NAB Personal Loan (Variable, 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 (Variable, 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 (Variable, Unsecured) Review

Last updated: 15 August 2018.

What's hot:
  • Headline rate 12.69%** (comparison rate 13.56%)

  • Free extra repayments

  • Flexible repayment schedule

What's not:
  • $150 application fee

Mozo snapshot:

Whether you're looking to fund a car, a renovation or even a holiday; NAB’s variable rate Unsecured Personal Loan may help you achieve your spending goals. With a headline variable rate of 12.69%** (13.56% comparison rate) the loan’s flexible repayment schedule and the flexible 1-7 year loan loan terms will help you create a repayment plan fit to with your budget.

Key features:

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.

Any catches?

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.

Details

Rates and fees information correct as at 14 November 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
  • Variable

  • 12.69% p.a.variable

  • 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

  • yes

  • 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
6.8/10
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 (Variable, Unsecured)

  • Overall
    1/10
    Good service

    There interest rates for unsecured personal loan are too high compared to other lenders.

    There interest rates for unsecured personal loan are too high compared to other lenders.

    Price
    5/10
    Features
    5/10
    Customer service
    5/10
    Convenience
    5/10
    Trust
    2/10

    Joanne | Queensland

    reviewed 13 days ago

  • Overall
    10/10
    I will always stay with NAB

    Banking with NAB gives you great value since they have very low interest and their staff are...

    Banking with NAB gives you great value since they have very low interest and their staff are friendly too.

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

    Lorraine | Queensland

    reviewed 29 days ago

  • Overall
    9/10
    Great service

    I like this bank because they're helping me while I'm struggling between jobs.

    I like this bank because they're helping me while I'm struggling between jobs.

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

    Dontae | Victoria

    reviewed 7 months ago

  • Overall
    10/10
    Always great customer service, no worries about it

    They are a lovely gang of girls working at this bank, always happy and ready to help you; they...

    They are a lovely gang of girls working at this bank, always happy and ready to help you; they even take the time to teach you how to use apps. I may have to wait as they can get very busy, so you either wait or come back. The only thing is they close Tuesdays so you need to get things done before and don't leave it for that day.

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

    Debbie | New South Wales

    reviewed 8 months ago

  • Overall
    1/10
    Customer service

    I am waiting for income insurances to kick in (25 days to go out of 88 day waiting period) &...

    I am waiting for income insurances to kick in (25 days to go out of 88 day waiting period) & trying to live on Centrelink payments. Went to NAB Armadale for a short term personal loan to bridge gap and was told by the manager "we don't lend on future events". Isn't that critical to all loans taken out? We will endure, we will get our insurance payouts & take our super money where we are credible.

    Price
    0/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    8/10
    Trust
    0/10

    Veronica | Western Australia

    reviewed 10 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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over 5 years

$150.00upfront and $10.00/month

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