NAB Personal Loans
Buy a car, go on holiday or renovate your home with an unsecured personal loan.
Key takeaways
- NAB offers unsecured personal loans, both fixed and variable, ranging from $5,000 to $60,000.
- Interest rates often range from 7.50% p.a. to 8.90% p.a. with a $250 application fee and $15 monthly fee.
- NAB scores above average for customer trust and service in recent satisfaction awards.
What different scores mean
9+
Excellent
The crème de la crème of personal loans. These products offer the lowest cost loans accompanied by the best features.
7+
Great
Slightly higher in cost and fewer features, but these products are still competitive.
5+
Standard
Typically offering above average rates and possibly lacking in the features department.
0+
Basic
The least competitive in terms of both cost and features.
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How to apply for a NAB personal loan
Applying online is a straightforward process. You'll need to meet general eligibility requirements including:
- Being at least 18 years of age
- Being an Australian citizen or a permanent resident of Australia
- Being in paid employment
Compare other products from NAB
- NAB credit cards
- NAB home loans
- NAB savings accounts
- NAB car loans
- NAB business loans
- NAB home insurance
- NAB car insurance
- NAB landlord insurance
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I’m a self-funded retiree could I get a short-term loan of $15500 to be paid off in two months
Hi Bruce,
With a NAB personal loan specifically you usually need to take out a minimum loan term of 1 year. NAB does offer early repayment without fees though. But you’ll need to speak to the bank directly for their eligibility criteria to see if you qualify for a loan.
Thanks,
Rebecca
is it possible to borrow against a asset such as a house for a car loan plus interest rates
Hi Mike,
Yes this can be possible. To do this you refinance your current home loan (say $500,000) into a new loan worth more (say $525,000) and you can use the extra $25,000 towards a car, a holiday or renovations.
Your ability to do this depends on a few things: how much your property asset is worth, how much income you earn and whether you can afford the new higher repayments. This can be a good way to pay a lower interest rate (a home loan interest rate is lower than a car loan rate), but you will be paying it off over a longer period of time, which means you can pay more over the long term. One way to reduce the interest is to make extra repayments.
You can review some options for refinancing here.
Hope this helps!
Hi there, my partner using my NAB account to put his salary. He wants to apply for a home loan, can he use my bank account?
Hi Mary Jane,
To apply for a home loan, your boyfriend will need to verify his income. They’ll usually request evidence in the form of pay slips, bank statements and potentially tax records. Supplying your bank statements should be fine, as long as the bank can verify that the income relates to his employment and correlates to his payslips.
Hope this helps!
If I own my own business, and it’s been dormant for long enough to make my ABN need renewing, and registration again, and I have guaranteed work with it, but also my car was struck recently and I need a ute to run the business, will anyone give me finance while I’m on a pension? .
Hi Brad,
Thank you for your inquiry. We appreciate your patience.
Is this pension you’re receiving a Centrelink pension? If so, yes, there are lenders who might offer you a business loan while on a pension from Centrelink. You can find helpful tips and guidance from our Centrelink business loans page on how to apply and from which lender. When you’ve chosen a lender already, best to contact them directly so you can discuss your eligibility or options. When you are ready, you may then click on the “Go to site” button if available 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,
May
Will I be eligible for acceptance for the loan application? Please let me know. Thanks!
Hi John,
Thank you for getting in touch with finder.
As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.
As long as you meet the eligibility criteria while applying for a NAB personal loan then you have the chance to be accepted. In this page just click “Go to Site” to get started.
The application requirements for a NAB personal loan are:
– Be at least 18 years old
– Be an Australian citizen or permanent resident of Australia
– Earn a regular income or wage
– Be able to afford the loan repayments
To apply for a NAB personal loan, make sure you have the following on hand to complete the application:
– Income and employment details
– Details of your assets, debts and liabilities
– If you’re self-employed, you’ll need a personal income tax return and your most recent notice of assessment
– If your business runs as a partnership, company or trust, you’ll need a partnership, company or trust tax return
I hope this helps.
Have a great day!
Cheers,
Jeni