NAB personal loans
As one of Australia's big four banks, National Australia Bank (NAB) has been providing financial services to customers in Australia, New Zealand and around the world for more than 150 years. NAB offers personal loans, savings accounts, transaction accounts, credit cards, home loans and financial services for businesses.
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Why choose NAB
NAB Personal Loans
Personal Loans calculator
Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated repayments
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- This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
- Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
- Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
- Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
- The calculation rounds of the personal loan repayment to the closest dollar value without decimals.
- All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
- Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
- Calculator does not include the cost of fees or other extra charges.
- Calculator does not account for changes to interest rates over time.
- This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.
Features of a NAB personal loan
NAB’s unsecured personal loans are available for those looking to borrow between $5,000 and $55,000. You can choose either a fixed or variable interest rate, depending on whether you would prefer simpler budgeting or greater repayment flexibility.
You can choose a loan term of between one and seven years, which allows you pay your debt off sooner or make more affordable repayments. These repayments can be made weekly, monthly or fortnightly or weekly. In some circumstances, you could receive your funds on the same day if you apply in-branch by 2pm.
NAB personal loans can be used for a range of different purposes including to help pay off student debts, consolidate debts, invest in share or to renovate your home.
NAB personal loans – customer service
NAB customers can contact the bank online, via email or on the phone seven days a week. Customer support phone lines are open between 8am - 7pm on Mondays to Fridays, 7am - 6pm on Saturdays, 9am - 6pm on Sundays.
There is also a vast network of branches across Australia, where customers can drop into for support.
Who is eligible for a NAB personal loan?
To be eligible for a NAB personal loan, borrowers must meet the following criteria:
- Be at least 18 years old
- Be an Australian or New Zealand citizen, Australian permanent resident or have a valid visa
- Have a regular income
- Be able to service the loan repayments
How to apply for a NAB personal loan?
Applications for a NAB personal loan can be made online or in a branch. The process takes around 10 minutes and involves the following steps:
- Apply online through the NAB website.
- NAB will then review your application and, if eligible, you may receive conditional approval within 60 seconds. You will also be able to find out your indicative interest rate and repayment amount.
- If approved, you can accept loan documents, which state your final interest rate and repayment, online.
- Once accepted, the funds are paid directly into your NAB account.
At the time of application, you’ll need to provide the following documentation:
- Proof of identity
- Employment details for the past three years
- Details of your income before and after tax, and how often you are paid
- Details of your monthly living expenses
- Details of what you owe
- Details of what you own
NAB personal loans review
A NAB personal loan can be used for a wide range of purposes like weddings, cars, holidays and renovations. Borrowers can borrow from $5,000 to $55,000, with loan terms from one to seven years and choose from either a fixed or variable interest rate.
While NAB personal loans have a range of features, it’s worth noting that NAB’s fixed and variable personal loan interest rates are considered to be moderate. NAB also charges an upfront fee and an ongoing monthly fee.
With NAB personal loans, you have the option to make extra repayments onto NAB’s fixed or variable personal loans, which could potentially reduce the amount of interest you pay. NAB personal loans also have no exit fees for paying off the loan early. However, only the variable-rate personal loan includes access to a redraw facility, which allows you to withdraw the extra repayments you have made into your loan.
Before choosing a personal loan, it always pays to do your research and compare your options.
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.
