NAB car loans

3.7
Based on 84 NAB car loan product reviews.
Fact Checked
Last updated

About NAB car loans

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NAB Unsecured car loan review

Personal Loan

  • Variable
  • Unsecured
Interest rate from
8.49 % p.a.
to
20.49 % p.a.
Comparison rate from
9.88 % p.a.
to
21.78 % p.a.
Based on $30,000 over 5 years
Upfront fee
$250.00
No Partner link
  • Choose between a fixed or variable interest rate from 8.49% p.a. (9.54% p.a. comparison rate*)

  • No exit, early repayment, late payment, or loan default fees

  • Borrow $5,000 to $55,000, depending on your needs

  • Loan terms from 1 to 7 years.

  • $250 application fee

  • $10 monthly service fee

Our verdict

If you’re after a loan where you won’t have to put your new ride up as collateral, NAB’s unsecured car loan could be your pick. 

With your choice of a variable or fixed interest rate, starting at 8.49% p.a. (9.54% p.a. comparison rate*), this unsecured car loan is light on the fees other lenders typically charge. 

There are no exit or early repayment fees, meaning you won’t get penalised if you pay your car off faster, and there are no fees for making late payments or defaulting on your loan altogether. However, this could result in slightly stricter lending criteria being applied when your application is assessed. So, make sure your credit score is humming and you’re in a good financial position before applying! 

Other fees include a $10 monthly service fee and $250 application fee, paid when your loan is established. 

Minimum loan amounts start at just $5,000 but you can borrow up to $55,000, depending on your needs. For added flexibility, you can choose a loan term from 1 to 7 years.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more car loans here.
Last updated 12 December 2024 Important disclosures and comparison rate warning*

NAB car loans

  • Personal Loan

    • Fixed, Unsecured
    Interest rate from
    8.49 % p.a.
    to
    20.49 % p.a.
    Comparison rate from
    9.88 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $250.00
    No Partner link

  • Personal Loan

    • Variable, Unsecured
    Interest rate from
    8.49 % p.a.
    to
    20.49 % p.a.
    Comparison rate from
    9.88 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $250.00
    No Partner link

  • Personal Loan

    • Variable, Unsecured
    Interest rate from
    8.49 % p.a.
    to
    20.49 % p.a.
    Comparison rate from
    9.88 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Upfront fee
    $250.00
    No Partner link

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NAB car loan ratings

Overall customer rating for NAB car loans

3.7
Based on 84 product reviews.

Customer reviews

Important disclosures

FAQs about NAB car loans

How do I apply for a NAB car loan?

You can apply for a NAB car loan online or in-branch. For your application you’ll need to: 

  • Be over 18 years old
  • Be receiving a regular income
  • Be an Australian or New Zealand citizen or resident for tax purposes, or
  • Be an Australian permanent resident or non-resident holding a Temporary Residency Visa.

You will also need to have a bunch of information handy, such as: 

  • Proof of identity 
  • Details about the last three years of your employment history 
  • Details about your income, expenses, and existing debts. 

If you’re submitting your car loan application online, then you could receive conditional approval in less than a minute, according to the NAB website. However, they’ll still need to assess your application and financial situation before giving you unconditional loan approval. Once your loan is approved, you’ll then be able to accept the offer and receive your funds in one business day.

Can I use my car as security for a NAB car loan?

No. NAB’s personal car loans are all unsecured. This means that you won’t be able to put your car as security for the loan, usually resulting in higher interest rates. 

Can I make weekly, fortnightly or monthly repayments on my NAB car loan?

Yes. You have the option for choosing your repayment frequency with a NAB car loan. 

NAB products

Car loan quick links


* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.