Are there any savings if I refinance my home loan to NAB?

Yes, refinancing to NAB can save you money. For example, a $500,000 loan saves $134 per month, totaling $48,094 over 30 years.

Does NAB offer any LMI waivers for professionals?

Yes, NAB offers LMI waivers for eligible professionals in finance, law, and medicine, depending on the loan type and LVR ratio.

What happens if NAB's online banking system has an outage?

NAB has experienced frequent system outages, which can affect payment services. It's advisable to have alternative payment methods ready during these times.

How much would my monthly repayments be on a $600,000 loan with NAB?

For a $600,000 loan at 6.09% over 30 years, your monthly repayment would be $3,632, with a total interest of $707,554.

What are the benefits of NAB's no application fee?

NAB's no application fee saves borrowers approximately $600 upfront, making the loan more affordable from the start.

Are there any hidden catches with NAB's online banking?

NAB's online banking allows hiding accounts, which can lead to oversight of balances and potential financial mismanagement if not monitored closely.

How much can I save on a $1,000,000 loan with NAB?

With NAB, you can save $267 per month on a $1,000,000 loan, totaling $96,188 over 30 years.

What support does NAB offer for small business lending?

NAB provides increased support for small business lending with dedicated Small Business Bankers and BDMs, offering both face-to-face and phone support.

UPDATED JUL 15, 2026

NATIONAL AUSTRALIA BANK Home Loans: The 2026 Review

Save thousands with LMI waivers for finance, law, and medicine professionals. Watch out for hidden accounts in NAB's online banking. Ready to explore your options?

Bheja Verdict

Very Good

4.2/5

✓

Highly competitive rates across products

✓

Great features: offset account, redraw facility

Check Eligibility

NATIONAL AUSTRALIA BANK Home Loans At a Glance

🏷️Best Rate Available

6.09%

Variable • Owner Occupied

💳Application Fee

Fee-free options available

📅Monthly Fee

Fee-free options available

Loan Range:$20K - $100.0M

LVR:Up to 96%

Products:147 variations

Offset Account:Available

Current NATIONAL AUSTRALIA BANK Home Loan Rates

Last updated: July 2026

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Average Rate: 6.33%
Best Rate: 6.09%
Monthly Payment: $3,027

Advanced

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NAB Defence Force Home Loan
NATIONAL AUSTRALIA BANK
Min 5% DepositOffsetRedraw
6.09%
Interest Rate
Variable
6.22%
Comparison Rate*
$3,027
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Discharge $350+ other fees may apply
NAB Tailored Home Loan
NATIONAL AUSTRALIA BANK
20%-30% DepositOffsetRedraw
6.19%
Interest Rate
Variable
6.32%
Comparison Rate*
$3,059
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Ongoing/month $12Discharge $350+ other fees may apply
NAB Base Variable Rate Home Loan
NATIONAL AUSTRALIA BANK
Min 5% DepositRedraw
6.44%
Interest Rate
Variable
6.44%
Comparison Rate*
$3,141
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Discharge $350+ other fees may apply
NAB Tailored Home Loan
NATIONAL AUSTRALIA BANK
4%-20% DepositOffsetRedraw
6.59%
Interest Rate
Variable
6.72%
Comparison Rate*
$3,190
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Ongoing/month $12Discharge $350+ other fees may apply

NATIONAL AUSTRALIA BANK Product Statistics

Real-time insights and market analysis

NATIONAL AUSTRALIA BANK offers 4 home loan products across 147 variations, the average variable rate is 6.79% p.a., the best available rate is 6.09% p.a..

Average Variable Rate

6.79%

22 products

Average Fixed Rate

6.68%

125 products

Best Available Rate

6.09%

Variable • Owner Occupied • P&I

Total Products

147 variations

Fee Summary

Application Fee

95% fee-free

$0 - $600

Monthly Fee

1% fee-free

$0 - $12

Discharge Fee

$350

Late Payment Fee

Key Features

Across NATIONAL AUSTRALIA BANK's range: 142 include an offset account, 146 offer redraw, 146 allow extra repayments, 142 support split loans.

Offset Account

97%

Redraw Facility

99%

Extra Repayments

99%

Split Loan

97%

Product Ranges

NATIONAL AUSTRALIA BANK's interest rates range from 6.09% to 10.11% p.a., maximum LVR from 60% to 96%, loan amounts span $20,000 to $100,000,000.

Interest Rates6.09% — 10.11%

Max LVR60% — 96%

Loan Amount$20K — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How NATIONAL AUSTRALIA BANK Compares

FEATURE	NATIONAL AUSTRALIA BANK	ANZ	CommBank	Westpac
Best Variable Rate	6.09%	6.39%	6.09%	5.99%
Best Fixed Rate (3yr)	6.49%BEST	6.49%	6.49%	6.54%
Application Fee	$0BEST	$0	$300	$0
Monthly Admin Fee	$0BEST	$0	$10	$0
Offset Account
Redraw Facility
Product Variations	147	128	71	173

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Bheja Insight: NATIONAL AUSTRALIA BANK waives application fees, saving borrowers hundreds compared to other big 4 banks.

About NATIONAL AUSTRALIA BANK

Company overview and contact information

National Australia Bank (NAB), established in 1982, is a prominent player in the Australian banking sector, forming part of the Big 4 Banks. It was created through the merger of the National Bank of Australasia and the Commercial Banking Company of Sydney. Headquartered in Melbourne, NAB is a major financial institution with a diverse ownership structure, including institutional and retail investors. It is regulated by APRA as an Authorised Deposit-taking Institution (ADI) and holds an Australian Financial Services Licence (AFSL 230686).

NAB offers a comprehensive range of home loan products, with 147 variations tailored to meet diverse customer needs. Their interest rates range from 6.09% to 10.11%, and they provide flexible repayment options with no ongoing fees. NAB's lending solutions are accessible through both branch networks and online platforms, catering to a wide array of borrowers, from first-time homebuyers to seasoned investors.

What sets NAB apart is its commitment to community support through microfinance programs in partnership with Good Shepherd Microfinance, offering no and low-interest loans to low-income Australians. Additionally, NAB is known for its low variable interest rates and robust support for small business lending, providing a seamless experience with a single online application for both residential and business loans.

Company Details

Legal Name: NATIONAL AUSTRALIA BANK

ABN: 12004044937

ACN: 004044937

Established: 1982

Headquarters: Melbourne, Australia

Ownership: Big 4 Bank

AFSL: 230686

Key Features

National Australia Bank offers flexible home loan solutions with features like a 100% interest offset arrangement and the ability to mix fixed and variable rates, catering to diverse borrower needs.

100% Interest Offset Arrangement

NAB provides a 100% interest offset option for variable rate home loans, allowing borrowers to link up to 10 offset accounts. This feature helps reduce the interest payable on the loan, potentially saving thousands over the loan term.

Redraw Facility

With NAB, if you're at least one full repayment ahead, you can redraw $500 or more from your variable rate loan without fees. This feature offers flexibility in managing unexpected expenses, although it is not available for fixed rate loans.

Unlimited Additional Repayments

NAB allows unlimited additional repayments on variable rate loans and up to $20,000 on fixed rate loans. This enables borrowers to pay off their loans faster, reducing the overall interest cost.

NAB App Features

The NAB App provides tools to track home loan progress, estimate property equity, and manage repayments. This digital feature enhances convenience by allowing borrowers to manage their loans on the go.

Mix of Fixed and Variable Rates

Borrowers can choose a mix of fixed and variable interest rates with NAB, providing flexibility to benefit from stable payments and potential interest savings.

No Ongoing Fees

NAB's Base Variable Rate Home Loan offers no ongoing fees, helping borrowers save on regular costs associated with maintaining a loan.

Flexible Repayment Options

NAB offers flexible repayment schedules, allowing borrowers to choose weekly, fortnightly, or monthly payments. This flexibility helps align loan payments with personal cash flow needs.

Construction Loan Options

NAB provides construction loan options with progressive payments to builders and interest-only repayment terms for one or two years, catering to borrowers building new homes.

Fees & Charges

National Australia Bank offers a comprehensive range of home loan products with a transparent fee structure, including both upfront and ongoing fees. Borrowers can benefit from various fee waivers and special offers, though some fees may vary by product.

Fee Type

Amount

Description

Application Fee

$0-$600

$0 for most loans, $600 for NAB Flexiplus Mortgage (currently waived).

Business Name Search Fee

$40

Charged per search for company or business name verification.

Monthly Service Fee

$8/month

Applies to NAB Tailored Home Loan.

Mortgage Discharge Fee

$350

Covers preparation, settlement attendance, and document lodgement.

Annual Package Fee

$395-$550/year

$395 for NAB Choice Package, $550 for NAB Portfolio/Private Portfolio Package.

Production of Documents Fee

$150

Charged for producing loan documents upon request.

NAB Platinum Visa Debit Card Fee

$10/month

Charged per card for NAB Platinum Visa Debit.

International Transaction Fee

3.5% of AUD amount

Applies to international transactions in single and multi-currency.

Rate Lock Fee

0.15% of approved facility limit

Secures the interest rate for a fixed period before loan settlement.

Facility Fee

$250/year

Applies to NAB Flexiplus Mortgage.

ATM Cash Withdrawal (Overseas)

Charged per withdrawal at overseas ATMs.

International Money Transfer Fee

$20-$30

$30 via NAB Internet Banking or banker assisted, $20 for cancellation request.

Request to Change Card Colour

$20

Fee per request to change the colour of a NAB card.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

NATIONAL AUSTRALIA BANK offers home loans to individuals who meet specific age, residency, and financial criteria, ensuring broad accessibility for eligible applicants. Whether you're a first-time homebuyer or a professional seeking an LMI waiver, NAB provides tailored options to suit diverse needs.

Must be at least 18 years old to apply.

Applicant must be an Australian citizen, permanent resident, or New Zealand citizen. Restrictions apply if the residential address is overseas.

Applicants must meet specific lending criteria, including proof of income and employment stability.

A good credit history is required to qualify for a home loan.

Loan-to-Value Ratio (LVR) must be between 60% and 96%.

Lenders Mortgage Insurance (LMI) is required for loans with an LVR above 80%, unless waived for eligible professionals.

Applicants must be natural persons, not other legal entities.

Eligible Australian Defence Force members can apply for the NAB Defence Force Home Loan.

Minimum loan amount is $20,000, with a maximum of $99,999,999.

Important Notes

LMI is required for loans with an LVR above 80%, protecting the lender if the borrower defaults.
Professionals in fields like finance, law, and medicine may qualify for an LMI waiver, subject to specific criteria.
NAB offers microfinance programs with no or low interest loans for low-income Australians.
NAB does not offer interest-only home loans for owner-occupiers, which may limit options for some borrowers.

NATIONAL AUSTRALIA BANK Home Loan Pros & Cons

Our expert take on whether NATIONAL AUSTRALIA BANK is right for you

Pros

+Competitive rates with potential savings over market average
+100% interest offset arrangement for variable loans
+No ongoing fees
+Flexible repayment options
+LMI waivers for eligible professionals

Cons

–Customer service complaints about long wait times
–No interest – only loans for owner-occupiers
–High mortgage discharge fee

Best For

Medical professionals wanting LMI waivers
Borrowers seeking offset accounts
Customers looking for no ongoing fees

Not Ideal For

Borrowers needing interest-only options for owner-occupiers
Customers prioritizing excellent customer service

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Bheja Verdict: National Australia Bank offers competitive home loan rates with attractive features like offset accounts and flexible repayment options, but customer service issues may deter some borrowers.

Expert Secrets (Why Use Us?)

Insider knowledge about NATIONAL AUSTRALIA BANK that most borrowers don't know

LMI Waivers by Profession

Profession	Deposit	LMI Status	Savings
Finance	10%	Waived	—
Law	10%	Waived	—
Medicine	10%	Waived	—

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000.

2At 90% LVR, the LMI for a $500,000 loan increases to $12,500.

3A $500,000 loan at 95% LVR incurs an LMI cost of $21,000.

4For a $750,000 loan at 85% LVR, LMI is $9,000, rising to $18,750 at 90% LVR.

Fee Waivers

$0 application fee for unsecured personal loans.

$0 international transfer fee when sending in foreign currency.

Offset Benefits

A $10,000 offset account can save you $51 per month, totaling $612 annually.

With a $25,000 offset, you save $127 monthly, which adds up to $1,524 per year.

A $50,000 offset results in $254 monthly savings, equating to $3,048 annually.

A $100,000 offset provides $508 in monthly savings, totaling $6,096 per year.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps

Submit Discharge Request Form: Obtain and complete the discharge request form from National Australia Bank (NAB). This form is essential to initiate the discharge process. (Tip: Contact NAB customer service at 13 78 79 if you need assistance with the form.)

Pay the Discharge Fee: Pay the $350 discharge fee, which covers preparation, settlement attendance, and document lodgement. (Tip: Ensure the payment is processed to avoid any delays in the discharge process.)

Allow Processing Time: Allow at least 10 business days for NAB to process your discharge request. (Tip: Start the process early to accommodate this timeline and avoid last-minute issues.)

Attend Settlement (if required): Be prepared to attend the settlement if necessary. This may involve coordinating with your solicitor or conveyancer. (Tip: Confirm with NAB if your presence is required at the settlement.)

Ensure Document Lodgement: Verify that all necessary documents are lodged correctly to complete the discharge process. (Tip: Double-check with NAB or your legal representative to ensure all paperwork is in order.)

Processing Times

Discharge Process10-14 business days

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Pro Tips

Request the discharge at least 2 weeks before your desired settlement date to avoid delays.
Ensure all fees are paid promptly to prevent processing issues.
Keep a copy of all submitted documents for your records.
Contact NAB customer service for any clarifications or questions.
Consider consulting with a legal professional to ensure all steps are correctly followed.

NATIONAL AUSTRALIA BANK Mortgage Calculator

Estimate your repayments using current NATIONAL AUSTRALIA BANK home loan rates

Over 30 years, borrowing $480,000 at 6.09%, total cost including interest and known fees could be around $1,046,543. Estimated monthly repayment: $2,905.68.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,046,543

Estimated repayment

$2,905.68

monthly repayment

Amount you borrow: $480,000 · At 6.09% · Variable — can change with the market

This loan can be split between fixed and variable. This estimate uses one option only.

Known fees in this estimate

Document fee: $150
Discharge fee: $350
Total ongoing fees (30 yrs): $0

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $566,043
Upfront fees: $150
Ongoing fees: $0
Discharge fee: $350
Estimated total cost: $1,046,543

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if NATIONAL AUSTRALIA BANK is right for you? Our brokers can help you compare options.

Frequently Asked Questions

For simple applications, NAB aims for a 1-hour approval. Most general applications are approved within one business day, while complex ones may take up to 10 days.