How we work out your interest rate
We offer a range of rates on our personal loans. The interest rate you are offered is based on your personal circumstances. If you’re a NAB customer we will consider your history with us too.
We decide your rate based on:
- information you provide in your application, including income, assets, debts and expenses
- your credit history report
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.
Our best rates
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 cards, personal loans or home loans and have made repayments on time, this will also positively affect your credit rating.
Our average rates
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.