NAB Personal Loans

Rates and Fees verified correct on December 5th, 2016
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Discover the benefits of getting a loan from NAB if you need financing for a new car, a holiday or home renovations.

NAB offers a wide range of financial products to suit different borrowing needs in Australia. The bank offers competitive rates and 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 may have a loan designed with you in mind.

NAB Personal Loans Comparison

Rates last updated December 5th, 2016
$
Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
NAB Personal Loan Unsecured Variable Rate
A low interest rate loan with redraw facility to access money you've paid in advance.
From 13.69% (variable) 14.56% $5,000 1 to 7 years $150 More
NAB Car Loan Variable Rate
Whether you're upgrading your ride or adding to your garage, a NAB Personal Loan gives you a great low rate.
From 13.69% (variable) 14.56% $5,000 1 to 7 years $150 More
NAB Personal Loan Unsecured Fixed
An unsecured loan available for a wide range of purposes for a long period of time up to 7 years.
From 14.19% (fixed) 15.06% $5,000 1 to 7 years $150 More

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). The 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 Car Loan. The loan term is from 1 to 7 years and you can finance a new car or used car.
  • Unsecured Personal Loan (Variable). The unsecured variable rate options 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 and 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 and 7 years, depending on whether you choose a fixed or variable rate.
  • Interest rate. NAB offers competitive rates and gives you the option of choosing between fixed and variable rates.
  • 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 below 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.

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This page was last modified on 21 June 2016 at 10:16.

HSBC Personal Loan

A competitive fixed interest rate loan with the option to make extra repayments. Min. income $30,000

Latitude Personal Loan (Secured)

Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.

CUA Variable Rate Personal Loan

Enjoy a competitive interest rate, flexible repayment options and no monthly fees.

SocietyOne Unsecured Personal Loan

Interest rates for a 3 year loan range from 7.88% p.a. to 25.49% p.a. Comparison rate from 9.9% p.a. to 26.74% p.a. depending on your credit score

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12 Responses to NAB Personal Loans

  1. Default Gravatar
    shireen | September 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?

    • Staff
      Elizabeth | September 29, 2016

      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

  2. Default Gravatar
    RL | August 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?

    • Staff
      Anndy | August 13, 2016

      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

  3. Default Gravatar
    rr | May 9, 2016

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

    thanks

    • Staff
      Elizabeth | May 10, 2016

      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

  4. Default Gravatar
    priscilla | April 14, 2016

    Can I get a loan I’m on carer pension

    • Staff
      Elizabeth | April 15, 2016

      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

  5. Default Gravatar
    Sharon | March 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?

    • Staff
      Belinda | March 15, 2016

      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

  6. Default Gravatar
    Mary | December 4, 2014

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

    • Staff
      Shirley | December 4, 2014

      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

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