Just recently a house came up that my partner and I fell in love with that was going to be auctioned. We did all the right things and went to the NAB to get our loan started and pre-approved. Our loan got conditionally approved which we met all the conditions for so we took the bid at auction and got the place for less than what the bank was going to lend us. Again, we did all the right things and met all the banks requirements, even flying home early from holidays so we could sort it out. The loan went to the head office where it stewed for a few days and then they came back to us and said they could only conditionally lend us x amount but only if we magically came up with 100k+. We now have 10 days to settle and no loan. They left us high and dry and shattered our dreams. Will be finding a new bank to handle our finances as the NAB can't be trusted.
Never missed a payment always have an excellent credit rating yet they refused to offer an increase on my credit cards because they the nab said my disability pension is not considered a reliable income.
NAB gave me a chance when I needed a loan for medical reasons. They were quick and easy to deal with and funds were transferred quickly.
I like NAB because they are nice on the phone, pretty prompt with actioning personal loan applications, and any requests I have.
The contract was not clear that interest was charged every month instead of yearly and the interest rate was higher than what was quoted for a variable loan and it never reduces.
Got this loan as medical emergency. Almost a month of processing before approval. There might be other companies that can offer better but this is a nice alternative.
After being with NAB for a while I took out loans, when my work changed due to health reasons, I went to consolidate and they refused. I then tried my best to keep up with payments, tried to sort out a better way do I wouldn’t so broke and it took so long even providing them with health records and letters from my doctors. It was only when I said I’d have to go bankrupt that they decided to listen. Helped for 3-6 months then palmed me off to debt collectors. They have been helpful but I’m still paying it off 7yrs later. If I were able to consolidate earlier 4yrs ago I may have stood a chance at paying off but they were only interested in keeping the interest so they made so much more off me and late fees.
As a big bank they don't seem to go out of their way to retain customers and they don't ever contact me to see if they could be doing anything better.
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Terms from 1 to 5 years. Representative example: a 5 year $30,000 loan at 5.45% would cost $34,340.57 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.45% would cost $34,590.57 including fees.
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 5.44% would cost $34,332.26 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,190.18 including fees.
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 6.49% would cost $35,405.64 including fees.
WARNING: 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. 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.
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