- If you are an existing customer and apply in- store by 2pm, you could walk away with your money that very same day3.
- If your application is approved, your money will be in your NAB account within two hours.
Rates and Fees
fixed rate (for new loans only)1
fixed comparison rate2
variable rate (for new loans only)1
variable comparison rate2
Benefits and Features of a personal loan for home renovations
Same day funds
Tailor your loan
- Borrow from $5,000 to $55,000 with loan terms from 1 to 7 years.
- Fixed or variable interest rate options.
- If you've made extra payments you can redraw them at any time (variable rate loans only).
Choose flexible repayment options
Quick document acceptance online
- We know your time is important, so to make it easy, you can accept your loan documents in NAB Internet Banking. No more waiting in a queue at a branch or printing and signing documents.
Before you apply
Getting same day funds
For the best chance of getting your funds on the same day, apply in Branch and bring these things along:
- The other applicant, if you're applying for a joint loan.
- Your latest payslip, if you're not paid into a NAB account.
- Your credit card or store card statements, if you're consolidating debt.
- Photo ID or a NAB card, if you already bank with us.
- 100 points of ID, if you’re new to NAB.
Self-employed? We’ll need to verify:
- Your most recent personal income tax return
- Your most recent notice of assessment
If your business runs as a partnership, company or trust we’ll also need the following documents:
- Partnership tax return
- Company tax return
- Trust tax return
You can email these documents to firstname.lastname@example.org.
Increasing your chances of approval
Here are some tips to improve your chances of being approved.
1. Check that you’re eligible to apply
You need to:
- Be 18 years or older.
- Be an Australian or New Zealand citizen, an Australian Permanent Resident or a non-resident holding an acceptable Temporary Residency Visa.4
- Receive a regular income.
2. Check how much you can borrow
Use our Borrowing Calculator to get an idea of how much you may be able to borrow.
3. Build a good account history with us
· Got a NAB account? Get your salary paid into the account to establish a transaction history.
· Avoid overdrawing your account to show you’re able to manage your finances effectively.
· New to NAB? Begin a banking relationship with us first. It’s easy. Open a transaction account and pay your salary into it to start your transaction history.
This won’t guarantee approval on your application but, it will help us understand your financial position better.
4. Set up a regular savings plan
Show you can afford to service a loan by saving a set amount regularly (every week or month). This shows us you’re more likely to manage making regular loan repayments too.
5. Understand your credit report
Your credit history may affect how much you can borrow as well as your chances of approval. Activity such as overdue bills, missed credit card payments, arrears or debt collection could be recorded at a credit reporting body.
For more information, check out:
After you apply
What happens next?
- We'll send you an email to confirm we've received your application.
- Your application will be assessed, and we'll let you know the outcome within three to five business days.
- If approved, you can accept your documents electronically via Internet Banking. You can also choose to visit your nearest branch to sign your documents there.
- When you've signed your documents, we'll deposit funds into your NAB transaction account.
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1Headline rates, interest rates and information current as at 25th of February 2019 and subject to change. Terms, conditions, fees, charges and lending criteria apply.
2Comparison rate calculated on unsecured loan amount of $30,000 over a term of 5 years based on monthly repayments.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
3Only available to existing customers. Complete applications (including all supporting documentation) must be submitted in store by 2pm Monday – Friday. Same day funds will be unavailable if your loan purpose is to refinance non –Nab debts or if NAB requires your application to be reviewed by a lending specialist. Speak to us to find out more.
4The following Visa categories are NOT acceptable: Visitor Visa (exception, a Special Category Visa - NZ Citizen is acceptable), Working Holiday, Student, Exchange/gap year, Transit/short stay/seasonal, and Bridging.