If you're struggling to repay your personal loan, you can get in touch with the bank directly or read our guide.
NAB offers unsecured personal loans with fixed or variable interest rates, and unsecured car loans. The interest rates can vary between 6.99% and 18.99% 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 12.69% 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
NAB offers two personal loans:
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.
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
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?
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
can 485 graduate visa get a loan 7000$?
i got 13 month left to visa expired
thanks
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 take a look at our website and find more personal loans for temporary residents.
Hope this has helped,
Elizabeth