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NAB Personal Loans

Discover the benefits of getting a loan from NAB if you need financing for a new car, a holiday or home renovations.

Matt Corke
Matt Corke

Updated

Fact checked
NAB
  • COVID-19 Update

If you're struggling to repay your personal loan, you can get in touch with the bank directly or read our guide.

NAB offers a wide range of financial products to suit different borrowing needs in Australia. The bank offers a range of tailored banking solutions to customers, which includes personal loans. Whether you’re looking for money to go travelling, to buy a car or to renovate your home, NAB could have a loan designed with you in mind.

What's in this guide?

  1. NAB offers two personal loans:
  2. What can I use a NAB Personal Loan for?
  3. Features and benefits of a NAB personal loan
  4. What other products does NAB offer?
  5. How to apply for a personal loan from NAB

NAB Personal Loan Unsecured Fixed

NAB Personal Loan Unsecured Fixed

From

9.99 % p.a.

fixed rate

From

10.88 % p.a.

comparison rate

  • Additional repayments without penalty
  • No early exit fees
  • Borrow up to $55,000
Security Logo

100% confidential application

NAB Personal Loan Unsecured Fixed

NAB offers a fixed interest rate loan. Use your loan for a holiday, home improvement, a special project or even a wedding. It’s even a smart way to take control of your credit card debt.

  • Interest rate from: 9.99% p.a.
  • Comparison rate: 10.88% p.a.
  • Interest rate type: Fixed
  • Application fee: $150
  • Minimum loan amount: $5,000
  • Maximum loan amount: $55,000
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NAB offers two personal loans:

Data indicated here is updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

From 9.99% (fixed)
10.88%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% 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.
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More Info
NAB Personal Loan Unsecured Variable Rate
NAB Personal Loan Unsecured Variable Rate

From 9.99% (variable)
10.88%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 9.99% p.a. and 18.99% p.a. ( 10.88% 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. Benefit from fee-free additional repayments and a redraw facility. 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.
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More Info
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What can I use a NAB Personal Loan for?

The personal loans from NAB can be used for a variety of purposes. Below are some of the main types of personal loans that you can take advantage of from NAB:

  • Unsecured Personal Loan (Fixed). This unsecured loan can help you pay for home renovations, travel or even debt consolidation. NAB personal loans allow you to borrow between $5,000 and $55,000 depending on your needs and capacity to pay. As the loan is fixed, your repayments won't fluctuate during the loan term.
  • Car Loans. If you’re looking for financing options for a car, you might want to consider a NAB Unsecured Personal Loan. The loan term is from 1 to 7 years and given that the loan is unsecured, you can finance a new car or used car.
  • Unsecured Personal Loan (Variable). The unsecured variable rate option gives you increased repayment flexibility with your loan. You still won't be able to attach security but you will be able to make additional repayments and redraw them when you need to. Loan terms between 1 to 7 years are available.

Features and benefits of a NAB personal loan

  • Loan amount. NAB’s personal loans give you the ability to borrow from $5,000 up to $55,000.
  • Repayment terms. You can repay your loan in a period ranging between 1 to 7 years, depending on whether you choose a fixed or variable rate.
  • Interest rate. NAB gives you the choice between fixed and variable rates with its personal loans.
  • Repayment flexibility. There is no penalty for extra repayments, allowing you to pay off your loan sooner.
  • Redraw facility. A redraw facility is available for variable rate loans.

What other products does NAB offer?

  • Business Loans. You can expand your business with competitive loan offers. Whether you want to expand your branch network or invest in increasing your manufacturing capacity, NAB business loans are designed to give your company a boost.
  • Bank Accounts. NAB has a complete range of bank accounts for customers. You can open a savings account, a transaction account or a specialised account. Check out the features of each product to determine which one best suits your needs.
  • Credit Cards. NAB offers three main credit cards that are designed to suit different buying habits. The bank offers credit cards for personal users, business customers and frequent flyers.

How to apply for a personal loan from NAB

It is very easy to apply for a NAB personal loan – just click "Go to Site" to get started. Before you start, make sure you meet the following eligibility criteria:

  • 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

It takes 20 minutes or less to submit an online form, but if you're an existing NAB customer you can apply through Internet banking. While NAB offers a competitive range of personal loan products, it's best to compare the options you have available to you before submitting your application.

Read more on this topic

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 25.69% 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 NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% 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 7.5% p.a. and 20.49% p.a. based on your risk profile
A loan from $10,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

More info
Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 7.45% p.a. and 16.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

More info

Ask an Expert

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16 Responses

  1. Default Gravatar
    BradJuly 12, 2018

    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? .

    Reply
    • Avatarfinder Customer Care
      MayJuly 23, 2018Staff

      Hi Brad,

      Thank you for your inquiry and sorry for the delay.

      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 guide from this 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.

      Hope this helps.

      Cheers,
      May

      Reply
  2. Default Gravatar
    JohnMay 6, 2018

    Will I be eligible for acceptance for the loan application? Please let me know. Thanks!

    Reply
    • Avatarfinder Customer Care
      JeniMay 6, 2018Staff

      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

      Reply
  3. Default Gravatar
    shireenSeptember 29, 2016

    if i dnt have an NAB acc,but 1 wit ANZ can i still apply for overdraft/credit card wit NAB? How long will it take 2 process/approved or not?

    Reply
    • Avatarfinder Customer Care
      ElizabethSeptember 29, 2016Staff

      Hi Shireen,

      You’ll need to open a transaction account with NAB if you want an overdraft, but you can apply for a NAB credit card without holding any other product.

      NAB can get a new credit card to you in 5-7 days after you’ve been approved.

      Thanks,

      Elizabeth

      Reply
  4. Default Gravatar
    RLAugust 13, 2016

    Hi, I apply for personal loan a week ago and still don’t have any answer wether if i’m approved or not. How long does it take to know the result of the application?

    Reply
    • Avatarfinder Customer Care
      DeeAugust 13, 2016Staff

      Hi RL,

      Thanks for your comment.

      Please note that finder.com.au is a financial comparison and information service. We do not represent NAB.

      After you submitted a personal loan application with NAB, you should be able to receive an email or a secure message through internet banking straight away to confirm that they have received your application. Within 1-2 business days, they will send an email informing you of the status of your application.

      If you have not received any email from NAB to confirm the status of your application, I suggest that you directly get in touch with them to inquire.

      Cheers,
      Anndy

      Reply
  5. Default Gravatar
    rrMay 9, 2016

    can 485 graduate visa get a loan 7000$?
    i got 13 month left to visa expired

    thanks

    Reply
    • Avatarfinder Customer Care
      ElizabethMay 10, 2016Staff

      Hi RR,

      NAB considers temporary residents for certain loans but you need to be holding a 457 Visa or be a New Zealand citizen. You can find out more of your loan options on this page.

      Hope this has helped,

      Elizabeth

      Reply
  6. Default Gravatar
    priscillaApril 14, 2016

    Can I get a loan I’m on carer pension

    Reply
    • Avatarfinder Customer Care
      ElizabethApril 15, 2016Staff

      Hi priscillajh,

      Some Centrelink income is considered by NAB as a regular income, the main thing is that you are able to demonstrate that you are able to afford the loan repayments. You can find out more information on this page.

      Hope this will hep,

      Elizabeth

      Reply
  7. Default Gravatar
    SharonMarch 14, 2016

    I am on a ds pension and have a part time job. I am a single mother. I would like to get a home loan. Is there a bank out there who will lend me the money and how much do I need as a deposit pls?

    Reply
    • Avatarfinder Customer Care
      BelindaMarch 15, 2016Staff

      Hi Sharon,

      Thanks for getting in touch.

      We have a page about home loans for Centrelink recipients where you can enquire with a mortgage broker that can help review your financial position and find a suitable product for you. As you’ll see in the table, the disability pension is accepted by most lenders as a form of income given that you have a secondary income source (which it appears that you do through part-time employment).

      Keep in mind that it can be difficult to qualify for a loan if you’re on the pension as the lender views you as a high-risk borrower. However, if you can demonstrate to the lender that you have a good credit history, sufficient savings and enough income/benefit to service the loan then you may be able to qualify.

      Typically you should try to come up with at least a 20% deposit to avoid paying lender’s mortgage insurance (LMI) for a full documentation loan.

      Thanks,
      Belinda

      Reply
  8. Default Gravatar
    MaryDecember 4, 2014

    I am on a disability pension. Could I qualify for a car loan.

    Reply
    • Avatarfinder Customer Care
      ShirleyDecember 4, 2014Staff

      Hi Mary,

      Thanks for your question.

      Please get in touch with NAB directly regarding this enquiry. You’ll be able to discuss how much you receive, how often and if you have a primary source of income.

      They’ll be able to explain what options are available to you and discuss your eligibility.

      Cheers,
      Shirley

      Reply
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