NAB Unsecured Personal Loan

This personal loan comes with fixed interest rates starting from 6.99% p.a. An application fee of $150 and a monthly $10 fee also applies.

NAB’s unsecured personal loan allows you to borrow between $5,000 and $55,000. The interest rate is fixed and begins from 6.99% p.a., with a comparison rate of 7.91% p.a. Payment cycles are flexible, allowing you to make payments when you receive your pay. This can be on a weekly, fortnightly, or monthly basis. You can also select your loan term, starting from 1 year up to 7 years. This loan charges an application fee of $150, and a recurring monthly fee of $10.

Matt Corke

Last Updated Feb 22, 2021

From 6.99% (fixed)

Interest Rate (p.a.)

7.91%

Comparison Rate (p.a.)

$5,000

Min Loan Amount

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Product Name	NAB Personal Loan Unsecured Fixed
Interest Rate (p.a.)	From 6.99% (fixed)
Comparison Rate (p.a.)	7.91%
Interest Rate Type	Fixed
Min Loan Amount	$5,000
Max. Loan Amount	$55,000
Loan Security	Unsecured

Matt Corke

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Matt Corke is Finder’s head of publishing ventures. Prior to this he was head of publishing for Australia, New Zealand and emerging markets. Matt built his first website in 1999 and has been building computers since he was in his early teens. In that time, he has survived the dot-com crash and countless Google algorithm updates.

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Main points to consider with the NAB Unsecured Personal Loan

You can use this unsecured loan for any worthwhile purpose or expense. You can apply for between $5,000 and $55,000 with a loan term of up to 7 years.

This loan comes with a fixed interest rate, which is currently 6.99% p.a. but there is also a variable rate option available.

Features and benefits of the NAB Unsecured Personal Loan

Various loan amounts available. You can borrow between $5,000 and $55,000 for most worthwhile purposes.
Fixed interest rate. This loan comes with a fixed interest rate, which is currently 6.99% p.a..
You can select the term of the loan. You can opt to pay your loan back in as little as 1 year or in as many as 7 years.
Flexible repayments. You can make payments on a weekly, fortnightly or monthly basis to sync repayments with your own pay cycle.

Fees and charges applicable

Application fee. $150.
Loan service fee. $10 per month. This is charged to maintain your account.
Default fee. $0

How you can apply

If you're ready to apply for this loan, you can click "Go to Site" to submit your application. You will need to meet the following eligibility criteria to apply for the loan:

You must be over 18 years of age
You must live in Australia
You must be a permanent Australian resident, an Australian or New Zealand citizen, or hold an acceptable temporary residency visa
You must earn a regular income

In order to apply for a NAB unsecured personal loan, you will also need to provide the following information.

Proof of identification or a valid driver's licence number
Income details as well as details of all the assets through which income can be generated
Information regarding your financial savings as your assets
Information regarding all your current store cards and credit cards along with any other liabilities

Once you submit your application, NAB will send you an email to let you know they've received it and you'll be contacted within two business days to let you know the outcome. The NAB Unsecured Personal Loan is a flexible option for those looking to borrow up to $55,000.

Remember to always look at a number of loan products before deciding on the one that is right for you.

Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

More info

ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

More info

NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

More info

SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 5.95% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

More info

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18 Comments

JJ
October 15, 2016

I have been an anz customer for 12 years. Had my first loan of $10000 3years ago which I paid off in 6 months. I got my first credit card 18 months ago for a limit of $6000 which for the last year has been maxed out but consistently making payments. The last 3 months have been making weekly payments and 6months before just monthly as I was always exceeding my limit. I asked for an increase limit, loan then overdraft and was declined. I applied with other banks at the time and was offered a $11,000 credit card from NAB and $12,000 credit card from Westpac. I decided not to accept either cos I couldn’t be bothered switching bank details. 9months later I opened up a bank account with NAB and applied for the credit card but only a $3000 limit. I have made several inquiries lately which I did not realise affected my credit rating. I have been approved for small loans with high interest rates and shorter payments. I am paying a total of $550 per week off these loans so asked anz for a debt consolidation loan 15k debt including credit cards and 10k personal. I have been declined because I don’t meet their lending criteria…. They let a computer decide their answer, treat me like another number and not a valuable customer. I am switching to NAB now but also been looking at the peer to peer lending as I am hoping I have a better chance. If I have had my NAB account for 6weeks and have my wages start this week, Do you think they will give me a loan?

finder Customer Care

Elizabeth
October 19, 2016

Hi JJ,

Thanks for your question.

Unfortunately, there’s no one surefire way to tell if you will be approved for a loan. As long as you meet the minimum eligibility criteria set by the lender, you are eligible. However, following this, the lender will look at your credit history and financial situation (income, debts, etc.) to see if you will be able to service the loan.

From what it sounds like, you have several inquiries listed on your credit file which would have affected your credit score and will be a red flag to lenders.

Peer-to-peer lenders give you a rate based on your credit score. So, if your score is low you will get a higher interest rate.

You might want to get a free credit score to see where you stand and then make your decision from there.

Hope this helps,

Elizabeth

goomstar
September 20, 2016

How do I go about applying for a loan if me to NAB

finder Customer Care

Elizabeth
September 20, 2016

Hi goomstar,

You can head directly to NAB’s website to apply for the personal loan.

Thanks,

Elizabeth

linda
September 12, 2016

I have an unsecured per loan and credit card ,I wanted tto consolidate plus add a bit , please advise

finder Customer Care

Elizabeth
September 13, 2016

Hi Linda,

This is an unsecured personal loan so you can use it for whatever purpose you need, including debt consolidation. If you meet the minimum eligibility criteria and show that you can afford the loan you can apply on NAB’s website.

Thanks,

Elizabeth

Adrian
July 11, 2016

Hi,

Can I reopen a personal loan once it’s been closed within 24 hours.

finder Customer Care

Elizabeth
July 12, 2016

Hi Adrian,

You’ll need to get in contact with your lender directly to enquiry about reopening your loan.

Hope this helps,

Elizabeth

Jeffry
July 7, 2016

do you lend to the United States citizens living in the US

finder Customer Care

Elizabeth
July 7, 2016

Hi Jeffry,

As a financial comparison service we don’t offer the loans ourselves, but you can compare a range of personal loans for US residents on our US Finder personal loans page.

I hope this helps,

Elizabeth

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NAB Unsecured Personal Loan