NAB Personal Loan (Fixed, Unsecured)

13.49% p.a.to 18.99% p.a.

14.36% p.a.to 19.83% p.a.based on $30,000
over 5 years

$150

NAB Personal Loan (Fixed, Unsecured)

13.49% p.a.to 18.99% p.a.

14.36% p.a.to 19.83% p.a.based on $30,000
over 5 years

$150

Mozo Review   NAB Personal Loan (Fixed, Unsecured) Review

Last updated: 6 December 2018.

What's hot:
  • 13.49% headline interest rate**

  • Flexible repayment schedule

  • Free extra repayments

What's not:
  • $35 late payment fee

Mozo snapshot:

So you’re looking for an unsecured personal loan for a car, a pool or maybe a kitchen reno? Well then the unsecured NAB Personal Loan is a good place to start your search as it comes with a fixed 13.49% headline interest rate** (14.36% comparison rate) and has a $150 application fee. It also lets you choose to repay your loan over 1-7 years in either weekly, fortnightly or monthly instalments. However be aware of the $10 monthly service fee.

Key features:

If you’re looking at a loan, you’re probably looking at the interest rate. The NAB Personal Loan has a fixed 13.49% headline interest rate** (14.36% comparison rate) that’s nothing to turn your nose up at. 

Also, as the loan allows for extra repayments without any fees and no early repayment penalty, you can pay the loan back early and save on even more 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 and 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 NAB loan is unsecured which means it’s not reliant on you owning any assets like a house or a car that can be used as collateral for the loan, you can get it without any bulky tangible goods.

**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% (12.37% comparison rate), while the maximum is 18.99% (19.83% 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 rather stick with a major bank, this one might be for you. The fixed rate will also appeal to borrowers who like to have a set budget.

Any catches?

While this loan is pretty solid across the board, the $35 late payment fee and the continual $10 monthly service fee, will mean if you’re a tardy payer or looking for a longer loan, you’ll need to budget for these extra expenses.

Details

Rates and fees information correct as at 19 December 2018. 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

  • 13.49% p.a.to 18.99% p.a. fixed

  • 14.36% p.a.to 19.83% 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 11.49% 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
6.8/10
Price
6.4/10
Features
6.0/10
Customer service
7.1/10
Convenience
7.5/10
Trust
6.9/10

Latest reviews of NAB Personal Loan (Fixed, Unsecured)

  • Overall
    10/10
    I like my bank a lot

    They are so lovely and nice to their customers.

    They are so lovely and nice to their customers.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Simone | Tasmania

    reviewed about 1 month ago

  • Overall
    10/10
    Amazing bank

    I would give NAB a 10/10 for everything

    I would give NAB a 10/10 for everything

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Lisa | New South Wales

    reviewed 3 months ago

  • Overall
    8/10
    Very competitive, great staff

    This bank was willing to help in every way I needed them to and to make certain I was not pushing...

    This bank was willing to help in every way I needed them to and to make certain I was not pushing myself to hard. This bank also gets me to visit and review each year to make sure there are no problems cropping up.

    Price
    8/10
    Features
    5/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    8/10

    Robert | South Australia

    reviewed 3 months ago

  • Overall
    5/10
    Not a bad bank. Just not for me

    I use this bank but decided not to now as I had to many fraudulent misbehaviours in my account.

    I use this bank but decided not to now as I had to many fraudulent misbehaviours in my account.

    Price
    6/10
    Features
    7/10
    Customer service
    8/10
    Convenience
    5/10
    Trust
    6/10

    Joshua | Queensland

    reviewed 3 months ago

  • Overall
    8/10
    Great provider

    Allways helpfull

    Allways helpfull

    Price
    -1/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -

    Phillip | Queensland

    reviewed over 1 year 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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