Personal Overdraft
Access extra money through your everyday NAB account.
Apply for a Personal Overdraft
New to NAB? Start by finding the account that suits you
If you have a NAB Choice Package and a NAB Gold Banking account, have a look at NAB Overdraft Protection, which offers limits of $500-$10,000 with no line fees.
Overview
Adding a personal overdraft to your everyday account lets you access extra money (up to an agreed limit) that you can use however you like. You can apply for a limit as low as $500.
Overdrafts have no end date or repayment schedule. You only pay interest on the funds that you actually use.
To repay money you borrow through an overdraft you just need to deposit it into your account like normal.
Overdrafts are unsecured, so you don't need to put up your house, car, or anything else as collateral.
Apply
You need to be at least 18 years, and you need to pass our credit assessment.
When you apply, we'll ask you for:
- the BSB and account number of your NAB everyday account, eg. NAB Classic Banking or NAB Gold Banking
- the value of assets you own, for example your home and/or car
- the amount you owe on your loans, credit cards or store cards
- your income and employment details.
How long does it take?
The online application form shouldn't take you more than 10 minutes.
We can usually let you know within two business days whether you've received conditional approval. After that we verify the information in your application and prepare the overdraft contract. This usually takes another 3-4 business days.
By the time you receive your contract, your overdraft is attached to your account and you can access the funds.
Rates and fees
See our current interest rates and comparison rates
Application fees
There's no application fee for overdrafts up to $40,000. For higher limits we charge an application fee based on the limit that we approve.
Line fees
For every six months you have your overdraft we charge an overdraft line fee, based on your overdraft's approved limit.
|
Limit
|
Fee for each whole six-month period
|
|---|---|
|
Up to $5,000 |
$35 |
|
$5,001 - $10,000
|
$70
|
|
$10,001 - $20,000
|
$80
|
|
$20,001 - $30,000
|
$140
|
|
$30,001 - $40,000
|
$190
|
|
$40,001 - $60,000
|
$290 each half year
|
|
$60,001 - $80,000
|
$400
|
|
$80,001 - $125,000
|
$500
|
|
Over $125,000
|
0.40% (min $500)
|
Personal banking guide to fees and charges
Interest rates
Interest on personal overdrafts is variable, meaning it can move up or down any time. We only charge interest on the amount of your overdraft that you actually use.
We calculate interest daily and charge it monthly.
The current interest rate is our base rate, plus 4 percentage points. The base rate is on our page of Indicator rates for other personal lending.
Call 13 13 12
Mon-Fri: 7am-9pm
Weekends: 8am-9pm
(AEST/AEDT)
