NAB Base Variable Rate Home Loan Review (2026)
Rates and details verified 18 May 2026
Rates can change without notice. Last verified: 18 May 2026 (AEST). Please confirm details on the bank’s official page.
OO P&I rate
6.44%
p.a. variable (comp. 6.44%)
Investment P&I
6.96%
p.a. variable (comp. 6.96%)
Tailored from
6.09%
p.a. OO P&I (≤60% LVR)
About the NAB Base Variable Rate
NAB (National Australia Bank) is one of Australia's big four banks, offering a full range of financial services with branches and ATMs nationwide. Their Base Variable Rate Home Loan is an entry-level product with no LVR-tiered pricing at this level.
At 6.44% p.a. OO P&I, the NAB Base Variable is higher than most lenders in this comparison. However, NAB also offers a Tailored Home Loan with rates from 6.09% p.a. at ≤60% LVR — though Tailored rates are individually negotiated based on your loan size, LVR, and relationship with NAB. The Base Variable is the published standard rate.
Key Rates and Features
| Rate / Feature | Detail |
|---|---|
| OO P&I (Base Variable) | 6.44% p.a. (comp. 6.44%) |
| Investment P&I (Base Variable) | 6.96% p.a. (comp. 6.96%) |
| Tailored OO P&I (≤60% LVR) | From 6.09% p.a. |
| Interest-only (IO) | Available — contact NAB |
| Lender type | Big-four Australian bank |
| Application | Online, branch, or phone |
Rates as at 18 May 2026. Check NAB's website for the latest.
Pros and Cons
Pros
- ✓ Big-four bank — full branch network, trusted brand
- ✓ Tailored rates may be lower if you negotiate (from 6.09%)
- ✓ Full suite of banking products alongside your home loan
- ✓ Strong digital banking (NAB app)
Cons
- ✗ 6.44% Base Variable — highest on this page
- ✗ Investment rate at 6.96% p.a. is significantly above competitors
- ✗ Tailored rates require negotiation and vary by circumstances
Why Include NAB if the Rate Is Higher?
Many Australians have their banking with NAB and want to understand what their bank offers before shopping elsewhere. The Base Variable at 6.44% is also NAB's published starting point — Tailored rates, which start from 6.09% OO P&I at ≤60% LVR, can be negotiated and may bring the rate closer to competitors.
For borrowers who value branch access, an existing NAB relationship, or a bundled product suite, comparing NAB alongside online-only lenders gives a complete picture.
How It Compares
- Macquarie Basic: 5.84% OO P&I (≤70% LVR)
- ING Mortgage Simplifier: 6.14% OO P&I (≤80% LVR)
- NAB Base Variable: 6.44% OO P&I (standard) / 6.09% Tailored
FAQs
What is the NAB Base Variable rate?
6.44% p.a. OO P&I (comp. 6.44%). Investment P&I is 6.96% p.a. (comp. 6.96%).
Can I get a lower rate with NAB?
Yes — the Tailored Home Loan starts from 6.09% p.a. OO P&I at ≤60% LVR, but the rate depends on your circumstances. Ask NAB about the Tailored product.
Why are NAB's rates higher than smaller lenders?
Smaller online lenders and non-banks operate with lower overheads. NAB's rates reflect the cost of maintaining a full branch network, broader services, and higher regulatory capital requirements as a major bank.
Comparison rate based on a $150,000 loan over 25 years. Information verified 18 May 2026. Confirm rates, fees, and eligibility on NAB's website before applying. This is not financial advice.