaper, ultimately, you will end up paying your bank thousands of dollars extra in interest to make up for the time where you weren’t paying off the principal.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

What is the best interest rate for a mortgage?

The fastest way to find out what the lowest interest rates on the market are is to use a comparison website.

While a low interest rate is highly preferable, it is not the only factor that will determine whether a particular loan is right for you.

Loans with low interest rates can often include hidden catches, such as high fees or a period of low rates which jumps up after the introductory period has ended.

To work out the best value for money, have a look at a loan’s comparison rate and read the fine print to get across all the fees and charges that you could be theoretically charged over the life of the loan.

How do I know if I have to pay LMI?

Each lender has its own policies, but as a general rule you will have to pay lender’s mortgage insurance (LMI) if your loan-to-value ratio (LVR) exceeds 80 per cent. This applies whether you’re taking out a new home loan or you’re refinancing.

If you’re looking to buy a property, you can use this LMI calculator to work out how much you’re likely to be charged in LMI.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor.