Best Unsecured Personal Lender 3 years in a row

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

Benefits of a NAB Personal Loan

No penalties, exit fees or surprise charges

No penalties when you make early repayments, no exit fees when you pay off your loan sooner and no surprise charges including no late payment fee.

Get funds in one business day

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

Personalised rates

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, giving you flexibility if you need extra funds. 

Borrow from $5,000

You can borrow from $5,000 and up to $55,000, for a variety of loan purposes.

One to seven years flexible loan term

With weekly, fortnightly or monthly repayment options. 

Offer

Make it happen with up to 110,000 Qantas Points

Earn two Qantas Points for each dollar of your approved NAB Personal Loan amount when you borrow  between $5,000 and up to $55,000. 

To be eligible for the offer, you must:

  • be a member of the Qantas Frequent Flyer Program (if you're not already a member you can join for free, opens in new window)

  • apply online as a sole borrower for a new NAB Personal Loan between 15 July 2022 12.01am (AEST) and 15 January 2023 11.59pm (AEDT) through this page

  • be approved and drawdown the full loan amount within 90 days of the contract offer date or by 15 April 2023, whichever is earlier

  • register online with Qantas, opens in new window within 30 days of drawdown by providing Qantas your NAB reference number (your NAB reference number will be emailed to you within 10 days after you drawdown)

  • keep your NAB Personal Loan open until you receive your eligible Qantas Points in your Qantas Frequent Flyer membership account (this could take up to eight weeks from your Qantas registration). 

For the loan purpose of debt consolidation or refinance, to ensure this product meets your needs and objectives, please visit your nearest NAB branch if you intend to use the funds:

  • to free up some cash by reducing the amount of regular debt repayments:
  • to take advantage of a good deal with our lower rate and/or fees.

You will still be eligible for this offer if you apply in branch for this loan purpose.

See important information for full eligibility criteria .

Compare personal loan rates and fees

  1. 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.

  2. 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.

  3. 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

Example repayments

Here are some examples of what your repayments could be on a fixed or variable rate loan with a five-year term.

  Fortnightly repayments at 6.99% p.a. (comparison rate 7.91% p.a. )
Fortnightly repayments at 12.69% p.a. (comparison rate 13.561% p.a. ) Fortnightly repayments at 18.99% p.a. (comparison rate 19.83% p.a. )
Loan amount of $5,000
Fortnightly repayments at 6.99% p.a. (comparison rate 7.91% p.a. )
$46
Fortnightly repayments at 12.69% p.a. (comparison rate 13.561% p.a. )
$53
Fortnightly repayments at 18.99% p.a. (comparison rate 19.83% p.a. )
$61
Loan amount of $15,000
Fortnightly repayments at 6.99% p.a. (comparison rate 7.91% p.a. )
$139
Fortnightly repayments at 12.69% p.a. (comparison rate 13.561% p.a. )
$159
Fortnightly repayments at 18.99% p.a. (comparison rate 19.83% p.a. )
$182
Loan amount of $20,000
Fortnightly repayments at 6.99% p.a. (comparison rate 7.91% p.a. )
$186
Fortnightly repayments at 12.69% p.a. (comparison rate 13.561% p.a. )
$211
Fortnightly repayments at 18.99% p.a. (comparison rate 19.83% p.a. )
$242
Loan amount of $35,000
Fortnightly repayments at 6.99% p.a. (comparison rate 7.91% p.a. )
$325
Fortnightly repayments at 12.69% p.a. (comparison rate 13.561% p.a. )
$370
Fortnightly repayments at 18.99% p.a. (comparison rate 19.83% p.a. )
$424
Apply online

What you’ll need to apply online

Here’s what you need to know about applying and eligibility.

Exclusions apply, see important information.

Check your eligibility

To qualify for this offer you must:

  1. Be a member of the Qantas Frequent Flyer program

  2. Apply online during the offer period 

  3. Be approved and drawdown within 90 days of the contract date or by 15 April 2023, whichever is earlier

  4. Register with Qantas within 30 days of drawing down

  5. Keep your NAB Personal Loan open until you receive your Qantas Points

Identify yourself

You’ll need to have the following information ready:

  • employment details for the past three years
  • financial information (income, assets, debts and expenses)
  • proof of income (such as payslips or bank statements)

Apply online

To apply online, you must:

  • be 18 years or older

  • apply on your own

  • receive a regular income

  • be an Australian resident for tax purposes

  • be an Australian or New Zealand citizen, Australian Permanent Resident or non-resident with an acceptable Temporary Residency Visa. 

Read important information for visa categories that are not acceptable .

  • If you’re an existing customer, you can:

    • save time and use your NAB ID to prefill your personal and financial information (this may include debts you have with other financial institutions)
    • save the progress of your online application by clicking Save and continue (you have 30 days to return and complete your application). However, you must submit your application by 15 January 2023 to be eligible for the offer
    • speed up your application by uploading your proof of income documents in the application form.

    You can find your NAB ID on the back of your NAB card or in your NAB app under My Details.

    To resume your application, make sure you have your NAB ID and mobile phone with you.

    We may ask to verify your income. You may not be required to provide any documents as part of the application process. NAB will only ask you for documents if we can’t verify your information.

  • If you’re a new customer, you’ll need to provide at least one form of ID in the online application form:

    • Australian driver’s licence
    • Medicare card
    • Australian passport
    • International passport

    If you prefer to visit a NAB branch to verify your identify, make sure you have the right combination of acceptable documentation.

    You may be asked to provide recent financial documents (such as payslips or bank statements) when applying. Learn what documents we need to verify your income. You can speed up your application by having these ready.

Ready to apply?

Apply online and get an instant response.

Understanding if a personal loan is right for you

A personal loan allows you to borrow funds for one-off personal and household purchases or debt consolidation. This comes in an upfront lump sum.

A credit card is useful for daily expenses, monthly bills or small purchases. You’ll be given a specific limit that you can spend up to with a credit card.

Learn more about choosing between a credit card or personal loan to find the credit product best suited to your needs.

What a personal loan may be ideal for

  • Large personal or household expenses

  • Vehicles (new or used)

  • Travel

  • Home renovation

  • Major cosmetic, medical or dental expenses

For the loan purpose of debt consolidation or refinance, to ensure this product meets your needs and objectives, please visit your nearest NAB branch if you intend to use the funds:

  • to free up some cash by reducing the amount of regular debt repayments
  • to take advantage of a good deal with our lower rate and/or fees.

What you can’t use a personal loan for

  • Illegal activites

  • Business purposes. Explore our business loans or discuss further with your business banker

  • Lender's Mortgage Insurance (LMI)

  • Home loan deposit

It’s important that you’re able to comfortably make repayments. When evaluating your ability to repay the amount you asked to borrow, we’ll review your creditworthiness and take steps to ensure you’re not approved for a loan amount outside your means.

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 7.91% p.a.  on variable or fixed rate loans (comparison rate 19.83% 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.

Find out more about this offer

Learn more about how this NAB Personal Loan Qantas Points offer works. 

How many Qantas Points will I receive?

You could earn two Qantas Points for each dollar you borrow of your approved NAB Personal Loan amount when you borrow between $5,000 and $55,000.     

For example, if you borrow $30,000, you’ll receive 60,000 Qantas Points, if you meet all eligibility requirements, terms and conditions.

How long will it take for my Qantas Points to be credited?

Qantas will allocate your points to your Qantas Frequent Flyer membership account within eight weeks following registration.

Help and support

Find out more about personal loans.

Terms and Conditions

Personal Banking Fees and charges

Credit contract - General terms for personal loans

Indicator rates for other personal lending

National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB) is the credit provider and credit licensee under National Consumer Credit laws. NAB pays Qantas for Qantas Points issued in relation to these personal loans.