NAB — two product families, one bank. The Choice vs Tailored fork on every file.
NAB is structurally two lenders inside one bank. Choice (broker-channel, alt-doc-friendly, self-employed-comfortable) behaves like a flexible non-bank. Tailored (priority PAYG, fastest Big 4 turnaround, sharper rates) behaves like a clean-file Big 4. Same NAB credit appetite at the macro level; distinctly different policy manuals, rate cards, and processing teams. Every NAB submission picks a fork.
The shared NAB context — what both forks inherit
Both Choice and Tailored sit on NAB's balance sheet and share the bank's APRA 3% assessment buffer, the same DTI cap (7.0× household income), the same APRA reporting obligations, and the same Financial Claims Scheme deposit protection. Both quote NAB-branded loans to the borrower.
What changes between the forks is the policy manual the underwriter reads, the rate card the broker quotes from, and the processing team that handles the file. The structural effect: a self-employed borrower at Choice and a PAYG borrower at Tailored have meaningfully different experiences submitting to "the same bank".
Fork A · the flexible path
NAB Choice
Broker-channel-led product family. The alt-doc / self-employed / complex-income fork. Closer to a non-bank in flexibility, written off NAB's balance sheet.
- Headline product
- Choice Package Variable
- Cheapest variable (OO P&I <60% LVR)
- 5.99%
- Doc requirements
- 1-yr full doc or BAS alt-doc
- SE min trading history
- 6 months ABN (alt-doc)
- Max OO LVR
- 90% (LMI)
- Max investor LVR
- 90% (LMI)
- Broker turnaround
- ~9 days
- Add-backs accepted
- Mirrors non-bank treatment
Choice's structural value: NAB underwriters in the Choice queue have BDM autonomy on add-back interpretation that's broader than Tailored. A self-employed file with one strong year plus a softer prior year, or a contractor with multi-source income, gets a fairer assessment at Choice than at any non-Choice Big 4 product.
Fork B · the priority path
NAB Tailored
Priority PAYG / clean-file product family. Sharper rate, fastest Big 4 turnaround. The default path for vanilla salaried borrowers.
- Headline product
- Tailored Home Loan Package
- Cheapest variable (OO P&I <60% LVR)
- 5.97%
- Doc requirements
- Standard 2-yr PAYG full-doc
- SE min trading history
- 2 years (full doc, audited)
- Max OO LVR
- 95% (LMI)
- Max investor LVR
- 90% (LMI)
- Broker turnaround
- ~7 days (fastest Big 4)
- Add-backs accepted
- Conservative — standard PAYG focus
Tailored's structural value: the fastest broker-channel turnaround of the Big 4. A clean PAYG file in by Monday morning routinely lands unconditional by Wednesday morning. For purchase files with auction-date pressure, Tailored is the structural Big 4 default.
Which fork does your file take?
Choice fits when
Self-employed (any structure)
Sole trader, company director, trust, multi-entity. Choice's add-back acceptance + 1-yr tax return doc rules + 6-month ABN minimum on alt-doc make it the only Big 4 broker product handling complex SE files at competitive turnaround.
Choice fits when
Variable / contract / multi-source income
Bonus-heavy executive, commission-only sales, multi-job contractor, ABN consultant with PAYG side gig. Choice underwriters interpret variable-income shading less conservatively than Tailored's clean-PAYG queue.
Tailored fits when
Clean PAYG, time-pressured
Salaried PAYG with standard 2-yr employment history, vanilla deduction file, time-critical (auction date / settlement date pressure). Tailored's 7-day turnaround is structurally fastest Big 4 — Choice is 2 days slower.
Tailored fits when
95% LVR FHB
First-home buyer at 95% LVR with full-doc PAYG income. Tailored writes to 95% LVR (Choice caps at 90%). For deposit-constrained FHB files the LVR ceiling is the binding factor.
See where NAB Choice and Tailored each land on your file.
The borrowing-capacity calculator quotes both NAB forks separately — they appear as distinct panel entries, with their own assessment chain and rate card.
Run the calculator