Home renovation loan | Personal loans to fund home improvements - NAB
Why renovate with a NAB Personal Loan?
A NAB Personal Loan can make funding your renovation simple and stress-free, whether it’s a small upgrade or a big refresh.
Preserve your equity
Improve your home without touching your equity – no property security required.
Fast access to funds
Apply online and if approved, get your money as soon as one business day after you accept your offer, so you can start your upgrades sooner.
Get ahead with no exit fees
Keep control of your money and face no exit fees or late payment fees, so you can focus on improving your home.
Is a personal loan the right way to renovate?
Ideal for:
Not suitable for:
Compare your loan options
| Personal loan for renovations | Home loan | |
|---|---|---|
| Use it for | Personal loan for renovations Fast funding for small projects, like bathroom renovations or a pool, without touching your equity | Home loan Bigger renovations and longer-term projects, like extensions and structural changes, using your home loan equity to potentially get lower interest rates |
| Borrowing amount | Personal loan for renovations From $5,000 to $55,000 | Home loan Minimum $20,000 with no maximum (subject to standard assessment) |
| Security | Personal loan for renovations No security required | Home loan Secured against home |
| Application | Personal loan for renovations Online, with banker assistance if you need it | Home loan Online or in person, assisted by a banker |
| Timing | Personal loan for renovations Funds deposited one business day after you accept the loan offer | Home loan Depends on a variety of factors – speak to your lender to get an estimate of how long it might take for you |
| Impact on home equity | Personal loan for renovations None | Home loan Uses the equity you have in your home |
| Available for construction needs | Personal loan for renovations No | Home loan Yes |
Special personal loan rates for home loan customers
If you have a NAB Home Loan, NAB FlexiPlus Mortgage, or NAB Portfolio Facility, get special rates on unsecured personal loans. Access rates from 7.50% p.a. to 12.99% p.a. (comparison rates 8.54% p.a. to 13.96% p.a.).
Subject to credit approval and eligibility criteria. Terms, conditions, fees and charges apply.
All our personal loans include:
Fees
- $0 exit fee
- $0 late payment fee
- $15 monthly fee
- $0 application fee
$250 application fee waiver valid for applications started from 5 May 2026 to 30 July 2026.
Features
Choose between fixed or variable rate options
Variable rate personal loan
Your interest rate may change, meaning your repayments can go up or down over the life of the loan. You also have the option to redraw funds if you're ahead on your loan.
| Interest rate | From 7.50% p.a to 22.00% p.a. |
|---|---|
| Comparison rate | From 8.54% p.a to 22.88% p.a. |
Fixed rate personal loan
Your interest rate doesn't change, so your repayments stay the same for the whole loan term. Fixed rate loans don't have the option to redraw extra funds.
| Interest rate | From 7.50% p.a to 22.00% p.a. |
|---|---|
| Comparison rate | From 8.54% p.a to 22.88% p.a. |
How we calculate your rate
The rate we offer you will be based on your banking history with NAB, information provided in your application and your credit history report. This rate could change and is subject to verification of the information you provide and may be different on the day of settlement. Find out more about creditworthiness and how to improve your credit score.
The application process
Step 1
Plan your finances
Use our simple personal loan repayment calculator to work out your repayments and compare loan terms, so that you can fully understand how to budget for your project.
Step 2
Apply online
Gather your required documentation and apply for a variable or fixed rate personal loan.
If approved, we give you a personalised rate based on the information in your application.
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To apply online, you need to be:
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You’ll need to provide us with:
If you’re an existing customer, you’ll also need your NAB ID.
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Reach out to NAB to find out why your application was declined. We offer free, confidential financial assistance to help you understand your situation and explore alternatives, and contacting us won’t affect your credit score.
Planning a larger construction project?
A NAB personal loan may not be suitable for extensions, construction or major structural renovations, but we do have other options to support you. Find out more about construction loans with NAB.
Frequently asked questions
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Yes, your credit score will be impacted once you submit your loan application.
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We show a range of possible rates because everyone’s personal loan rate is different. Your rate depends on things like your banking history with NAB, income, expenses, debts and credit history. Your final rate will be based on your own financial situation.
When you apply, we look at your application and, if you’re conditionally approved, we’ll provide an estimated interest rate before you decide to continue. Once your information is checked, your final rate will be confirmed in your loan documents. Keep in mind that the rate shown in the loan documentation is subject to change and may be different on the day of settlement.
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Yes, you can put the funds towards projects that are over $55,000, but you’ll need other sources to fund the rest of the project. A NAB Personal Loan can help with completing smaller projects you want to get done sooner.
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No, NAB Personal Loans are unsecured, so they won’t impact your home equity or be added to your current home loan.
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Yes, a NAB Personal Loan can be used for do-it-yourself (DIY) projects, provided they aren’t major construction projects. Before applying, consider all costs involved in the renovation and use our borrowing power calculator to help determine what you can borrow for the project.
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Yes, a NAB Personal Loan can be a great option for solar panels and other energy-efficient home upgrades. Learn more about using a personal loan for energy efficient purchases.
Get in touch
Visit a NAB branch
Visit your nearest NAB branch to speak to us in person.
Terms and Conditions
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Consider the NAB Internet Banking Terms and Conditions which apply when using NAB Internet Banking.
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 nab.com.au/TMD.