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 Name||NAB Personal Loan Unsecured Variable Rate|
|Interest Rate (p.a.)||From 14.69% (variable)|
|Comparison Rate (p.a.)||15.55%|
|Interest Rate Type||Variable|
|Minimum Loan Term||1 year|
|Maximum Loan Term||7 years|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$55,000|
|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 $5,000
- Application fee of $150
- Monthly fee of $10
With a variable interest rate of 14.69% p.a. and a comparison rate of 15.55% 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 14.69% p.a. (comparison rate 15.55% 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.