NAB offers unsecured personal loans with fixed or variable interest rates, and unsecured car loans. The interest rates can vary between 6.99% and 20.49% p.a. If you have an excellent credit history, you may be offered a lower rate. For average credit applicants, rates can be as high as or more. There is also an establishment fee of $150, and a monthly fee of $10. Your loan term will range from 1 to 7 years.
NAB Personal Loan Unsecured Fixed
From
6.99 % p.a.
fixed rate
From
7.91 % p.a.
comparison rate
- Additional repayments without penalty
- No early exit fees
- Borrow up to $55,000
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: 6.99% p.a.
- Comparison rate: 7.91% p.a.
- Interest rate type: Fixed
- Application fee: $150
- Minimum loan amount: $5,000
- Maximum loan amount: $55,000
Compare NAB Personal loans:
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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 , 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.
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
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?
Hi Shireen,
You’ll need to open a transaction account with NAB if you want an overdraft, but you can also send a NAB credit card application 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