We report on structural, chemical and low-temperature magnetic properties of lead-free 0.6NiFe2O4-0.4Na0.5Bi0.5TiO3 composite. NiFe2O4 (NFO) and Na0.5Bi0.5TiO3 (NBTO) are seen to crystallize in inverse spinel and perovskite structure, respectively. 0.6NiFe2 O4-0.4Na0.5Bi0.5TiO3 composite exhibits both NFO and NBTO phases in appropriate composition. Zero field-cooled (ZFC) and field-cooled (FC) magnetization measurements carried out from 15 to 300 K shows a large bifurcation at room temperature. ZFC and FC magnetization measurement exhibit a hump at Tm \(\sim\)259.5 K, indicates the possible existence of competing magnetic interactions in 0.6NiFe2 O4-0.4Na0.5Bi0.5TiO3 composite. Saturation magnetization, remnant magnetization and coercivity values are observed to increase with decreasing the temperature. Temperature-dependent saturation magnetization is fit to the Bloch’s law. Magnetocrystalline anisotropy (K1) value at various temperatures are estimated and is seen to increase from 0.23 × 104 erg/cc (at 300 K) to 0.34 × 104 erg/cc (at 15 K).