NAB

We all know National Australia Bank (NAB) as one of the big four Australian banks. However, what you may not realise is that NAB has only been known by its current name since 1981.

Prior to this, the bank traded as the National Bank of Australasia Limited, before merging with the Commercial Banking Company of Sydney Limited.

Following the merger, this top four bank changed its name to the National Australia Bank.

NAB operates internationally and provides a comprehensive range of banking and financial services throughout Australia, New Zealand Asia and the United Kingdom.

The organisation operates under five business segments: Business Banking (commercial banking services), Personal Banking (retail banking services), Wholesale Banking (global markets and treasury), NAB Wealth (investments, insurance and financial advice) and NZ Banking (UK banking services).

NAB is one of the more competitive banks in the sector, having expanded its ATM network, removed many fees and maintained low standard variable home loan rates.

Its range of financial products including home loans, credit cards, personal loans and savings accounts compare well with its peers. It also offers customers a range of tools and calculators to help manage their accounts.

NAB has over 30,000 employees, 9 million customers and can be found in over 900 locations around the globe serving over 12 million customers.

Like all banks, all deposits of up to $250,000 is protected as a part of the Australian Government guarantee.

NAB's SWIFT code: NATAAU3303M

NAB

We all know National Australia Bank (NAB) as one of the big four Australian banks. However, what you may not realise is that NAB has only been known by its current name since 1981.

Prior to this, the bank traded as the National Bank of Australasia Limited, before merging with the Commercial Banking Company of Sydney Limited.

Following the merger, this top four bank changed its name to the National Australia Bank.

NAB operates internationally and provides a comprehensive range of banking and financial services throughout Australia, New Zealand Asia and the United Kingdom.

The organisation operates under five business segments: Business Banking (commercial banking services), Personal Banking (retail banking services), Wholesale Banking (global markets and treasury), NAB Wealth (investments, insurance and financial advice) and NZ Banking (UK banking services).

NAB is one of the more competitive banks in the sector, having expanded its ATM network, removed many fees and maintained low standard variable home loan rates.

Its range of financial products including home loans, credit cards, personal loans and savings accounts compare well with its peers. It also offers customers a range of tools and calculators to help manage their accounts.

NAB has over 30,000 employees, 9 million customers and can be found in over 900 locations around the globe serving over 12 million customers.

Like all banks, all deposits of up to $250,000 is protected as a part of the Australian Government guarantee.

NAB's SWIFT code: NATAAU3303M

NAB Base Variable Rate Home Loan - Interest Only

Variable
Rate 4.02
Comparison
Rate 3.70

NAB Defence Force Home Loan

Variable
Rate
Comparison
Rate

NAB Defence Force Home Loan - Special Offer

Variable
Rate 2.59
Comparison
Rate 2.69

NAB Defence Force Variable Home Loan - Offset excluded

Variable
Rate 3.52
Comparison
Rate 3.62

NAB Defence Force Variable Home Loan - Offset included

Variable
Rate 3.72
Comparison
Rate 3.82

NAB Tailored Home Loan Variable Rate - Interest Only

Variable
Rate 5.09
Comparison
Rate 4.87

NAB Overdraft

1st year Fixed
Rate
Comparison
Rate.

NAB Personal Loan Unsecured Fixed - From 6.99% p.a

1st year Fixed
Rate 6.99
Comparison
Rate. 7.91

NAB Personal Loan Unsecured Fixed - From 6.99% p.a

1st year Fixed
Rate 6.99
Comparison
Rate. 7.91

NAB Low Fee Card

Purchase
Rate 19.74
Annual
Fee $30.00

NAB Low Fee Platinum

Purchase
Rate 19.74
Annual
Fee $90.00

NAB Low Rate Business Card

Purchase
Rate 13.25
Annual
Fee $60.00

NAB Qantas Business Signature Card

Purchase
Rate 18.50
Annual
Fee $295.00

NAB Rewards Business Signature Card

Purchase
Rate 18.50
Annual
Fee $175.00

NAB StraightUp Card

Purchase
Rate
Annual
Fee

NAB Cash Manager

Max Interest rate($10,000) Base Interest rate($10,000) 0.05

NAB Classic Banking, no monthly account fees, ever.

Max Interest rate($10,000) Base Interest rate($10,000) 0.01

NAB Retirement Account

Max Interest rate($10,000) Base Interest rate($10,000) 0.15

NAB Reward Saver

Max Interest rate($10,000) Base Interest rate($10,000) 0.01

Farm Management Deposit

90 Days

1 Yr Paid
Annually 0.40

Term Deposit

90 Days

0.07
1 Yr Paid
Annually 0.25

Term Deposit

90 Days

0.07
1 Yr Paid
Annually 0.25

Transaction Accounts

NAB has two transaction accounts: one for all customers and another specifically for retirees. With these accounts you can withdraw money from ATMs, make online payments and manage all your accounts via the NAB app.

NAB Classic Banking Account

The NAB Classic Banking Account has no account fees, no overdrawn fees and no withdrawal fees at over 7000 ATMs. This account comes with a choice of two cards: the NAB Visa Debit Card and the NAB Platinum VISA Debit Card. This account can be opened in under five minutes.

NAB Retirement Account

This account is perfect for retirees in that they can earn tiered interest to maximise the return on their transactional balance. Interest is calculated daily and paid quarterly. To be eligible to open this account, you must be over 55 and retired or receiving a government pension. There are no monthly account keeping fees and no minimum monthly deposits required. This account also features free ATM access across Australia at over 7,000 ATMs with use of a NAB Visa Debit card.

Savings Accounts

NAB offers two types of savings accounts.

NAB isaver

This is a high interest savings account with no monthly account fees and no minimum deposits required. You can perform unlimited transfers between your linked everyday banking accounts without affecting your interest rate. Receive a fixed bonus margin on your first isaver account for the first four months on balances up to $20 Million.

NAB Reward Saver

With the NAB Reward Saver account, your savings grow faster through bonus interest if you make regular deposits and no withdrawals. This account has no monthly account service fee and no minimum monthly deposit. If you do need to make withdrawals, you will still receive the base interest each month. Your interest is calculated daily and paid monthly.

NAB Credit Cards

NAB Straightup card

Customers can pay one monthly fee and no interest, late payment fees or international transaction fees. If your balance is $0 at the end of a statement period and you have made no purchases during that period, your monthly fee will be paid back to you. You can choose from a $1000 credit limit with $35 monthly repayment fee, a $2000 with $75 monthly repayment fee, and $3000 with $110 monthly repayment fee credit limits.

NAB Low Rate Card

This is a no frills card with a low interest rate. Pay 0% p.a on balance transfers for the first 20 months. There’s a 2% balance transfer fee. Minimum monthly repayments are required.
Minimum credit card limit is $1000 and there is an annual card fee of $59.

NAB Low Fee Platinum Card

This card offers platinum services as well as complimentary insurances. There is a $6000 minimum credit limit and a $90 annual card fee. Receive fraud and theft protection, global assistance for card related emergencies and add an additional cardholder free of charge.

The complimentary insurances include:

  • Overseas travel insurance
  • Transport Accident insurance
  • Interstate flight inconvenience insurance
  • Domestic hotel burglary insurance
  • Purchase protection insurance
  • Extended warranty insurance
  • Price protection insurance

NAB Low Fee Card

With a low standard annual card fee of $30 and a $1000 minimum credit card limit, this card is good if you are looking for a no frills card. Receive purchase protection insurance on personal items for loss, theft, or accidental damage, fraud and theft protection, global assistance for card emergencies and add an additional card holder for free.

NAB Reward cards

NAB has a number of rewards cards to choose from. Redeem these points for travel, gift cards, homewares and more.

NAB Rewards Signature Card

Earn the highest amount of NAB rewards points with this card. Also enjoy platinum services and complimentary insurances. You will need a $15,000 minimum credit limit and pay a $295 annual card fee. You can earn points on your everyday transactions and you can earn an unlimited amount of points each month and be able to redeem these in the NAB Rewards Store. Double points can be earned on purchases at major department stores. Triple points can be earned on overseas purchases. You can also redeem your point for travel with Webjet and many partner options. If you spend $3000 within the first 60 days of opening your account, you will receive 90,000 bonus points. Add another 30,000 bonus points if you keep your card for over 12 months.

NAB Rewards Platinum card

Enjoy platinum services and complimentary insurances and earn 60,000 bonus points with this card if you spend a minimum of $1000 on everyday purchases during the first 60 days of your account opening. This card has a $6000 minimum credit limit and a $195 annual card fee. You will need to make minimum monthly repayments. An unlimited amount of points can be earned each month on your everyday transactions. Redeem your points in the NAB Rewards Store or use them towards travel with Webjet and other partner options.

NAB Qantas Rewards Signature card

Earn NAB’s highest amount of QANTAS points and receive platinum services and complimentary insurances. This card has an annual card fee of $395 and a minimum $15,000 credit limit. You can earn 100,000 bonus points if you spend $3000 in the first 60 days on everyday purchases. You can earn an extra 30,000 bonus points if you keep your card for more than 12 months. Your first year’s annual card fee will be reduced to $295 then revert back to $395 for the following years.

See the NAB website for a list of complimentary insurances.

NAB personal loan

NAB offers an unsecured personal loan with your choice of fixed or variable rate.

You can choose a loan term from 1-7 years, with options for weekly, fortnightly or monthly repayments. You can borrow from $5,000 to $55,000 with existing clients having loan approval and funds available on the same day as application. There are no exit fees and if you choose to have a variable loan rate, you can redraw funds whenever you need.

NAB Home loans

Nab has a number of options for home loans so you are sure to find one that suits your circumstances.

Basic Variable Home loan

This home loan charges no monthly service fees and has a low rate. If you live in the property and will be making principal and interest repayments, you can borrow up to 95% of the property’s value. You can also make additional repayments without being penalised.
Choose from weekly, fortnightly or monthly repayments and use the NAB app to keep track of your home loan and any other NAB accounts.

Variable Rate With Offset Home Loan

The Variable Rate With Offset Home Loan includes an annual package fee of $395 and comes with a range of discounts and benefits including a money saving feature via an offset account. You can split your home loan into variable and fixed portions to take advantage of what each has to offer and you can make extra repayments without being penalised. You can also choose to make weekly, fortnightly or monthly repayments. Link your NAB credit card to your NAB Choice package and you won’t pay an annual fee on your credit card.

Fixed Rate Home loan

If you have an NAB Choice Package home loan and are making principal and interest repayments, you could be eligible for a three year fixed rate. Lock in the current low rate and have certainty that your repayments will remain the same during that fixed term.

You can also choose to make weekly, fortnightly or monthly repayments and make up to $20,000 in extra repayments within the fixed rate term without paying any additional fees. Customers can split their loan to have a portion fixed and the rest variable and can keep track of all of their NAB banking needs with the NAB app.