Thumbnail icon for NAB

NAB Personal Loan (Variable, Unsecured)

Interest rate from
12.69% p.a.to 18.69% p.a.
Comparison rate from*
13.56% p.a.to 19.53% p.a.based on $30,000
over 5 years
Upfront fee
$150
Go to site

Mozo editorial review NAB Personal Loan (Variable, Unsecured)

Last updated: 15 June 2020.

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What's hot
  • Headline rate 12.69%** (comparison rate 13.56%*)
  • Flexible repayment schedule
  • Free extra repayments
What's not
  • $10 service fee
  • $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 can help you create a repayment plan fit to with your budget.

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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 9.99% (10.66% 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 9.99% (10.66% comparison rate*), while the maximum is 18.99% (19.59% comparison rate*).

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Who is it 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.

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Any catches

NAB Personal Loan does come with a $10 monthly service fee and a $150 application fee you'll need to budget for.

Details

Rates and fees information correct as at 15 August 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
  • 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

  • $0.00

  • $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 9.99% 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 0/10
    Bad service.

    Been a customer of NAB since 2013. Since day one of getting a loan for my house to 2020 for my investment property loan nothing has changed. From branch customer service to loan approvals they are hopeless. For my first build, the bloke I put my loan through went on leave and never passed it on to anyone and I lost 5k because the land settlement was done two weeks late. Tryed to get a loan for an invest property. Same thing happened. Had to go through 4 people before it went somewhere and then still they needed more paperwork when I’ve submitted all. Will never recommend anyone to NAB.

    Read full review

    Been a customer of NAB since 2013. Since day one of getting a loan for my house to 2020 for my investment property loan nothing has changed. From branch customer service to loan approvals they are hopeless. For my first build, the bloke I put my loan through went on leave and never passed it on to anyone and I lost 5k because the land settlement was done two weeks late. Tryed to get a loan for an invest property. Same thing happened. Had to go through 4 people before it went somewhere and then still they needed more paperwork when I’ve submitted all. Will never recommend anyone to NAB.

    Price
    -1/10
    Features
    -1/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Kush, Victoria reviewed 5 months ago
  • Overall 3/10
    Low interest rate.

    Not ideal interest rate.

    Read full review

    Not ideal interest rate.

    Price
    4/10
    Features
    2/10
    Customer service
    5/10
    Convenience
    7/10
    Trust
    2/10
    Less
    Samantha, Queensland reviewed 5 months ago
  • Overall 3/10
    Good for people that need a loan ASAP.

    I think they could be more competitive.

    Read full review

    I think they could be more competitive.

    Price
    2/10
    Features
    2/10
    Customer service
    2/10
    Convenience
    5/10
    Trust
    3/10
    Less
    Barb, South Australia reviewed 6 months ago
  • Overall 10/10
    Very good in customer service.

    I've had a loan with the NAB and during the loans duration my personal banker from the NAB was fantastic.

    Read full review

    I've had a loan with the NAB and during the loans duration my personal banker from the NAB was fantastic.

    Price
    10/10
    Features
    -1/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Dom, Victoria reviewed 6 months ago
  • Overall 9/10
    Great customer service.

    I find NAB to be very helpful which is very rare and I like the fact that I have a branch here if I do need to enter the bank.

    Read full review

    I find NAB to be very helpful which is very rare and I like the fact that I have a branch here if I do need to enter the bank.

    Price
    8/10
    Features
    7/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Sue, Western Australia reviewed 8 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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