NAB Unsecured Variable Rate Personal Loan

Rates and Fees verified correct on May 25th, 2016

Make extra repayments when you like and enjoy a competitive variable rate with the NAB Unsecured Variable Personal Loan.

Whether you're looking to consolidate your debts, make a large purchase or even renovate your home, NAB's Unsecured Variable Personal Loan could be an option to consider. You don't have to offer any guarantee with the loan and you have up to 7 year(s) to repay what you borrow. A competitive variable rate can help keep your repayments manageable. Read the review below to find out if this loan is right for you.

Things to consider about a NAB Unsecured Variable Personal Loan

Product NameNAB Personal Loan Unsecured Variable Rate
Interest Rate (p.a.)From 13.69% (variable)
Comparison Rate (p.a.)14.56%
Interest Rate TypeVariable
Minimum Loan Term1 year
Maximum Loan Term7 years
Min Loan Amount$5,000
Max. Loan Amount$55,000
Application Fee$150
Monthly Service Fee$10
  • Online application through NAB Internet Banking
  • Flexible repayments for this loan
  • No extra payment for your early repayments
  • Minimum loan amount of $5000
  • Application fee of $150
  • Monthly fee of $10

With a variable interest rate of 13.69% p.a. and a comparison rate of 14.56% p.a., the Unsecured Variable Personal Loan offers the flexibility to redraw funds if you need. The loan is unsecured, which means you don’t need to offer an asset as security.

Features of the NAB Unsecured Variable Personal Loan

  • Variable interest rate. A variable rate lets you take advantage of favourable market conditions. The variable rate for a NAB Personal Loan is 13.69% p.a. (comparison rate 14.56% p.a.).
  • Flexible repayments. You have the ability to make extra repayments when you can, or to completely pay off your loan early without incurring extra charges. You can also choose to make weekly, fortnightly or monthly repayments.
  • Choose your loan term. Depending on what you need, you can choose your own loan term from 1 year(s) to 7 year(s).
  • $10 monthly fee. The NAB Unsecured Variable Personal Loan has a $10 monthly fee on top of your repayments.

How you can apply for the NAB Unsecured Variable Personal Loan

You can start your application by clicking "Go to Site". Before you start, make sure you meet the eligibility criteria below. You must:

  • Be at least 18 years of age
  • Earn a regular income
  • Be a permanent resident of Australia

When you apply for the loan, you will be asked to provide documents to NAB. You’ll need to provide the following:

  • Information regarding your employment and income. This includes recent payslips and/or bank statements, or the last two years of tax assessments if you're self-employed.
  • Details about your assets and debts. You have to supply information about any outstanding debts and loans you have, such as credit card debts, mortgages or personal loans. Information about assets such as vehicles, property or personal savings is also required.

The flexibility of the NAB Unsecured Variable Personal Loan makes it a viable option in the personal loan market, but make sure to shop around. Compare rates, fees and features to find the right personal loan for your needs.

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This page was last modified on 21 March 2016 at 17:05.

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20 Responses to NAB Unsecured Variable Rate Personal Loan

  1. Default Gravatar
    Meeee | April 24, 2016

    Will I get the whole arm,punt. I ask for. being $& 10000

    • Staff
      Elizabeth | April 26, 2016


      NAB will approve you for a loan amount that it determines you will be able to afford, so if you apply for $10,000 and NAB believes you won’t be able to afford the repayments then you won’t be approved for the loan.

      Hope this has helped,


  2. Default Gravatar
    peter | March 17, 2016

    what would be fortnightly repayments on $20k variable pers loan to pay back over 7 years and then same over 5 years please

    • Default Gravatar
      | March 24, 2016

      Can I apply loan

    • Staff
      Elizabeth | March 30, 2016

      Hi Muhammad,

      If you’d like to apply for a loan you can click “Go to Site” to submit your application. Make sure you check the eligibility to ensure the loan is suitable before you apply.

      Hope this has helped,


    • Staff
      Elizabeth | March 21, 2016

      Hi Peter,

      You can work out your repayments on any loan term using our personal loan repayment calculator.

      I hope this will help.



  3. Default Gravatar
    Melissa | February 26, 2016

    Hi would like to know my son would like a personal loan for $12000.He is a 2nd year apprentice. Thanks

    • Staff
      Elizabeth | February 26, 2016

      Hi Melissa,

      The minimum criteria for the NAB personal loan is:
      - 18 years old
      - must earn a regular income
      - must be a permanent resident of Australia

      If your son meets this criteria he is able to apply. He can click “Go to Site” to get the application started.

      I hope this has helped,


  4. Default Gravatar
    Liah | January 27, 2016

    Hi I was just wandering if I could borrow up $15000 from NAB bank Even if I’m not a customer but I can switch over my bank to them I just need to borrow some cash to go to my dads funeral in the island please I need to hear from you


    • Staff
      Elizabeth | January 27, 2016

      Hi Liah,

      You don’t need to be a current NAB customer to be approved for a personal loan from them. If you’d like to apply for this loan please review the eligibility criteria (outlined above) to ensure you’re eligible, and then you can click “Go to Site” to submit your application.

      I hope this has helped.



  5. Default Gravatar
    ERROL | January 16, 2016

    hi i am a senior disability pensioner i want to borrow about $4000 for a second hand utility as it is going to cost more than that for repairs to my current vehicle i have a Veda score of 882 out of 1200 and an Experian score of 805 out of 1000 i am having trouble of getting a loan from lenders like society one where both credit reporting agencies recommend me to apply i think the fact that i am a pensioner may prove fatal to lenders,i get the centrelink loan of $1000 mainly used to keep my present vehicle on the road,these loans have to be paid back within a 6 months time limit so i repay approx $93 per fortnight so i do not have any problems with paying that amount each fortnight,what are your thoughts on this matter and is it really worth while applying for a loan any information as to where I have also done a credit check with Dun and Bradstreet and also have no credit records complaints or information on me,thank you

    • Staff
      Elizabeth | January 18, 2016

      Hi Errol,

      When lenders consider you for a loan they take your entire financial circumstances into account to determine your ability to afford the repayments, not just your credit score. So, your income will be considered along with your current loan repayments. If you aren’t in need of the loan right away you may want to consider waiting until your current loan is repaid to apply for another to give yourself a better chance of approval. I can’t recommend any lenders to you, but if you are after some personal advice you can give the free financial counselling service a call on 1800 007 007.

      I hope this has helped.



  6. Default Gravatar
    | January 2, 2016

    Can we get a housing loan ? We are just retired, we can repay up to $560.00 per fortnight, we have bought the land cash, and we have approx $1400 p/f pension and no credit cards to pay off. We would like to borrow $100,000. Thanks Edwin

    • Staff
      Belinda | January 6, 2016

      Hi Edwin,

      Thanks for reaching out.

      There are a number of home loan and finance options for retirees and pensioners, however your ability to qualify for a home loan and your borrowing capacity will depend on the lender’s individual criteria. The lender will review your income sources, equity that you may have in existing properties, assets and credit history to determine whether or not you will be able to repay the loan.

      You might be interested to learn more about home loans for pensioners on this page, and you can also compare reverse mortgage options here.


  7. Default Gravatar
    Zenon | November 10, 2015

    I am on Disability Support Pension. $715 per fortnight. Need about $4000 with fortnightly repayments over 12 to 24 months. Which company is best to apply?

    • Staff
      Elizabeth | November 10, 2015

      Hi Zenon,

      I’m unable to recommend a specific lender to you, but you can find a list of lenders who may consider you for a loan, as well as the eligibility criteria that apply, on this page.

      I hope this has helped.



  8. Default Gravatar
    Query1 | November 4, 2015

    I am an international post graduate student (joined in July 2015). My husband is on dependent visa and working since September 2015. We r looking for a car loan (secured/unsecured). Not sure whether we will b eligible for it or not as my husband has not completed 3 months of service. Is there any option?

    • Staff
      Elizabeth | November 5, 2015


      Thanks for your question.

      To be eligible for this loan you need to be a permanent resident of Australia. You can compare personal loans for temporary residents, and review the eligibility criteria on this page.

      I hope this will help.



  9. Default Gravatar
    | July 27, 2014

    I need to give my lawyer some cash towards my expenses whilst my property settlement is negotiated. I want a loan that I can draw on now,with low monthly repayments and it would be repaid in full once I receive the funds form my settlement, which I would think would be less than 1 year. He wants $5000 now but I may need more if the matter goes to court. Please advise suitable options

    • Staff
      Shirley | July 28, 2014

      Hi Tamara,

      Thanks for your question

      Most personal loans have a minimum loan term of one year. You may want to consider a personal overdraft, where you only pay interest on the funds you borrow.


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