NAB vs Ubank home loans November 2026
Ratesniffers rates checked 9 November 2026. On the exact owner-occupier principal-and-interest row at 80% LVR, Ubank is sharper on comparison rate by 49 basis points: 6.64% p.a. (6.87% comparison rate) against 7.24% p.a. (7.36% comparison rate) for NAB. Interest rate and comparison rate come from the same product row.
Rates checked 9 November 2026 · checked daily against each lender's current published pricing · machine-readable at /rates.json
NAB vs Ubank for a first-home deposit
NAB is listed for the Australian Government 5% Deposit Scheme. Ubank is not listed under its own brand and publishes a separate no-LMI option up to 90% loan-to-value ratio. With a 5% deposit, check the scheme through a participating lender. With 10% or 15%, compare written home loan quotes at the same loan amount and lender valuation.
- NAB and the 5% Deposit Scheme
- Eligible first-home buyers can apply through NAB without lenders mortgage insurance (LMI). The scheme has no income caps. The location cap applies to both the price and the lender's valuation. NAB still assesses affordability and the property. NAB scheme details · Housing Australia lender list · Check the postcode cap
- Ubank and the 10% deposit purchase option
- Ubank publishes a no-LMI option for eligible loans up to 90% LVR. Ubank is part of National Australia Bank Limited. Its separate offer has its own lending conditions. Check the product and its fees with Ubank. Ubank's published option
- Already a NAB customer?
- Having a NAB account does not guarantee a better rate or approval. Compare written quotes at the same loan amount, loan-to-value ratio, term and repayment type. Include the cash needed at settlement, any lenders mortgage insurance and any fees for offset or packaged features.
What if the lender values the home below the price?
For a $700,000 purchase valued by the lender at $670,000, suppose you have $85,000 and set aside $15,000 for purchase costs. That leaves $70,000 towards the price and a $630,000 loan at about 94.03% LVR. The same purchase would require $112,000 total cash at 90% LVR, or $78,500 at 95% LVR, including the same cost reserve. Check the official valuation rules with the lender.
Compare cash at your own valuation
Enter whole Australian dollars. Set aside duty, legal fees and other cash costs before working out how much you can put towards the price.
- Loan before any financed fees: $630,000 at about 94.03% LVR
- 90% LVR example: $112,000 total cash, $27,000 extra cash needed
- 95% LVR example: $78,500 total cash, $0 extra cash needed
These examples compare the amount to fund at two LVRs. They exclude financed fees and do not assess scheme eligibility, borrowing power or approval.
Sources checked 11 November 2026. For other lenders, see the first-home buyer rate comparison.
NAB vs Ubank at a glance
| Feature | NAB | Ubank |
|---|---|---|
| Compared product | Tailored Home Loan Standard Variable Owner Occupied 70% - 80% LVR P&I | Flex Home Loan Owner Occupied 70% - 80% LVR P&I |
| Variable rate and comparison rate | 7.24% p.a. (7.36% comparison rate) | 6.64% p.a. (6.87% comparison rate) |
| 3-year fixed rate and comparison rate | 6.92% p.a. (7.27% comparison rate) | 7.24% p.a. (7.25% comparison rate) |
| Scope of the compared rate | Owner-occupier, principal and interest, 80% LVR | Owner-occupier, principal and interest, 80% LVR |
| Published LVR scope | Unavailable | The no-insurance position covers principal and interest lending from a 10% deposit on a purchase |
| Offset | Up to ten offset accounts on the variable rate with offset product, and none on a fixed rate loan | Flex offsets 100% across multiple Spend, Bills and Save accounts rather than one linked account |
| Redraw | Available on at least one tracked product | Additional payments and redraw are free across the published range |
| Package fee | $395 a year for the NAB Choice Package | No fee on Neat Variable, $250 a year on Flex Variable |
| First home buyer scheme | Listed as a participating lender, 5% Deposit Scheme | Not on the participating lender list when checked |
| Products tracked | 80 | 80 |
| Approved cashback register | Unavailable | Unavailable |
Promoted rate comparisons require exact owner-occupier principal-and-interest rows at 80% LVR from the snapshot dated 9 November 2026, on both sides. “Unavailable” means a two-sided comparison cannot be substantiated, not that a lender has no product or no such feature.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Have two written offers? Enter the interest rate and fees from each quote below to compare their estimated costs. The calculator starts blank and does not use the snapshot rates or establish which lender will approve you.
Compare the cost of two home loan offers
Enter your own rates and fees to compare two principal-and-interest loans over the same period. This illustration is not a lender quote or approval.
Model limits: This uses constant annual interest rates and monthly amortisation; it does not model a fixed-rate expiry or an interest-rate reset. Fees are paid separately. Ongoing fees are assumed unchanged and charged monthly. Include any annual package fee as a monthly equivalent; this does not model its actual annual due date. Fees not entered, including package, exit and break fees, are excluded. The model also excludes offsets, redraw, extra repayments, rate changes, fee changes, refunds, cashback and taxes. Lenders may calculate interest daily and charge fees differently. Compare actual lender quotes and eligibility. This is not the statutory comparison rate, which uses a standard $150,000 loan over 25 years.
Is NAB or Ubank cheaper?
As at 9 November 2026, Ubank is the cheaper of these two products on comparison rate at 80% LVR for owner-occupier principal and interest: 6.64% p.a. (6.87% comparison rate) against 7.24% p.a. (7.36% comparison rate). On a $500,000 loan over 30 years the headline gap is about $201 a month before fees. Approved pricing still varies by file.
NAB versus Ubank on fees
Fees as at 3 September 2026. NAB lists $395 a year for the NAB Choice Package. Ubank lists no fee on Neat Variable, $250 a year on Flex Variable. The comparison rate folds ongoing fees into the figure, so a sharper headline rate paired with a higher annual fee can finish behind a plainer loan.
NAB versus Ubank for refinancing
Refinancing as at 3 September 2026. NAB: a loan can be split between fixed and variable portions on one property. Ubank: 15% equity avoids lenders mortgage insurance on an owner-occupied refinance. A refinance turns on the comparison rate, the exit and establishment costs on both sides and the LVR the new valuation lands you at.
NAB versus Ubank for first home buyers
First home buyers, as at 3 September 2026. On the Australian Government 5% Deposit Scheme participating lender list, NAB is listed and Ubank was not listed when checked. Eligibility rules and property price caps apply either way, and a lender that is not listed can still lend at a low deposit with lenders mortgage insurance payable.
Which suits an investor?
For an investor, as at 3 September 2026. Ubank: 20% equity avoids lenders mortgage insurance on an investment refinance. No verified investor record is published for NAB yet, so only one side is described here. Investor pricing, interest-only terms and LVR ceilings sit apart from the owner-occupier row this page compares.
Who should choose NAB
NAB tends to suit borrowers who want big-four scale backed by a strong regional and rural branch commitment, offset users, since its variable loan with offset carries up to ten offset accounts, and borrowers who want to split fixed and variable in one loan. The comparison table above is the price check, and this section is the fit check.
Who should choose Ubank
Ubank tends to suit borrowers comfortable managing everything through an app with no branch network, particularly younger buyers stretching for a smaller deposit who want to avoid lenders mortgage insurance. The comparison table above is the price check, and this section is the fit check. Features, service model and eligibility all move the outcome on a real file.
Head-to-heads that share a lender with this one: ANZ vs NAB, CommBank vs NAB, Westpac vs NAB. Full product detail sits on the NAB and Ubank lender pages, with the candid write-ups on the NAB review and the Ubank review.
Not sure which one fits your scenario?
Advertised rates aren’t always the rate a lender approves. Get the sharper of the two negotiated against your specific numbers, at no cost.