NAB variable unsecured personal loan
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- Interest Rate (p.a.)
- 7.00% to 21.00%
- Comparison rate (p.a.)
- 8.05% to 21.88%
- Min Loan Amount
- $5,000
Summary
A personal unsecured variable loan from NAB has competitive interest rates.
3 things to consider about this loan:
- Variable rate loan. the interest rate varies over the term of the loan as it is based on an index that changes periodically.
- You can borrow for any worthwhile purpose, without using the goods as security.
- There is no fee if you pay out the loan early.
Pros
-
No early repayment fees
-
Ability to redraw extra payments if you’re ahead on your repayments
Cons
-
A lower maximum borrowing amount than many competitors
-
Potentially high interest rates for people with lower credit scores
Details
Product details
| Product Name | NAB Personal Loan Unsecured Variable Rate |
| Interest Rate (p.a.) | 7.00% to 21.00% |
| Comparison rate (p.a.) | 8.05% to 21.88% |
| Interest Rate Type | Variable |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $55,000 |
| Loan Security | Unsecured |
How does the NAB personal unsecured variable loan work?
An unsecured personal loan from NAB can be used for any worthwhile purchase, such as to consolidate debt, go on a holiday, or for a wedding. It cannot be used for a house deposit, any illegal activities, lender’s mortgage insurance, or business purposes.
Your interest rate will be tailored to your circumstances - meaning NAB will base it on factors like your credit history and credit score.
The interest rate is fixed and is calculated based on your personal financial situation and there are no fees for early payout or late payments.
Eligibility criteria
To be eligible for this loan, you must:- Be 18 years of age or older
- Have a regular source of income
- Be an Australian resident
- Be an Australian or New Zealand citizen, Australian permanent resident or non resident with an acceptable temporary residency visa.
How to apply
- Submit your application online. You will get conditional approval in under 60 seconds.
- NAB will verify your information, and ask for more information if needed.
- If your loan is approved you will receive an offer from NAB and the money will be transferred to your NAB account on the day that you accept NAB's offer.
You will need
- Your personal NAB ID - if you have one. This is located in your NAB app through My Details or on the back of your NAB card.
- Driver's licence number - (if you have a driver’s licence)
- Details of employment for the past three years
- Your financial information which includes assets, debts, income and expenses
The information to support your financial information can be uploaded when you fill in the application. If you can’t upload the docs, NAB will advise you by email on other ways to provide them the documents they need.
Features of this loan
- $0 application fee offer. From 19 November 2025 to 26 February 2026, NAB is waiving the $250 application fee on unsecured personal loans. This offer is subject to credit approval and eligibility criteria.
- Risk-based interest rates. Your interest rate will be determined by your credit score and risk profile, so may not be the rate advertised.
- Unsecured loan. You do not need collateral for this loan.
- Speedy application process. You can receive an initial confirmation in under a minute Once your loan has full approval the funds will be transferred to your NAB account the same day.
- Flexible payment schedule. Payments can be made weekly, fortnightly or monthly.
- Ability to repay early. There is no exit fee payable if you pay of your NAB personal loan early.
- Redraw Facility. If you're ahead on your repayments, you can redraw the extra funds from your loan account online.
How much does a NAB unsecured variable personal loan cost?
You will pay these fees
| Cost | Amount |
|---|---|
Establishment fee | $0 |
Ongoing fees | $15 per month |
You might pay these fees
| Cost | Amount |
|---|---|
Exit fee | $0 |
Late payment fee | $0 |
Paper statement fees | $0 |
Dishonour fee | $0 |
Sources
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