NAB Personal Loan (Fixed, Unsecured)

12.69% p.a.to 18.69% p.a.

13.56% p.a.to 19.53% p.a.based on $30,000
over 5 years

$150

NAB Personal Loan (Fixed, Unsecured)

12.69% p.a.to 18.69% p.a.

13.56% p.a.to 19.53% p.a.based on $30,000
over 5 years

$150

Mozo Review   NAB Personal Loan (Fixed, Unsecured) Review

Last updated: 22 November 2019.

What's hot:
  • 12.69% p.a. headline interest rate** (13.56% p.a. comparison rate*)

  • Flexible weekly, fortnightly or monthly repayment options

  • Free extra repayments

What's not:
  • $150 application fee, $10 service fee & $35 late payment fee

Mozo snapshot:

So, you’re after an unsecured personal loan to cover that new car, pool or big kitchen reno? Well, the unsecured NAB Personal Loan is a good place to start your search as it comes with a 12.69% p.a. fixed headline interest rate** (13.56% p.a. comparison rate*). It also lets you choose to repay your loan over 1-7 years in either weekly, fortnightly or monthly instalments.

Key features:

If you’re on the hunt for a competitive personal loan, then you’re probably looking for a killer rate. Well, you're in luck! The NAB Personal Loan offers a 12.69% p.a. fixed headline interest rate** (13.56% p.a. comparison rate*) which is nothing to turn your nose up at if you ask us! 

On top of a hot rate, this loan allows fee-free extra repayments with no early repayment penalties, so you can pay your loan off early to save even more on interest.

When it comes to repaying your loan you have the option to choose between weekly, fortnightly and monthly repayments that can go on for a loan term anywhere between 1 to 7 years, letting you personalise your loan to fit with your budget.

Thinking of getting a loan somewhere between $5,000 to $55,000? Perfect, because that’s the exact range of money the NAB Personal Loan allows you to borrow.

This is an unsecured personal loan, which means you won't need to put up any assets like a house or a car as collateral against the loan.

**The interest rate shown is a headline rate. The headline rate is the rate that the majority of NAB personal loan customers will get. The minimum interest rate available on this loan is 11.49% p.a. (12.37% p.a. comparison rate*), while the maximum is 18.99% p.a. (19.83% p.a. comparison rate*).

Who it's good for:

If you're after a personal loan but don't have any assets to put up as security and would prefer to stick with a big bank, then this might be the loan for you. The fixed rate will also appeal to borrowers who like having a budget, as your repayments will always stay the same.

Any catches?

While this loan is pretty solid across the board, you'll need to budget for the $150 application fee, $10 service fee and if you’re tardy with your repayer then the $35 late payment fee.

Details

Rates and fees information correct as at 21 January 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 12.69% p.a.to 18.69% p.a. fixed

  • 13.56% p.a.to 19.53% p.a.based on $30,000
    over 5 years

Fees
  • $150.00

  • $10.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $55,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • none

  • Headline rate displayed above, rates start as low as 10.69% based on credit history.

*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. WARNING: 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.

Customer Reviews

How are NAB personal loans rated by the Mozo community?

Overall customer rating
6.9/10
Price
6.4/10
Features
6.1/10
Customer service
7.1/10
Convenience
7.5/10
Trust
6.9/10

Latest reviews of NAB Personal Loan (Fixed, Unsecured)

  • Overall 10/10
    Love the customer support.

    Customer support all above board.

    Read full review

    Customer support all above board.

    Price
    8/10
    Features
    10/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Nathan, New South Wales reviewed about 2 months ago
  • Overall 8/10
    Easy process and personal loan has a good price.

    I have used NAB for a long time, was easy to set up, good price, great customer service and overall I would use again for these reasons.

    Read full review

    I have used NAB for a long time, was easy to set up, good price, great customer service and overall I would use again for these reasons.

    Price
    8/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Carrie, Tasmania reviewed about 2 months ago
  • Overall 10/10
    Secure and friendly banking option.

    Always available to assist in times of hardship and tailors to your needs.

    Read full review

    Always available to assist in times of hardship and tailors to your needs.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Jacqueline, Northern Territory reviewed about 2 months ago
  • Overall 7/10
    Good reliable product.

    Good reliable product with backup from customer service. Would recommend to first time applicants. Since the credit investigations the bank has lifted their game.

    Read full review

    Good reliable product with backup from customer service. Would recommend to first time applicants. Since the credit investigations the bank has lifted their game.

    Price
    8/10
    Features
    6/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    4/10
    Less
    Lee, Victoria reviewed about 2 months ago
  • Overall 10/10
    Awesome!

    Haven’t had a problem with NAB, awesome service every time!

    Read full review

    Haven’t had a problem with NAB, awesome service every time!

    Price
    10/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Kane, Western Australia reviewed 3 months ago
NAB

About NAB

National Australia Bank is one of the big four banks who provide a large variety of financial products to the Australian Community. In recent times NAB has set itself apart from the other big four banks; by expanding their ATM network, removing many fees and maintaining low standard variable home loan rates. NAB's changes to its financial products have made their home loan, credit card, loans, savings accounts and personal loans more competitive within the banking industry.

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