NAB Personal Loan

• Choose a variable or fixed interest rate.
• Loan terms of 1-7 years.
• Apply for as much as $80,000 or as little as $5,000. If you're looking for a smaller amount a NAB credit card might suit you.
• Weekly, fortnightly or monthly repayments.
• Make extra repayments without any fees. You can even pay your whole loan early without any extra fees or charges.
• Redraw from your variable rate loan (if you're ahead of your repayment schedule – see the "Redraw" tab for details).

Know your loan amount before you shop

We offer conditional approval, so you know how much you can borrow. This lets you set your shopping budget with confidence.

See our current interest rates and comparison rates

Our personal loan interest rates are tiered, which means that loans of larger amounts have lower interest rates.

Fixed or variable interest?

You have the choice of a fixed or variable interest rate.

A fixed interest rate doesn't change. It gives you certainty about your interest charges and repayment amounts. You can't redraw from a fixed rate loan.

A variable interest rate is more flexible. It can change over time, which means that your interest charges and repayments might move up or down. Variable rate loans allow you to redraw (if you're ahead of your repayment schedule).

• Application fee: $150 (See special offer)
• Monthly fee: $10
• There are no fees for extra repayments, or for paying your loan out early

Personal banking guide to fees and charges

Terms

To get a NAB Personal Loan you need to satisfy our normal lending criteria.

Remember that, as with any debt, you'll have to repay your NAB Personal Loan. Before you apply use our loan calculator to check that you'll be able to manage your repayments.

Personal Loan Agreement General Terms (PDF, 355KB)

Redraw is only available on variable rate NAB Personal Loans. You need to be ahead of your repayment schedule to have redraw funds available.

You can redraw through NAB Internet Banking, through NAB Telephone Banking, or at any NAB branch. Your redraw has to be transferred to your NAB transaction account.

Redraw isn't available on fixed rate loans, secured loans, or any loans that are backed by a guarantor.

Limits

The smallest amount you can redraw is $500. The maximum amount is $15,000.