NAB Unsecured Variable Rate Personal Loan Review | finder.com.au
finder.com.au

NAB Unsecured Variable Rate Personal Loan

Avatar
Matt Corke
Last updated:  

Apply for up to $55,000 for any worthwhile purpose.

NAB's Unsecured Variable Rate Personal Loan gives you a flexible way to finance a range of purposes, whether that be consolidating debt or renovating your home. You can borrow between $5,000 and $55,000 and have up to 7 years to repay what you borrow.


From 6.99% (variable)

Interest Rate (p.a.)

7.91%

Comparison Rate (p.a.)

$5,000

Min Loan Amount

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product NameNAB Personal Loan Unsecured Variable Rate
Interest Rate (p.a.)
From 6.99% (variable)
Comparison Rate (p.a.)7.91%
Interest Rate TypeVariable
Min Loan Amount$5,000
Max. Loan Amount$55,000
Loan SecurityUnsecured

Main points to consider with the NAB Unsecured Variable Rate Personal Loan

This loan comes with a variable rate of 6.99% and loan terms of between 1 year and 7 years . If you are interested in the loan but want a fixed interest rate, this option is also available.

As the loan is unsecured you aren't required to attach any guarantee to the loan. The application fee of $150 is applied.

There's a monthly service fee of $10.

Features of the NAB Unsecured Variable Personal Loan

  • Loan amounts. You can apply for between $5,000 and $55,000 making the loan suitable for a range of borrowing needs.
  • Variable interest rate. This loan comes with a variable rate of 6.99% p.a. (comparison rate 7.91% 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 your budget, you can choose your own loan term from 1 year to 7 years.
  • 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.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

More info
Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% 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
Logo for NAB Personal Loan Unsecured Fixed
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
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

More info
Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% 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

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

38 Comments

    Default Gravatar
    Blake
    December 5, 2018

    I currently have a loan with nab which is my bank and have realised that there is other banks that offer lower rates and lower interest but is it possible to re finance through another bank?

    Reply
      Avatarfinder Customer Care
      John
      December 10, 2018

      Hi Blake,

      Thank you for reaching out to finder.

      Yes, it is possible that you could move your current existing loan to another bank. But it is advisable that you advise your current lender regarding this to ensure that they are knowledgeable regarding your intention to transfer loan providers. Hope this helps!

      Cheers,
      Reggie

      Reply
    Default Gravatar
    Joan
    December 11, 2017

    i want to clear up all outstanding debts including credit card.
    I have a very good friend who has offered to help me in getting this loan should I be in need of his help. I am a NAB customer so they have all my details. So I would like to try for $10,000 to clear all these up and go and see my son and his family for christmas.

    Reply
      Avatarfinder Customer Care
      Rench
      December 12, 2017

      Hi Joan,

      Thanks for reaching out to us.

      According to our review, there are some definite advantages to applying with your current bank as it may be more willing to approve you because it has an existing relationship with you and can see all your incomings and outgoings. Then again, it may not be able to offer you the best deal. You may want to compare your options before you apply to see how competitive its products are. Then, talk to your bank before applying to discuss your eligibility.

      You can also have a look at our list of personal loans for debt consolidation. Debt consolidation allows you to combine all your loans into one. Essentially, it can give you a way to reduce your interest rates and fees, thereby giving you a way to get yourself out of debt. On the page, is a comparison table you can use to see which lender suits you. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      I hope this information helped.

      Best regards,
      Rench

      Reply
    Default Gravatar
    Edmond
    November 10, 2017

    How do apply for a 10,000 loan?

    Reply
      Default Gravatar
      Jonathan
      November 10, 2017

      Hi Edmond,

      Thank you for your inquiry.

      There are options on this page for 10,000 loans.

      Take note that their eligibility and loan agreement may vary across different lenders, so it is important to review them before applying. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Hope this helps.

      Cheers,
      Jonathan

      Reply
    Default Gravatar
    Cooper
    September 9, 2017

    Applying for a personal loan with a bank I have previous and existing debt. Is it likely my application would be approved?

    Reply
      Default Gravatar
      Liezl
      September 9, 2017

      Hi Scooper,

      Thanks for reaching out to Finder.

      Your chances of getting a new loan will depend on the bank’s policy, your current loan restrictions, and your ability to afford the new loan repayments. It’s a good idea to review your existing loan agreement and contact your bank for more details on your eligibility. Meanwhile, you may want to check our list of lenders who offer loan top-up and their conditions.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Cheers,
      Liezl

      Reply
    Default Gravatar
    Rick
    February 26, 2017

    Hi.
    My wife and i are looking for a consolidation loan.
    We currently have about 25k in debt and not having much luck.
    We earn around 7k between us a month so we can afford repayments of up to 1k p/m.
    The issue arises when our credit reports are looked at.
    They aren’t the best. Nothing bad, just a lot of enquiries
    and knock backs.
    Would we find it hard?
    Thanks.

    Reply
      Avatarfinder Customer Care
      Dee
      February 27, 2017

      Hi Rick,

      Thanks for your question.

      Even if you have a low credit rating, you may still be able to get a debt consolidation loan. Open that link to find lenders who may be able to help and our guide that helps you understand better how debt consolidation works.

      Cheers,
      Anndy

      Reply
    Default Gravatar
    Carl
    January 12, 2017

    I have an existing loan with nab and I want to refinance and take out a new loan do nab still except a carers pension as income only

    Reply
      Avatarfinder Customer Care
      Dee
      January 12, 2017

      Hi Carl,

      Thanks for your question.

      NAB considers some Centrelink income, but you need to demonstrate you can afford the loan repayments by providing your financial details. Please do get in touch with NAB to confirm if they accept carers pension.

      Another option you may also have is to refinance your personal loan.

      Cheers,
      Anndy

      Reply
    Default Gravatar
    Ana
    October 6, 2016

    Can i refinance my loan ??

    Reply
      Avatarfinder Customer Care
      Dee
      October 7, 2016

      Hi Ana,

      Thanks for your question.

      You may want to check the list of refinancing personal loans featured on our website to learn more of your options.

      Cheers,
      Anndy

      Reply
    Default Gravatar
    Ana
    October 6, 2016

    I applied fir a fixed rate unsecured personal loan in April this yr n my repayment term is 2yrs..can I apply for another amount on top of my remaining amount now??

    Reply
      Avatarfinder Customer Care
      Elizabeth
      October 7, 2016

      Hi Ana,

      You may be able to apply for a loan top up but it would involve making an application for another loan with NAB, paying out your existing balance and then opening a new account. You’ll need to contact NAB directly to discuss your eligibility.

      Hope this helps,

      Elizabeth

      Reply
      Default Gravatar
      Ana
      October 7, 2016

      I have a loan with nab snd i have 3900 to pay off and i was wondering if i am eligible for a refinance

      Reply
      Avatarfinder Customer Care
      Elizabeth
      October 7, 2016

      Hi Ana,

      Your eligibility depends on a range of factors, including your income, debts, assets, and credit history. The minimum eligibility criteria are listed on finder review pages so you can check if you’re able to apply. You may want to compare personal loan refinancing options.

      Thanks,

      Elizabeth

      Reply
    Default Gravatar
    Meeee
    April 24, 2016

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

    Reply
      Avatarfinder Customer Care
      Elizabeth
      April 26, 2016

      Hi,

      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,

      Elizabeth

      Reply
    Default Gravatar
    peter
    March 17, 2016

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

    Reply
      Default Gravatar
      muhammad
      March 24, 2016

      Can I apply loan

      Reply
      Avatarfinder Customer Care
      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,

      Elizabeth

      Reply
      Avatarfinder Customer Care
      Elizabeth
      March 21, 2016

      Hi Peter,

      Your fortnightly repayment amount will depend on the lender’s interest rates and upfront fees. You can work out your repayments on any loan term using our personal loan repayment calculator.

      Please ensure to read through the relevant product disclosure statement and terms and conditions of the loan to ensure that you got everything covered before you apply.

      I hope this will help.

      Thanks,

      Elizabeth

      Reply
Go to site