7.5 / 10

based on 20987 NAB reviews as rated by Mozo community

NAB personal loans

It’s no secret that NAB is a big four bank, but one thing you might not know is this major player has a lot to offer when it comes to personal loans. Whether you need a loan for a new set of wheels, the special day you say “I do”, or that gap year adventure, NAB’s fixed or variable rate loans should do the trick. Read on as we reveal everything you need to know about taking out a personal loan with NAB:

NAB offers the following personal loans

Rates and fees verified as correct at 06 May, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee  
Personal Loan (Fixed, Unsecured)

6.99% p.a.to 18.99% p.a.

7.91% p.a.to 19.83% p.a.based on $30,000
over 5 years

$150

Go to site
Personal Loan (Variable, Unsecured)

6.99% p.a.to 18.99% p.a.

7.91% p.a.to 19.83% p.a.based on $30,000
over 5 years

$150

Go to site

NAB personal loans overview

Fixed Rate Personal Loan: 

If you prefer sticking to a routine and knowing where you stand with your repayments, you might find NAB’s fixed rate unsecured personal loan is the perfect pick for you. Loan amounts range from $5,000 to $55,000 and you can choose between a repayment term of one to seven years. But keep in mind this fixed rate loan doesn’t come with the flexible feature of a redraw facility. But then again, this could be a blessing in disguise as you won’t be tempted to dip into those extra repayments you’ve made. Best yet, unlike many other fixed rate loans, NAB’s comes with no break cost fee for repaying the loan before the agreed term comes to an end.

Variable Rate Personal Loan: 

As with the fixed version, NAB’s variable rate unsecured loan lets you borrow between $5,000 to $55,000 and choose a repayment term from one to seven years. While the interest rate is lower than with the Fixed Rate Personal Loan, remember that NAB can lift the rates at any time, so you should factor rate changes into your budget for making repayments. Like NAB’s fixed rate personal loan, you can fast-track your repayments and pay it all off early without footing a break cost fee. The main bonus with having a variable rate personal loan is the redraw facility option, which you can use without extra cost so long as you make your adjusted loan repayments.

NAB personal loan features at a glance


How do you apply for a NAB personal loan?

Applying for a personal loan with NAB is a simple process. If you apply before 2pm on a business day at a branch, the loan could be granted immediately. The funds could even clear in your NAB account two hours later. Better still, you can sign up for one from the comfort of your own home without having to walk into a branch. At most, it will take two days to find out if your personal loan application has been accepted. Then you’ll be set to continue with your wedding planning or trip to the car dealer!

The documents you need to apply for a personal loan with NAB include:


How are NAB personal loans rated?

Mozo users have rated NAB personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
NAB personal loans
Overall
6.8/10
Price
Features
Customer service
Convenience
Trust

867 Reviews

Recent NAB personal loan reviews

NAB Personal Loan (Fixed, Unsecured) review
Overall 1/10
Do not trust NAB with loans.

Just recently a house came up that my partner and I fell in love with that was going to be auctioned. We did all the right things and went to the NAB to get our loan started and pre-approved. Our loan got conditionally approved which we met all the conditions for so we took the bid at auction and got the place for less than what the bank was going to lend us. Again, we did all the right things and met all the banks requirements, even flying home early from holidays so we could sort it out. The loan went to the head office where it stewed for a few days and then they came back to us and said they could only conditionally lend us x amount but only if we magically came up with 100k+. We now have 10 days to settle and no loan. They left us high and dry and shattered our dreams. Will be finding a new bank to handle our finances as the NAB can't be trusted.

Read full review

Just recently a house came up that my partner and I fell in love with that was going to be auctioned. We did all the right things and went to the NAB to get our loan started and pre-approved. Our loan got conditionally approved which we met all the conditions for so we took the bid at auction and got the place for less than what the bank was going to lend us. Again, we did all the right things and met all the banks requirements, even flying home early from holidays so we could sort it out. The loan went to the head office where it stewed for a few days and then they came back to us and said they could only conditionally lend us x amount but only if we magically came up with 100k+. We now have 10 days to settle and no loan. They left us high and dry and shattered our dreams. Will be finding a new bank to handle our finances as the NAB can't be trusted.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Elena, Queensland, reviewed 3 months ago
NAB Personal Loan review
Overall 1/10
Horrendous

Never missed a payment always have an excellent credit rating yet they refused to offer an increase on my credit cards because they the nab said my disability pension is not considered a reliable income.

Read full review

Never missed a payment always have an excellent credit rating yet they refused to offer an increase on my credit cards because they the nab said my disability pension is not considered a reliable income.

Price
1/10
Features
1/10
Customer service
10/10
Convenience
5/10
Trust
1/10
Less
William, New South Wales, reviewed 4 months ago
NAB Personal Loan (Variable, Unsecured) review
Overall 10/10
Awesome.

NAB is the best bank ever.

Read full review

NAB is the best bank ever.

Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Joanne, Victoria, reviewed 5 months ago
NAB Personal Loan review
Overall 5/10
Been with NAB my whole life.

In bank staff are always friendly and helpful.

Read full review

In bank staff are always friendly and helpful.

Price
5/10
Features
4/10
Customer service
10/10
Convenience
10/10
Trust
6/10
Less
Shannyn, Victoria, reviewed 5 months ago

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