NAB
National Australia Bank, more commonly known as NAB, is one of the big four banks in Australia. NAB is headquartered in Melbourne and has more than 900 locations across the country. NAB has over 30,000 employees who serve over 9,000,000 customers.
NAB offers a wide range of home loan products, including mortgages for first-time buyers, investors, and renovators. It also offers customers the option of moving their current home loan to NAB.
- Large variety of home loan products to choose from.
- Loans can be packaged with other products.
- Flexible loan features.
- Comprehensive customer support.
- Some loans have fees.
- Less competitive interest rates.
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
NAB home loans
| Product | Advertised rate | Upfront fee | Comparison rate* | Ongoing fee | Go To Site |
|---|---|---|---|---|---|
Advertised rate 3.69%Variable | Upfront fee $600.00 | Comparison rate* 3.73% | Ongoing fee $0 | View Now Compare | |
Advertised rate 4.39%Variable | Upfront fee $0 | Comparison rate* 4.78% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 4.09%Fixed - 5 years | Upfront fee $0 | Comparison rate* 4.80% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 3.94%Fixed - 3 years | Upfront fee $0 | Comparison rate* 4.84% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 3.69%Fixed - 2 years | Upfront fee $0 | Comparison rate* 4.86% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 3.88%Fixed - 2 years | Upfront fee $0 | Comparison rate* 4.89% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 4.19%Fixed - 5 years | Upfront fee $600.00 | Comparison rate* 4.93% | Ongoing fee $8 monthly | View Now Compare | |
Advertised rate 3.89%Fixed - 1 year | Upfront fee $0 | Comparison rate* 4.96% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 4.04%Fixed - 3 years | Upfront fee $600.00 | Comparison rate* 5.05% | Ongoing fee $8 monthly | View Now Compare | |
Advertised rate 3.98%Fixed - 2 years | Upfront fee $600.00 | Comparison rate* 5.13% | Ongoing fee $8 monthly | View Now Compare | |
Advertised rate 3.99%Fixed - 1 year | Upfront fee $600.00 | Comparison rate* 5.25% | Ongoing fee $8 monthly | View Now Compare | |
Advertised rate 4.09%Fixed - 3 years | Upfront fee $0 | Comparison rate* 5.28% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 4.09%Fixed - 2 years | Upfront fee $0 | Comparison rate* 5.37% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 4.09%Fixed - 1 year | Upfront fee $0 | Comparison rate* 5.49% | Ongoing fee $395 annually | View Now Compare | |
Advertised rate 4.19%Fixed - 3 years | Upfront fee $600.00 | Comparison rate* 5.49% | Ongoing fee $8 monthly | View Now Compare | |
Advertised rate 4.19%Fixed - 2 years | Upfront fee $600.00 | Comparison rate* 5.62% | Ongoing fee $8 monthly | View Now Compare | |
Advertised rate 4.39%Fixed - 1 year | Upfront fee $600.00 | Comparison rate* 5.79% | Ongoing fee $8 monthly | View Now Compare |
Choice Package Tailored Home Loan (Principal and Interest) ($250k-$750k) Advertised rate 4.39%VariableUpfront fee $0Comparison rate* 4.78%Ongoing fee $395 annually | |
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Choice Package Tailored Home Loan Fixed (Principal and Interest) 5 Years Advertised rate 4.09%Fixed - 5 yearsUpfront fee $0Comparison rate* 4.80%Ongoing fee $395 annually | |
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Choice Package Tailored Home Loan Fixed (Principal and Interest) 3 Years Advertised rate 3.94%Fixed - 3 yearsUpfront fee $0Comparison rate* 4.84%Ongoing fee $395 annually | |
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Choice Package Tailored Home Loan Fixed (Principal and Interest) 2 Years Advertised rate 3.88%Fixed - 2 yearsUpfront fee $0Comparison rate* 4.89%Ongoing fee $395 annually | |
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Tailored Home Loan Fixed (Principal and Interest) 5 Years Advertised rate 4.19%Fixed - 5 yearsUpfront fee $600.00Comparison rate* 4.93%Ongoing fee $8 monthly | |
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Choice Package Tailored Home Loan Fixed (Principal and Interest) 1 Year Advertised rate 3.89%Fixed - 1 yearUpfront fee $0Comparison rate* 4.96%Ongoing fee $395 annually | |
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Tailored Home Loan Fixed (Principal and Interest) 3 Years Advertised rate 4.04%Fixed - 3 yearsUpfront fee $600.00Comparison rate* 5.05%Ongoing fee $8 monthly | |
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Tailored Home Loan Fixed (Principal and Interest) 2 Years Advertised rate 3.98%Fixed - 2 yearsUpfront fee $600.00Comparison rate* 5.13%Ongoing fee $8 monthly | |
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Tailored Home Loan Fixed (Principal and Interest) 1 Year Advertised rate 3.99%Fixed - 1 yearUpfront fee $600.00Comparison rate* 5.25%Ongoing fee $8 monthly | |
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Choice Package Tailored Investment Loan Fixed (Principal and Interest) 3 Years Advertised rate 4.09%Fixed - 3 yearsUpfront fee $0Comparison rate* 5.28%Ongoing fee $395 annually | |
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Choice Package Tailored Investment Loan Fixed (Principal and Interest) 2 Years Advertised rate 4.09%Fixed - 2 yearsUpfront fee $0Comparison rate* 5.37%Ongoing fee $395 annually | |
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Choice Package Tailored Investment Loan Fixed (Principal and Interest) 1 Year Advertised rate 4.09%Fixed - 1 yearUpfront fee $0Comparison rate* 5.49%Ongoing fee $395 annually | |
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Tailored Investment Loan Fixed (Principal and Interest) 3 Years Advertised rate 4.19%Fixed - 3 yearsUpfront fee $600.00Comparison rate* 5.49%Ongoing fee $8 monthly | |
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Tailored Investment Loan Fixed (Principal and Interest) 2 Years Advertised rate 4.19%Fixed - 2 yearsUpfront fee $600.00Comparison rate* 5.62%Ongoing fee $8 monthly | |
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Tailored Investment Loan Fixed (Principal and Interest) 1 Year Advertised rate 4.39%Fixed - 1 yearUpfront fee $600.00Comparison rate* 5.79%Ongoing fee $8 monthly | |
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How to Apply
NAB provides potential customers with multiple ways of applying 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 it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:
- Personal identification material.
- Proof of income – whether you are self-employed or work for an employer.
- Proof of other income, including rental.
- 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:
- First home buyers
- Upgraders
- Investors
- Renovators
- Refinancers
Those who choose a NAB mortgage can choose from a variety of interest rate options:
- Principal-and-interest home loans
- Interest-only home loans
- Variable interest rates
- Fixed interest rates
- Split loans
Mortgage borrowers are able to earn discounts and fee waivers when they combine their home loan with other NAB products, like credit cards. Some NAB home loans offer lower (temporary) introductory interest rates and interest rate discounts.
While some home loans waive their monthly and ongoing fees, NAB home loan fees that are not waived tend to range from moderately high to high. In general, NAB home loans charge an application fee and annual service fee.
NAB home loan rates
Similar to the other big four banks, NAB doesn’t attempt to offer the lowest rates on the market. Rather, it attracts customers with its well-known brand, extensive branch network, and convenience.
NAB home loan rates vary from product to product, but they tend to be on the high side of the spectrum. As a general rule, NAB products for owner-occupiers have lower interest rates than products for investors, and borrowers who choose principal-and-interest loans get lower interest rates than those who choose interest-only mortgages. For variable mortgages, interest rates tend to start lower for loan amounts that are higher.
NAB also offers home loan rates for variable and fixed mortgages. Rates can be fixed for a term between one and five years, with higher fixed interest rates generally applying to loans with longer terms.
NAB home loans review
Because of its well-known name, NAB is regarded as a ‘safe’ home loan option by many borrowers. It’s worth remembering that there are always risks involved whenever you apply for any type of credit.
NAB provides home loans for almost every type of borrower in Australia. There are NAB home loans suited to first-time buyers, renovators, refinancers, and investors. Customers who already have a current home loan have the option of moving their mortgage to NAB.
NAB home loans can be principal-and-interest or interest-only. Borrowers can also choose for their mortgages to be variable, fixed, or split.
In terms of interest rates, NAB tends to be at the more expensive end of the market. NAB home loan rates tend to be moderately high or high.
NAB home loan fees also tend to be high. Although many of NAB’s mortgages will waive ongoing fees, other products charge an application fee and ongoing annual fees that are at the higher end of the market.
