NAB Unsecured Variable Rate Personal Loan

Rates and fees last updated on

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.

Things to consider about a NAB Unsecured Variable Personal Loan

Product NameNAB Personal Loan Unsecured Variable Rate
Interest Rate (p.a.)From 14.69% (variable)
Comparison Rate (p.a.)15.55%
Interest Rate TypeVariable
Min Loan Amount$5,000
Max. Loan Amount$55,000
Loan SecurityUnsecured


  • Apply for up to $55000
  • Repay early without penalty
  • No security required


  • Application fee of $150
  • Monthly fee of $10

This loan comes with a variable rate of 14.69% p.a. and loan terms of between 1 and 7 year(s).

As the loan is unsecured you aren't required to attach any guarantee to the loan. An application fee of $150 is charged with this loan, as is a $10 monthly service fee.

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 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 your budget, you can choose your own loan term from 1 year(s) to 7 year(s) A $150 application fee also applies.
  • $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 1 August 2017 at 2:57pm.

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32 Responses

  1. Default Gravatar
    CooperSeptember 9, 2017

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

    • Staff
      LiezlSeptember 9, 2017Staff

      Hi Scooper,

      Thanks for reaching out. 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’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 this page for the list of lenders who offer loan top-up and their conditions.


  2. Default Gravatar
    RickFebruary 26, 2017

    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?

    • Staff
      AnndyFebruary 27, 2017Staff

      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.

      Please check this page for your possible options.


  3. Default Gravatar
    CarlJanuary 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

    • Staff
      AnndyJanuary 12, 2017Staff

      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.

      If you are looking to refinance your personal loan, you can check and compare your options here.


  4. Default Gravatar
    AnaOctober 6, 2016

    Can i refinance my loan ??

    • Staff
      AnndyOctober 7, 2016Staff

      Hi Ana,

      Thanks for your question.

      If you are looking to refinance your personal loan, you can compare your options here.


  5. Default Gravatar
    AnaOctober 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??

    • Staff
      ElizabethOctober 7, 2016Staff

      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,


    • Default Gravatar
      AnaOctober 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

    • Staff
      ElizabethOctober 7, 2016Staff

      Hi Ana,

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



  6. Default Gravatar
    MeeeeApril 24, 2016

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

    • Staff
      ElizabethApril 26, 2016Staff


      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,


  7. Default Gravatar
    peterMarch 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?

    • Default Gravatar
      March 24, 2016

      Can I apply loan

    • Staff
      ElizabethMarch 30, 2016Staff

      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
      ElizabethMarch 21, 2016Staff

      Hi Peter,

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

      I hope this will help.



  8. Default Gravatar
    MelissaFebruary 26, 2016

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

    • Staff
      ElizabethFebruary 26, 2016Staff

      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,


  9. Default Gravatar
    LiahJanuary 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
      ElizabethJanuary 27, 2016Staff

      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.



  10. Default Gravatar
    ERROLJanuary 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
      ElizabethJanuary 18, 2016Staff

      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.



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