NAB halves average time to home loan approval



Customers eligible for NAB’s simple home loan process are being unconditionally approved in less than two days on average through NAB’s retail network, NAB’s latest results show.

Customers applying for a NAB home loan through a broker are now getting the green light in half the time they were just six months ago with quicker, more consistent outcomes because of simpler policies and processes.

Picture of a woman in a red top smiling.
NAB customer Peta Lawrence had a simple and digital experience applying for a home loan.

About 35% of eligible NAB customers are also unconditionally approved in less than an hour.

The reduced times as part of the bank’s Simple Home Loans process were detailed in NAB’s Half Year Results released on 5 May.

NAB Group Executive Personal Banking Rachel Slade said building Australia’s simplest home loan was part of serving customers well.

“Customers are telling us receiving a fast decision is critical. It provides certainty and confidence to help them get into a property,” Ms Slade said.

NAB customer Peta Lawrence said the pre-approval process was easy.

“I saw the property on the Saturday morning, spoke to NAB at lunchtime and was pre-approved by late afternoon,” Ms Lawrence said.

“I was not expecting it to happen that quickly. I did a little victory dance when I found out.

“I put in an offer Monday morning and it was accepted by Monday night. I’m moving in this week,” she said.

Ms Lawrence said the process for getting pre-approval to buy the unit in Sydney’s inner south in March was different to when she first bought a home.

“When I first got a home loan 20 years ago you went into the bank and sat with the bank manager.  This time it was a Zoom appointment. Everything was on the screen and very visible and straight forward,” she said.

Ms Slade said customers were increasingly choosing to bank digitally.

“We are going to keep rolling out Simple Home Loans over the next two years so more and more customers can have this simple and digital experience,” she said.

“We also have a range of budgeting and planning tools, including a loan repayment calculator, that can help customers wanting more control of their money so they’re in a strong position when they apply for a home loan.”



Customers, banking & finance


Media Enquiries

For all media enquiries, please contact the NAB Media Line on 03 7035 5015

Related Articles

  • Business

Businesses amp up green investments with electric vehicles and solar panels topping the shopping list

New data from Australia’s largest business bank shows many small and medium sized businesses are continuing to invest in new or used energy efficient equipment, with the value of the bank’s Green Finance for Vehicles & Equipment loan book growing 80% compared to the same period last year.

  • 13.06.2024
  • Time to read 2 min read
  • Scams

Aussies travelling abroad warned about international summer of scams

Australians heading overseas to chase a European or North American summer are being urged to get scam savvy to avoid a holiday from hell. Criminals are expected to target major sporting events and big international concerts, just as hundreds of thousands of Australians and their families prepare to jet off overseas.

  • 06.06.2024
  • Time to read 3 min read
  • Media Release

Families now the top users of no interest loans

More than 42,000 no interest loans have been issued in the past year by Good Shepherd and NAB, up 19% on the previous year, as Australians face cost of living pressures.

  • 31.05.2024
  • Time to read 3 min read

Quick links

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights .

NAB Security Podcast

For more insights about cyber security and fraud, and practical tips on how to stay safe, listen in to NAB’s Security Podcast series.

NAB tech blog

For more insights about technology and the digital developments enabling change for customers, visit the NAB tech blog on Medium.