NAB home loan rates and products in 2026

NAB's position among the majors

NAB sits in the middle of the Big 4 by mortgage book size and has been progressively rebuilding its retail home loan share after the regulatory and remediation distractions of the late 2010s. Broker-channel volumes are now over 70 per cent of new originations at NAB, in line with industry averages.

For most borrowers comparing the Big 4, NAB will be one of the four quoted candidates. The package discount under Choice Package is the lever that closes the gap to the sharpest non-bank rates for larger loans.

Tailored Home Loan, Base Variable and Choice Package

NAB's product taxonomy splits into three principal variable options. Tailored Home Loan is the standard variable with offset available; Base Variable Rate is a stripped-back lower-headline variable without offset; Choice Package is the bundled package that adds the offset, credit card and a discounted rate, in exchange for an annual fee.

For most owner-occupier files, the relevant comparison is Choice Package versus Base Variable. The package fee versus offset interest saving maths is the standard test: at a meaningful offset balance, Choice Package wins.

Fixed rates, investor and construction

NAB offers fixed terms from 1 to 5 years across owner-occupier and investor categories. Fixed rate products do not include offset. Investor lending sits at the standard 25 to 40 basis-point premium over owner-occupier P&I.

For construction loans, NAB pays interest-only during build at the progress payment schedule (slab, frame, lock-up, fixing, completion), converting to P&I on handover. The completion rate that applies post-handover is the figure to lock down before signing the build contract.

SME and small business lending crossover

NAB has historically been Australia's largest business bank by SME market share, which sometimes affects home loan applications for self-employed borrowers. NAB's ability to assess complex business income (multiple entities, recent restructure, K&K-style income smoothing) is generally stronger than the digital majors. For PAYG borrowers, this is not differentiating; for genuinely self-employed files, it can be.

What is the current NAB home loan rate?

NAB publishes current variable and fixed home loan rates on its interest rates page. For a specific borrower, the rate that applies after package discount depends on loan size, LVR, and product tier. A broker on the NAB panel can quote the discount tier that applies to your file.

Is NAB good for self-employed home loan applicants?

NAB has historically been one of the stronger major banks for self-employed home loan applicants, partly because of its larger SME relationship base. The credit team is more familiar with complex business income structures than the digital majors. For a genuinely self-employed file, NAB and Macquarie are commonly the two lenders a broker compares against the non-bank specialists.

Does NAB offer offset accounts?

Yes. The NAB Tailored Home Loan with offset and the Choice Package both include offset functionality. Base Variable Rate does not include offset. Fixed rate products do not include offset; if you want offset on part of your loan, you would split into variable plus fixed.

Can I refinance to NAB?

Yes. NAB accepts external refinance applications. The credit assessment treats it as a fresh application, with the APRA 3 per cent buffer applied in full unless the file qualifies for the like-for-like streamlined refinance carve-out under APG 223.

How long does NAB take to approve a home loan?

For a clean, complete application, NAB typically returns conditional approval within 5 to 15 business days in mid-2026. Self-employed and complex-income files take longer due to additional verification. Formal approval and settlement timing depend on valuation and conveyancing.