Finty
NAB

NAB Personal Loan

UnsecuredFixed or Variable rate

With our unsecured personal loans, you can buy a new car, travel overseas, renovate your home, consolidate your debts and more.

Written byDavid Boyd

7.50%

interest rate a year, from

8.41%

comparison rate, from

Establishment fee
Not published
Monthly fee
$15
Borrow
$5,000 to $55,000

What it would cost

At the lowest published rate of 7.50%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$637
Total repayments
$22,936
Interest and monthly fees
$2,936

Loan details

Rates

Interest rate (a year)
7.50%–22.00%
Comparison rate (a year)
8.41%–22.29%
Rate type
Fixed or Variable
Security
Unsecured

Limits and fees

Loan amount
$5,000 to $55,000
Loan term
1 year to 7 years
Establishment fee
Not published
Monthly fee
$15

How it compares

Against the other unsecured personal loans we compare. Typical means the middle half of them.

Comparison rate

8.41%

From 8.41%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$4,946

Interest and fees at its starting rate. Typical is $5,455.

Monthly fee

$15

A typical monthly fee is $10.

Most you can borrow

$55,000

Typically you can borrow up to $50,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • A soft check on your rate. You can see the rate you'd get without it showing on your credit report.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 7.50% to 22.00%, and only some people get the starting rate.
  • A $15 monthly fee. That adds $900 over 5 years, as well as the interest.

Similar loans

Unsecured loans from other lenders that start at a similar comparison rate.