Benefits of a NAB Personal Loan

Our unsecured personal loans can provide flexibility and certainty.

No penalties, exit fees or surprise charges

No penalties or exit fees when you pay off your loan sooner. No surprise charges including no late payment fee.

Quick access to funds

If you’re approved and accept the loan, get your funds in one business day.

Ability to redraw extra funds

Redraw available on a variable rate loan if you’re ahead on repayments.

Quick online acceptance

Get your money faster with simple document acceptance through NAB Internet Banking.

Flexible borrowing limits

Borrow from as little as $5000 and up to $55000, depending on your needs.

1-7 year flexible loan term

Choose a loan term that suits your needs, with weekly, fortnightly or monthly repayment options.



Best Unsecured Personal Lender 3 years in a row
RFi Group’s Australian Lending Awards 2019, 2020, 2021

Compare personal loan rates and fees

Your interest rate is based on several factors including information you provide in your application, your credit history and information we already have about you if you’re an existing customer.

After you submit your application, if you’re conditionally approved, we’ll give you an indicative interest rate. This is subject to verification of the information you give us in your application. We’ll provide your final interest rate in the loan documentation, at which point you can decide to accept the loan offer.

Loan type Interest rate Comparison rate
Variable rate loan
Interest rate
From 6.99%p.a. to 18.99% p.a.
Comparison rate
From 7.91% p.a. to 19.83% p.a.
Fixed rate loan
Interest rate
From 6.99% p.a. to 18.99% p.a.
Comparison rate
From 7.91% p.a. to 19.83% p.a.
Personal loans interest rates
Fees  
Application fee
One-off payment when loan is established
$150
Monthly fee $10
Exit fee $0
Late payment fee $0

Example repayments

Here are some examples of what your repayments could be on a fixed or variable rate loan with a five year term.

Loan amount Fortnightly repayments at 6.99% (comparison rate 7.91% ) Fortnightly repayments at 12.69% (comparison rate 13.56% ) Fortnightly repayments at 18.99%(comparison rate 19.83% )
$5,000
Fortnightly repayments at 6.99% (comparison rate 7.91% )
$46
Fortnightly repayments at 12.69% (comparison rate 13.56% )
$53
Fortnightly repayments at 18.99%(comparison rate 19.83% )
$61
$15,000
Fortnightly repayments at 6.99% (comparison rate 7.91% )
$139
Fortnightly repayments at 12.69% (comparison rate 13.56% )
$159
Fortnightly repayments at 18.99%(comparison rate 19.83% )
$182
$20,000
Fortnightly repayments at 6.99% (comparison rate 7.91% )
$186
Fortnightly repayments at 12.69% (comparison rate 13.56% )
$211
Fortnightly repayments at 18.99%(comparison rate 19.83% )
$242
$35,000
Fortnightly repayments at 6.99% (comparison rate 7.91% )
$325
Fortnightly repayments at 12.69% (comparison rate 13.56% )
$370
Fortnightly repayments at 18.99%(comparison rate 19.83% )
$424

You can also use our personal loans repayment calculator to work out what your repayments could be with an interest rate of 12.69% p.a. (comparison rate 13.56% ).

Our interest rates explained

Understanding the different types of interest rates will help you make an informed choice.

  • fixed rate stays the same for the life of the loan, so your loan repayments will also stay the same.

    variable rate can go either up or down over the life of the loan – this means your minimum repayment may change. A variable rate loan also gives you access to a redraw facility, so if you need money unexpectedly you can redraw extra funds you’ve paid.

  • comparison rate is used to help you identify the true cost of the loan, including the interest and some fees and charges. This makes it easier to compare the overall cost of different loans.

    When you read comparison rates, take note of the loan amount and term that they are based on. These affect the comparison rate and you want to be comparing apples with apples.

  • If you have an excellent credit history, you may be offered a rate at the lower end of our range. For example, from 6.99% p.a. on variable or fixed rate loans (comparison rate 7.91% p.a.).

    An excellent credit history can mean you haven’t opened many new lending products or increased your credit limits too often.

    If you have credit accounts such as a credit card, personal loan or home loan and have made repayments on time, this will also positively affect your credit rating.

  • If your credit history isn’t long or as good, you’ll likely be offered a rate around 12.69% p.a. or higher on variable or fixed rate loans.

    Find out more about credit-worthiness and how to improve your credit score. 

What is a personal loan?

Personal loans allow you to borrow a set amount of money to pay for something or consolidate debts. The amount you borrow must then be repaid in instalments, plus any interest or fees, over an agreed term.

Personal loans are commonly used to fund home renovations, travel, and big purchases like buying a boat, car or motorbike. Personal loans can also help fund a dream wedding day. When it comes to debt consolidation, a personal loan can be used to combine credit card debts and outstanding loans in one spot to help you manage repayments and take control of your finances.

How do unsecured personal loans work?

An unsecured personal loan means we don’t need any property or collateral to allow you to borrow. This is different from a secured loan, like a mortgage or secured car loan, where you use your home or car as security to borrow against. 

Reasons to apply for a personal loan

A personal loan can be used for a wide variety of reasons: a car, a home renovation or a special event. What are you looking for?

Help and support

We have guides and other resources to help you apply for a new personal loan or manage your existing one.

Other ways we can help

Use our help guides, FAQs and other support services to help you manage your banking more easily.

Contact us

Visit a NAB branch

If you have any questions or are unable to apply online, visit us in branch – we’ll be happy to help.

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