Best Unsecured Personal Lender 3 years in a row

RFi Group’s Australian Lending Awards 2019, 2020, 2021

Benefits of a NAB Personal Loan

Our unsecured personal loans can provide flexibility and certainty.

No penalties or exit fees

No penalties when you make early repayments or exit fees when you pay off your loan sooner.

No surprise charges

No surprise charges including no late payment fees.

Personalised rates

From 6.99% p.a. to 20.49% p.a. (comparison rate 8.05% p.a. to 21.49% p.a. ).

Ability to redraw extra funds

Redraw is available on a variable rate loan if you’re ahead on repayments, giving you flexibility if you need money unexpectedly.

Consolidate up to $55,000

You can borrow from $5,000 and up to $55,000 for debt consolidation.

One to seven years flexible loan term

Choose from one to seven years, with weekly, fortnightly or monthly repayment options.

Reasons for a personal loan for debt consolidation

If you’re paying off more than one debt it can be stressful and hard to manage. A debt consolidation loan may:

  • simplify your commitments with a single repayment – meaning you’ll have a better idea of when you’ll be debt free

  • free up cash by reducing debt repayments

  • allow you to take advantage of a good deal with lower rates or fees

  • remove the stress of having to manage multiple payments with multiple providers.

You can use our debt consolidation calculator to see how combining your existing debts (not including any home loan debt) into a single loan could you give more certainty and control.

Learn more about how a debt consolidation loan works and the benefits of consolidating your debt.

Personal loan calculators

Before you apply, see what you can afford to borrow and repay with our helpful calculators.

Compare personal loan rates and fees

We offer a range of rates on our personal loans. The interest rate you are offered is based on your personal circumstances. We decide your rate based on:

  • your banking history with NAB
  • information you provide in your application, including income, assets, debts and expenses
  • your credit history report including your credit score.

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

After you submit your application, we’ll give you an indicative interest rate if you’re conditionally approved. This is subject to verification of the information you give us in your application.

Once we’ve verified your information, we’ll give you the loan documentation setting out your interest rate and other important information. Keep in mind that the rate shown in the loan documentation is subject to change and may be different on the day of settlement.

Personal loan interest rates

  Interest rate Comparison rate
Variable rate loan
Interest rate
From 6.99% p.a. to 20.49% p.a.
Comparison rate
From 8.05% p.a. to 21.49% p.a.
Fixed rate loan
Interest rate
From 6.99% p.a. to 20.49% p.a.
Comparison rate
From 8.05% p.a. to 21.49% p.a.

Personal loan fees

Personal loans interest rates
Application fee
One-off payment when loan is established
Monthly fee $10
Exit fee $0
Late payment fee $0

Personal loan for debt consolidation

Personal loan for debt consolidation

Personal loan for debt consolidation

Personal loan for debt consolidation

Ready to apply for debt consolidation?

Apply online and get an instant response.

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.

Other options to consider

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.

Get in touch

Visit a NAB branch

Visit your nearest NAB branch to speak to us in person.

Terms and Conditions

Terms and conditions and fees and charges apply. Approval and loan amount are subject to our credit assessment criteria. Information, including fees are subject to change. See our general terms for personal loans, personal banking fees and charges and indicator rates for other personal lending.

Target Market Determinations for these products are available at