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

Looking for a debt consolidation loan? Benefits of a personal loan

Our unsecured personal loans can provide flexibility and certainty.

No penalties or exit fees

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

No surprise charges

No surprise charges including no late payment fees.

Tailored pricing

Personalised rates start from 6.99% p.a. to 18.99% p.a. (comparison rate 7.91% p.a. to 19.83% p.a. ).

Ability to redraw extra funds

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

Flexible borrowing limits and loan terms

Borrow from $5,000 and up to $55,000. Choose a loan term to suit your needs from 1-7 years, with weekly, fortnightly or monthly repayment options.

Quick access to funds

Get your money faster with simple document acceptance using internet banking and if you’re approved and accept the loan, get your funds in one business day.

Why you might need 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 some cash by reducing the amount of your regular 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.

You can read more about consolidating your debts with a loan if you’re not sure a debt consolidation loan is right for you.

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

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.

Personal loan interest rates

  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 loan fees

Personal loans interest rates
Application fee
One-off payment when loan is established
$150
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

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. (comparison rate 13.56% p.a. )  or higher on variable or fixed rate loans.

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

Ready to apply?

Apply online and get a response in 60 seconds.

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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