Benefits of a NAB Personal Loan

  • No penalties when you make early repayments. 

  • No exit fees when you pay off your loan sooner.

  • If you’re approved and accept our loan offer through NAB Internet Banking, your money will be ready in one business day.

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

How to apply


To apply online, you need to be:

  • 18 years or older

  • applying as a sole applicant. You’ll have all the repayment obligations, even if someone else will be receiving a substantial benefit from the loan.

  • receiving a regular income

  • an Australian resident for tax purposes, an Australian or New Zealand citizen, Australian Permanent Resident or non-resident holding an acceptable Temporary Residency Visa.

Documents you need

You’ll need to provide us with:

  • your driver’s licence number (if you have one)

  • your employment details for the past three years

  • your financial information, including your income, assets, debts and expenses.

    If you’re an existing customer, you’ll also need your NAB ID.

Apply online

You’ll need to provide us with:

  1. Submit your application and if you're conditionally approved we'll let you know in under 60 seconds.

  2. We’ll verify the information you gave us (which may include contacting you for more information).

  3. Receive your loan offer and accept it.

Our interest rates explained

We offer a range of rates on our personal loans from 8.49% p.a. to 20.49% p.a.  (comparison rate 9.54% p.a. to 21.49% p.a. ). The interest rate you’re 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.

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.

  • 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.

Looking for another calculator?

Estimate what you can afford to borrow or see what your repayments could be if you consolidated your debt.

Terms and Conditions

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 loanspersonal banking fees and charges and indicator rates for other personal lending.