To kick off your personal loan search, the interest rate is likely your first port of call. The NAB Unsecured Personal Loan offers a headline variable interest rate of 12.69%** (13.56% comparison rate). However, for customers with particularly impressive credit the best possible rate is 10.69% (11.58% comparison rate).
To help you save some interest, early repayments can be your new best friend and with the NAB Personal Loan you’ll be able to make these early repayments with no extra fees attached. Even if you completely pay off the loan early, you won’t have to worry about any sort of exit fee.
Getting a loan to fit your budget can be a little tricky, but NAB provides personalised loan repayment options to make this as easy as possible. You’re able to choose a loan that is anywhere between 1 and 7 years, as well as choosing to make your repayments either weekly, fortnightly or monthly.
To be eligible for a NAB Personal Loan you’ll need to borrow a minimum of $5,000, but you can borrow all the way up to $55,000 if your loan needs are for something a little bit larger. And as the loan is unsecured, you don’t need any sort of collateral to be eligible.
**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 10.69% (11.58% comparison rate), while the maximum is 18.69% (19.53% comparison rate).
Who it's good for:
This variable, unsecured loan is great for borrowers with no assets to put up as security and great credit, thanks to the personalised interest rates on offer.
NAB Personal Loan does come with a couple fees that need to budgeted for, specifically the $10 monthly service fee and the $150 application fee.