As many of our customers deal with the growing challenges of COVID-19 (Coronavirus), our priority is clear: to support you in any way we can. Please see below the options we have available to assist you with your personal loan.

Are you Ahead of your personal loan repayments?

If you’re ahead on your personal loan repayments, then you might be able to reduce your current repayments or use your redraw to get access to additional money. For customers wanting to apply to reduce their minimum payment to $100 per month, please call 1300 683 106.

Reducing your personal loan repayment

To make it easier to manage your personal loan, customers can apply for a reduction in their personal loan repayment for up to six months.

To do this, please call 1300 683 106 to discuss your options.

NAB reserves the right to vary or end the repayment reduction support offer at any time.

How a repayment reduction works

  • Customers can apply to reduce their loan repayments to $100 per month for up to six months by calling 1300 683 106. We’ll get in touch with you before the end of the repayment reduction period to discuss your options.
  • Depending on your current repayment frequency, we’ll reduce your repayment amount to $25 weekly, $50 fortnightly or $100 monthly.
  • Repayments will be adjusted depending on whether the loan has loan funded insurance:
    • a loan without insurance will adjust to $25 weekly, $50 fortnightly or $100 monthly
    • a loan with loan funded insurance will adjust to $25 weekly, $50 fortnightly or $100 monthly plus the amount required to cover the monthly insurance premium.
  • During a reduced repayment period, interest on your loan continues to be calculated and accrues in accordance with your loan contract.

Further support

Please call NAB Customer Care on 1300 683 106 between Monday to Friday 8am-8pm or Saturday 9am-1pm (AEST/AEDT) if you wish to discuss:

  • where you have more than one NAB Personal Loan account and want to reduce repayments for some but not all your accounts
  • if you need to reduce your repayments for more than six months or are unable to pay the reduced repayment
  • if you require hardship assistance and additional support, you can submit a request for support online with our specialist team.

Please note:

After the reduced repayment period ends, you’ll be required to bring your account up to date over the remaining term of the loan. This will result in repayments being adjusted (i.e. the amount required may be higher than current repayments and will incur a higher amount of interest over the life of the loan).

FAQ’s for personal loan customers

How do I check my minimum repayment in the NAB app?

  1. Log into the NAB app and
  2. Select your personal loan from your account list.
  3. Tap the Options menu in the top right-hand corner and select View account details.
  4. Under Repayments, you'll see your contracted minimum repayment amount.

Can I change my repayments in the NAB app or through NAB Internet Banking?

If you have an existing recurring transfer set up from a NAB account, you can change your repayment in the NAB app.

iOS devices:

  1. Log into the NAB app.
  2. Select your personal loan and click the Scheduled tab.
  3. Tap the scheduled payment you’d like to change.
  4. At the bottom, tap Modify payment and follow the steps to change repayments.

Android devices:

  1. Log into the NAB app.
  2. Click on My Payments and select the payment you wish to change.
  3. Click on Modify Payment and follow the steps to change repayments

If you have set up a Direct Debit repayment, you can request to amend this repayment via:

  • Secure message in NAB Internet Banking.
  • Live chat in NAB Internet Banking (between 7am -9pm AEST).
  • Calling us on 13 22 65.*

*We’re experiencing high call volumes, so making changes in the NAB app or NAB Internet Banking is the easiest way to save you unnecessary wait times.

How do I check if I’m ahead on my repayments for redraw?

If you have a variable rate personal loan and you’re currently ahead of your repayments, you can access your redraw balance through the NAB app.

1. Log into the NAB app

2. Select your personal loan from your account list.

3. If redraw is available, you can view Available redraw on the banner screen - this is the amount that you can redraw.

4. Tap the Redraw button on the top right, then follow the steps.

I have Personal Loan Cover. Where I can find more information about the loan cover and claim process?

If you believe that you have Personal Loan Cover on your personal loan and you’ve become disabled, critically ill or involuntarily unemployed - you can phone MLC Limited to discuss making a claim on 1300 125 246.

Any advice contained is general only and does not take into account your needs or personal circumstances. Please refer to the relevant PDS or disclosure document and consider your own situation before making a decision.

Note: Remember to check in with your insurers – you might have cover in your super fund, for example, that could provide support if you’ve lost your job, or if you’re ill / injured and unable to work.

Will there be further relief options for personal loans?

We’re here to help you. If you don’t think you can make your minimum monthly personal loan payment and require additional support, then the NAB Customer Care team can help. Submit our hardship form and we’ll be in touch. Or you can call on 1300 683 106 to discuss your options. We’re experiencing high call volumes, so the Hardship form is the easiest way to get in touch with us to save you unnecessary wait times.

How we're supporting you

As we all come to terms with the growing challenges of the COVID-19 (Coronavirus), our focus is clear, to support you with your banking needs, in any way we can.

A couple looking at each other

COVID-19 support for home owners

Read about the type of support we’re offering home owners during COVID-19.
A mother with her child

COVID-19 support for credit card customers

Read about the support we’re offering our credit card customers.
Friends looking at documents

Guidance during COVID-19

Read how to bank with us and stay safe and avoid COVID-19.

Important information

Information is correct as at 1 April 2020 and is subject to change. Applications for credit are subject to NAB’s credit approval criteria. Terms and Conditions apply to all NAB products and are available at, on application or by calling us. Fees and charges are payable. National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB).