Here's what you get...

  • Flexibility to spend more money than you have in your NAB transaction account

  • Withdraw your overdraft funds at an ATM or use them to make a purchase using your NAB Visa Debit card or NAB Platinum Visa Debit card

  • Transfer your overdraft funds to another account via NAB Internet Banking, the NAB app or NAB Telephone Banking

  • No set repayments – you’ll only pay interest on the funds you use

Ready to roll? Here's what you need…

  • You’ll need to be at least 18 years of age

  • Have your NAB BSB and account number handy – your NAB Personal Overdraft will be linked to your NAB Classic Banking or NAB Retirement Account, whichever one you have

  • You'll also need to provide information on your job, income, living expenses, assets and liabilities

Okay, let's break it down...


Application fee


Overdraft line fee

View disclaimer 1

This is the minimum fee based on your approved limit, and you’ll be charged every six months

12.77 % p.a.

Current variable interest rate

Personal Overdraft interest rate

What to expect when you apply

  • Step 1

    Apply online now – it takes less than 10 minutes.

  • Step 2

    You’ll receive an email from us confirming we’ve received your application.

  • Step 3

    We'll then assess your application and verify all the information that you've provided.

  • Step 4

    Once it's approved, we'll send you your NAB Personal Overdraft contract to read over.

  • Step 5

    You're now good to start dipping into your overdraft when you need to.

Here's how Alex uses his personal overdraft...

He uses it to cover cashflow shortfalls

It's there to pay for everyday expenses – say, to pay for essentials like groceries and his rent, for instance. It also gives him peace of mind that he can quickly draw on additional funds if something unexpected arises.

Frequently asked questions

How does a NAB Personal Overdraft work?

Your NAB Personal Overdraft is linked to your NAB Classic Banking account or NAB Retirement Account. It lets you withdraw extra money up to an approved amount. In other words, it lets you go in and out of negative balance with your transaction account.

How is interest calculated?

Interest is only calculated when your end-of-day account balance is negative. This means you can go in and out of negative balance during the day and, provided that your end-of-day account balance is positive, you won’t get charged any interest.

What is an overdraft line fee and when will I get charged for it?

An Overdraft Line Fee is a fee you’ll be charged every six months – in March and September – to have the ability to access additional funds. In other words, even if you don’t use your agreed limit at all for the year, you will still be charged this fee.

Still have questions?

Okay, no worries. Give us a call on 13 22 65

Other options to consider

NAB Classic Banking account

Enjoy flexibility with your savings while still earning interest. Receive the fixed bonus margin for the first four months on your first new account for balances up to $20m.

NAB iSaver

Grow your savings faster with bonus interest for regular deposits and no withdrawals.

NAB Reward Saver

Earn competitive interest on your savings over a fixed term that suits you.

Closing your account

If you’d like to close your account please visit a NAB branch.

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