Westpac vs NAB home loans November 2026
Ratesniffers rates checked 9 November 2026. On the exact owner-occupier principal-and-interest row at 80% LVR, Westpac is sharper on comparison rate by 26 basis points: 6.74% p.a. (7.10% 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
Westpac vs NAB at a glance
| Feature | Westpac | NAB |
|---|---|---|
| Compared product | Rocket Home Loan Premier Advantage 70% - 80% LVR $150k+ P&I | Tailored Home Loan Standard Variable Owner Occupied 70% - 80% LVR P&I |
| Variable rate and comparison rate | 6.74% p.a. (7.10% comparison rate) | 7.24% p.a. (7.36% comparison rate) |
| 3-year fixed rate and comparison rate | 7.04% p.a. (7.19% comparison rate) | 6.92% p.a. (7.27% comparison rate) |
| Scope of the compared rate | Owner-occupier, principal and interest, 80% LVR | Owner-occupier, principal and interest, 80% LVR |
| Published LVR scope | Lends from a 5% deposit with insurance on principal and interest loans, up to 95% for eligible applicants | Unavailable |
| Offset | Available on at least one tracked product | Up to ten offset accounts on the variable rate with offset product, and none on a fixed rate loan |
| Redraw | Available on at least one tracked product | Available on at least one tracked product |
| Package fee | $395 a year for the Premier Advantage Package | $395 a year for the NAB Choice Package |
| First home buyer scheme | Listed as a participating lender, 5% Deposit Scheme | Listed as a participating lender, 5% Deposit Scheme |
| 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.
Westpac vs NAB variable home loan fees with offset
Westpac offers Rocket Repay with or without its Premier Advantage Package. NAB offers a Tailored Variable home loan with offset for a $12 monthly service fee. The $395 NAB Choice Package is closed to new customers. Existing package holders may retain benefits under their package terms.
| Variable loan with offset | Opening fees | Ongoing per year | 1 year | 3 years | 5 years |
|---|---|---|---|---|---|
| Westpac Rocket Repay with Premier Advantage Package | $100 | $395 | $495 | $1,285 | $2,075 |
| Westpac Rocket Repay without a package | $700 | $96 | $796 | $988 | $1,180 |
| NAB Tailored Variable with offset, without a package | $0 | $144 | $144 | $432 | $720 |
Westpac lists a $100 document processing fee for both Rocket options and a $600 establishment fee on the option without a package. Westpac waives the account fee on a Choice account linked as a Rocket offset. The totals assume the published fees stay constant and include one annual fee or 12 monthly fees per year. They exclude interest, any package rate discount, government charges, conditional charges and exit costs.
At three years, the Westpac package costs $297 more in the listed fees than Rocket without a package. The package quote can still cost less overall if its interest savings exceed that fee gap. Ask for each quote at the same loan amount, deposit, repayment term and expected offset balance before comparing the cost.
Check the Westpac package eligibility, the NAB offset product and the NAB Choice Package closure and existing-customer terms.
Is Westpac or NAB cheaper?
As at 9 November 2026, Westpac is the cheaper of these two products on comparison rate at 80% LVR for owner-occupier principal and interest: 6.74% p.a. (7.10% comparison rate) against 7.24% p.a. (7.36% comparison rate). On a $500,000 loan over 30 years the headline gap is about $168 a month before fees. Approved pricing still varies by file.
Westpac versus NAB on fees
Fees as at 3 September 2026. Westpac lists $395 a year for the Premier Advantage Package. NAB lists $395 a year for the NAB Choice Package. 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.
Westpac versus NAB for refinancing
Refinancing as at 3 September 2026. Westpac: the Premier Advantage Package waives Rocket Repay's $600 establishment fee and $8 monthly fee. NAB: a loan can be split between fixed and variable portions on one property. A refinance turns on the comparison rate, the exit and establishment costs on both sides and the LVR the new valuation lands you at.
Westpac versus NAB for first home buyers
First home buyers, as at 3 September 2026. On the Australian Government 5% Deposit Scheme participating lender list, Westpac is listed and NAB is listed. 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. Westpac: investors can take interest-only repayments for up to 15 years, capped at 80% of property value. 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 Westpac
Westpac tends to suit borrowers who want big-four scale and product breadth with an extended commitment to regional branch access, and those who might find a sharper deal from one of its other group brands (St.George, Bank of Melbourne or BankSA) depending on where they live. The comparison table above is the price check, and this section is the fit check.
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.
Head-to-heads that share a lender with this one: CommBank vs Westpac, ANZ vs NAB, CommBank vs NAB. Full product detail sits on the Westpac and NAB lender pages, with the candid write-ups on the Westpac review and the NAB 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.