7.5 / 10

based on 20846 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 25 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

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

12.69% p.a.to 18.99% p.a.

13.56% p.a.to 19.83% p.a.based on $30,000
over 5 years

$150

Go to site
Personal Loan (Variable, Unsecured)

12.69% p.a.to 18.99% p.a.

13.56% p.a.to 19.83% p.a.based on $30,000
over 5 years

$150

Go to site

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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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

862 Reviews

Recent NAB personal loan reviews

NAB Personal Loan review
Overall 7/10
All good

They are ok.

Read full review

They are ok.

Price
6/10
Features
7/10
Customer service
7/10
Convenience
5/10
Trust
4/10
Less
Mark, Queensland reviewed 6 days ago
NAB Personal Loan (Fixed, Unsecured) review
Overall 10/10
Reliable

The app is user friendly and able to sort things out without having to call.

Read full review

The app is user friendly and able to sort things out without having to call.

Price
9/10
Features
9/10
Customer service
9/10
Convenience
9/10
Trust
9/10
Less
Karthi, Victoria reviewed 14 days ago
NAB Personal Loan (Variable, Unsecured) review
Overall 10/10
Will go through NAB again for sure!

NAB gave me a chance when I needed a loan for medical reasons. They were quick and easy to deal with and funds were transferred quickly.

Read full review

NAB gave me a chance when I needed a loan for medical reasons. They were quick and easy to deal with and funds were transferred quickly.

Price
10/10
Features
7/10
Customer service
7/10
Convenience
8/10
Trust
6/10
Less
Annemarie, South Australia reviewed 23 days ago
NAB Personal Loan (Fixed, Unsecured) review
Overall 7/10
Great bank, reliable, trustworthy, nimble.

I like NAB because they are nice on the phone, pretty prompt with actioning personal loan applications, and any requests I have.

Read full review

I like NAB because they are nice on the phone, pretty prompt with actioning personal loan applications, and any requests I have.

Price
8/10
Features
6/10
Customer service
6/10
Convenience
9/10
Trust
9/10
Less
Patricia, New South Wales reviewed about 1 month ago

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