Variable
Neat Home Loan
- No ongoing annual fees
- Extra repayments and redraw at no extra cost
- Variable rate only; no offset accounts
Eligibility
- Loans of $80,000 to $5 million
- Not available to self-employed applicants
Major-bank brand
UBank
Digital bank that is part of NAB and operates under NAB’s banking licence, with Neat and Flex home loans applied for online. NAB says Ubank grew to over one million customers after NAB acquired 86 400 and moved Ubank to a new technology platform.
Part of NAB MelbourneFounded 2008Australian Credit Licence 230686
UBank at a glance
UBank is a banking brand that is part of NAB. It offers home loans.
- Lender type
- Major-bank brand
- Bank or non-bank
- Authorised deposit-taking institution (National Australia Bank Limited)
- Part of
- NAB
- Credit licence
- ACL 230686, National Australia Bank Limited
- Lends
- Home loans
- Headquarters
- Melbourne
Strengths
- No lenders mortgage insurance on any Ubank home loan
- Neat home loan with no ongoing annual fees
- Flex home loan with multiple linked offset accounts
- Part of NAB, operating under the same banking licence
Watch out for
- Not available to self-employed applicants
- Flex loans carry a $250 annual fee
- No branches: online and phone only
UBank loans and products
What UBank offers in each category, with the features, eligibility and trade-offs we note. For the current rate on each product, follow the link to UBank’s own rate card.
UBank home loans
Compare home loans lendersVariable
Flex Home Loan (variable)
- Multiple linked offset accounts, up to 100% interest offset
- $250 annual fee
- Option to split part of the loan as a fixed rate
Eligibility
- Loans of $80,000 to $5 million
- Not available to self-employed applicants
Fixed 2yr
Flex Home Loan (fixed)
- Fixed for 1, 2, 3 or 5 years
- Extra repayments and redraw up to $20,000 in the fixed term
- $250 annual fee
- No offset accounts on fixed loans
Eligibility
- Loans of $80,000 to $5 million
- Not available to self-employed applicants
Alternatives to UBank
Other lenders in our directory that offer home loans, starting with other major-bank brand lenders.
- Bank of MelbourneMajor-bank brand. Home loans
- BankSAMajor-bank brand. Home loans, Car loans, Business loans, Equipment finance, Personal loans
- BankwestMajor-bank brand. Home loans
- St.George BankMajor-bank brand. Home loans
- Suncorp BankMajor-bank brand. Home loans, Business loans, Equipment finance
- UnloanMajor-bank brand. Home loans
More on UBank
- UBank home loans in detail
Neat variable, Reach variable with offset, fixed 1 to 5 years. A NAB-owned digital lender with consistently sharp pricing. Where UBank wins files.
UBank: frequently asked questions
Is UBank a bank?
Yes. UBank’s loans are provided by National Australia Bank Limited, which is on APRA’s register of authorised deposit-taking institutions (ADIs), the list of banks, building societies and credit unions licensed under the Banking Act 1959.
Who owns UBank?
UBank is part of the NAB Group: NAB lists it alongside NAB and Bank of New Zealand as one of the group’s banking businesses. Its loans are provided under Australian Credit Licence 230686, held by National Australia Bank Limited.
What is UBank’s credit licence number?
National Australia Bank Limited holds Australian Credit Licence 230686, the licence UBank operates under. You can check a licence on ASIC’s Professional Registers before you apply.