Benefits of a NAB Personal Loan

Make future plans happen now with our unsecured personal loans. You can buy a car or vehicle, travel, renovate the house, buy personal goods, consolidate debt and more.

1 - 7 year flexible loan term

Choose a loan term that suits your needs, with weekly, fortnightly or monthly repayment options.

Flexible borrowing limits

Borrow from as little as $5000 and up to $55000, depending on your needs.

No late or extra repayment fees

If you miss your repayments or make additional payments, we won't charge you any fees.

No exit fees

Paying off your loan early is something to be proud of, so we won’t surprise you with any exit fees.

Ability to redraw

If you’re ahead on your variable rate loan, you have the option to use a redraw facility to access extra funds.

Quick online acceptance

Get your money faster with simple document acceptance through NAB Internet Banking.


Make memories to last a lifetime

Earn two Qantas Points for each dollar of your approved NAB Personal Loan amount when you borrow anywhere from $5000 and up to $55000. This offer begins on 1 July 2021 12.01am (AEST) and ends 30 September 2021 11.59pm (AEST). 

To be eligible, you must be a Qantas Frequent Flyer member and have registered for the offer via email or the registration page (for the purposes of allocating the applicable Qantas Points). You’ll then need to apply online for a new NAB Personal Loan during the offer period, satisfy NAB’s lending criteria and drawdown on your approved loan.

See Important information for full eligibility criteria.

Interest 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.

Loan type 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 loans interest rates
Application fee
One-off payment when loan is established
Monthly fee $10
Exit fee $0
Late payment fee $0

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. or higher on variable or fixed rate loans.

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

Understanding if a personal loan is right for you

How do I know if a personal loan is a credit product best suited to my needs?

A personal loan allows you to borrow funds for one-off personal and household purchases or debt consolidation, whereas a credit card is useful for daily expenses, monthly bills or small purchases.

You’ll be given an upfront lump sum with a personal loan in contrast to 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.

How do I find out the right amount to apply for?

Use our borrowing power calculator to work out how much you can afford to borrow, and what your repayments will be based on your income and lifestyle.

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.

Learn more about creditworthiness and why it matters.

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 and have registered for the offer with Qantas

  2. Apply online for a new NAB Personal Loan during the offer period (1 July 2021 to 30 September 2021)

  3. Drawdown on your loan within 90 days of your letter of offer, if your NAB Personal Loan is approved.

Identify yourself

You need the following information:

  • Driver's licence, if you have one

  • Employment details for the past three years

  • Financial information - income, assets, debts and expenses

  • Your NAB ID if you're an existing NAB customer (located on the back of your NAB card or in your NAB app through My Details).

Apply online

To apply online, you must:

  • Be 18 years or older

  • Apply on your own

  • Receive a regular income

  • Be able to meet your minimum repayments

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

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

Find out more about this offer

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


How do I check if I’ve registered for the offer?

Make sure you’ve registered your interest with Qantas. Once completed, you’ll receive an email confirming your registration within 48 hours.

Qantas will share that registration information (full name, date of birth, contact number and email address) with us to facilitate the allocation of the applicable Qantas Points by Qantas.

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 six to eight weeks following drawdown. You’ll receive an email confirmation from Qantas once the points have been allocated.


How many Qantas Points will I receive?

You could earn two Qantas Points for each dollar of your approved NAB Personal Loan amount when you borrow anywhere from $5000 and up to $55000.     

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

What does ‘drawdown’ mean?

Your personal loan is drawn down when NAB deposits the approved loan amount into your nominated account and you can access the funds. Your personal loan must be borrowed in full at the one time within 90 days of the letter of offer.


Terms and Conditions