NAB offers unsecured personal loans with fixed or variable interest rates, and unsecured car loans. The interest rates can vary between 8.49% and 20.49% p.a. If you have an excellent credit history, you may be offered a lower rate. For average credit applicants, rates can be as high as or more. There is also an establishment fee of $250, and a monthly fee of $10. Your loan term will range from 1 to 7 years .
The personal loans from NAB can be used for a variety of purposes. Below are some of the main types of personal loans that you can take advantage of from NAB:
Based on NAB personal loan scores in Finder's 2024 Customer Satisfaction Awards.
It is very easy to apply for a NAB personal loan – just click "Go to Site" to get started. Before you start, make sure you meet the following eligibility criteria:
To apply for a NAB personal loan, make sure you have the following on hand to complete the application:
It takes 20 minutes or less to submit an online form, but if you're an existing NAB customer you can apply through Internet banking. While NAB offers a competitive range of personal loan products, it's best to compare the options you have available to you before submitting your application.
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Sarah February 15, 2024 FinderHi Mike, Yes this can be possible. To do this you refinance your current home loan (say $500,000) into a new loan worth more (say $525,000) and you can use the extra $25,000 towards a car, a holiday or renovations. Your ability to do this depends on a few things: how much your property asset is worth, how much income you earn and whether you can afford the new higher repayments. This can be a good way to pay a lower interest rate (a home loan interest rate is lower than a car loan rate), but you will be paying it off over a longer period of time, which means you can pay more over the long term. One way to reduce the interest is to make extra repayments. You can review some options for refinancing here. Hope this helps!
Mary March 15, 2023Hi there, my partner using my NAB account to put his salary. He wants to apply for a home loan, can he use my bank account?
Finder
Sarah March 15, 2023 FinderHi Mary Jane, To apply for a home loan, your boyfriend will need to verify his income. They’ll usually request evidence in the form of pay slips, bank statements and potentially tax records. Supplying your bank statements should be fine, as long as the bank can verify that the income relates to his employment and correlates to his payslips. Hope this helps!
Brad July 12, 2018If I own my own business, and it’s been dormant for long enough to make my ABN need renewing, and registration again, and I have guaranteed work with it, but also my car was struck recently and I need a ute to run the business, will anyone give me finance while I’m on a pension? .
May July 23, 2018 FinderHi Brad, Thank you for your inquiry. We appreciate your patience. Is this pension you’re receiving a Centrelink pension? If so, yes, there are lenders who might offer you a business loan while on a pension from Centrelink. You can find helpful tips and guidance from our Centrelink business loans page on how to apply and from which lender. When you’ve chosen a lender already, best to contact them directly so you can discuss your eligibility or options. When you are ready, you may then click on the “Go to site” button if available and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have. Hope this helps. Cheers,
May
Hi John, Thank you for getting in touch with finder. As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice. As long as you meet the eligibility criteria while applying for a NAB personal loan then you have the chance to be accepted. In this page just click “Go to Site” to get started. The application requirements for a NAB personal loan are: – Be at least 18 years old
– Be an Australian citizen or permanent resident of Australia
– Earn a regular income or wage
– Be able to afford the loan repayments To apply for a NAB personal loan, make sure you have the following on hand to complete the application: – Income and employment details
– Details of your assets, debts and liabilities
– If you’re self-employed, you’ll need a personal income tax return and your most recent notice of assessment
– If your business runs as a partnership, company or trust, you’ll need a partnership, company or trust tax return I hope this helps. Have a great day! Cheers,
Jeni
if i dnt have an NAB acc,but 1 wit ANZ can i still apply for overdraft/credit card wit NAB? How long will it take 2 process/approved or not?
Finder
Elizabeth September 29, 2016 FinderHi Shireen, You’ll need to open a transaction account with NAB if you want an overdraft, but you can also send a NAB credit card application without holding any other product. NAB can get a new credit card to you in 5-7 days after you’ve been approved. Thanks, Elizabeth
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