NATIONAL AUSTRALIA BANK Home Loans: The 2026 Review

National Australia Bank Limited (NAB) was established in 1858, marking its place as a foundational institution in the Australian financial sector. The bank's current form emerged from the 1982 merger of the National Bank of Australasia and the Commercial Banking Company of Sydney. This merger was a significant milestone that helped shape NAB's identity and expand its reach across the nation. Today, NAB is headquartered in Docklands, Melbourne, and continues to be a major player in the banking industry.

NAB is recognised as one of Australia's Big 4 banks, a testament to its extensive operations and comprehensive range of financial services. The bank has built a reputation for digital innovation, offering a seamless mobile banking experience that enhances customer engagement. NAB differentiates itself with features like a 100% interest offset arrangement for variable rate home loans, allowing borrowers to maximise their savings. Despite facing challenges such as higher fees compared to smaller lenders, NAB remains competitive through strategic offers and a focus on customer service.

NAB's target market spans from first-time home buyers to seasoned investors, providing tailored financial solutions to a broad customer base. With a robust branch network and a strong online presence, NAB serves customers nationwide. Its commitment to innovation and customer-centric services ensures it remains a preferred choice for Australians seeking reliable and comprehensive financial solutions.

• Legal Name: National Australia Bank Limited
• ABN: 12004044937
• ACN: 004044937
• Established: 1858
• Headquarters: 800 Bourke Street, Docklands, VIC 3008
• Type: Public Company
• Ownership: Big 4

• Website: https://www.nab.com.au
• Phone: 13 22 65
• Address: 800 Bourke Street, Docklands, VIC 3008

National Australia Bank (NAB) offers a range of flexible home loan features designed to provide significant savings and convenience for borrowers. With options like a 100% interest offset arrangement and digital tools for managing loans, NAB caters to diverse financial needs.

• 100% Interest Offset Arrangement: NAB provides a 100% interest offset arrangement for variable rate home loans, allowing borrowers to reduce the interest payable by offsetting their loan balance against up to 10 linked accounts. This feature can lead to substantial interest savings over the life of the loan.
• Redraw Facility: Borrowers who are at least one full repayment ahead can redraw a minimum of $500 without any fees. This feature offers flexibility in managing finances, allowing access to extra funds when needed through NAB Internet Banking.
• Additional Repayments on Fixed Loans: NAB allows additional repayments of up to $20,000 during the fixed term of a loan. This provides borrowers with the opportunity to pay down their loan faster, potentially reducing the interest paid over time.
• NAB App for Loan Management: The NAB App enables borrowers to track their home loan progress, estimate property equity, and manage their finances conveniently from their mobile devices. This digital tool enhances loan management and provides real-time insights.
• Mix of Fixed and Variable Rates: NAB offers the flexibility to split a loan into fixed and variable rate portions. This allows borrowers to benefit from the stability of fixed rates while taking advantage of potential interest rate decreases with variable rates.
• Interest Rate Discounts and No Application Fees: For select products, NAB offers interest rate discounts for larger loans and package deals, along with no application fees. These features can significantly reduce the overall cost of borrowing.
• Flexible Repayment Options: Borrowers can choose their repayment frequency—weekly, fortnightly, or monthly—providing flexibility to align with personal cash flow preferences. This adaptability helps in better financial planning.
• Construction Loan Options: NAB’s construction loans allow for progressive payments to builders and offer interest-only repayment options for up to two years. This is ideal for borrowers building a new home, providing financial flexibility during construction.

National Australia Bank (NAB) offers a transparent fee structure with several fee waivers and discounts, particularly for home loans, making it an appealing choice for borrowers seeking cost-effective solutions.

• Application Fee: $0 - No application fee is charged for certain home loans, reducing initial borrowing costs.
• Business Name Search: $40 - This fee applies when a business name search is required during the loan application process.
• Monthly Service Fee: $8 (Monthly) - A recurring fee for maintaining the loan account, applicable to some loan products.
• Mortgage Discharge Fee: $350 - Charged when the mortgage is fully paid off and the property title is transferred back to the borrower.
• Production of Documents: $150 - This fee is incurred when documents related to the loan are requested by the borrower.
• Extra Repayment Penalty: Variable - Applies to fixed rate loans if extra repayments exceed $20,000 during the fixed term.
• Rate Lock Fee: Variable - This optional fee secures the current interest rate for a set period before settlement, protecting against rate increases.

National Australia Bank (NAB) offers home loans to a diverse range of borrowers, including Australian citizens, permanent residents, and eligible New Zealand citizens, with specific criteria to ensure responsible lending.

• Must be at least 18 years old.
• Must be an Australian citizen, permanent resident, or eligible New Zealand citizen. Restrictions apply if residential address is overseas.
• Applicants must meet NAB's lending criteria, which includes a demonstrated ability to repay the loan.
• A satisfactory credit history is required, as assessed by NAB.
• Must be a natural person, not a corporate entity.
• Eligibility may be restricted to Australian Defence Force members for certain products.

• Lenders Mortgage Insurance (LMI) may be required for loans with an LVR above 80%.
• Some products allow a 5% deposit if a guarantor is involved, enhancing accessibility for first-time buyers.
• Fixed rate loans have a cap on additional repayments, limited to $20,000 during the fixed term.