Want to experience all student life has to offer without money worries holding you back?
A Tertiary Student Package Deferred Repayment Loan lets you borrow what you need now so you can pay for fees, books, a computer or a car. The best part is, don't need to start repaying the loan until your studies are over.
This loan is available to full-time tertiary students at University, TAFE, Agricultural College or Registered Training Organisations.
Loan amount
Borrow from $500 up to $20,000.
Multiple access to funds
You can withdraw a minimum of $500 at a time, with no fees.
Repayments can be deferred for up to 5 years, until you start full-time employment or within three months of finishing your course, whichever is earlier.
Loan term
At the expiry of your deferral period your loan term is 3 years.
Fees
Nil - There is no application fee or monthly service fee on this loan.
Security required
Depending on your circumstances, you may be required to provide a consumer guarantee.
You can apply online by completing a pre-application, or drop into any NAB branch. If you have any questions, please call us on 13 13 12 from 8am to 9pm EST, 7 days a week. Hearing impaired customers with telephone typewriters can contact us on 13 36 77 from 8am to 8pm EST, Monday to Friday. When you apply, you'll need:
Identification to satisfy an AUSTRAC 100 point test (if you are a new customer)
Your driver's licence details
The value of your home and car, if applicable, and any other assets
The amount owing on your loans, credit cards or store cards
Your income and employment details
Documentary evidence of enrolment
Terms and Conditions available on application. Fees and charges are payable. Normal lending criteria apply.
Repayments begin three months after you complete your full-time study. Interest accrues from the date of drawdown.
