Benefits of a NAB Personal Loan
Our unsecured personal loans can provide flexibility and certainty when buying a new or used car.
No penalties or exit fees
No penalties when you make early repayments or exit fees when you pay off your loan sooner.
Get funds in one business day
If you’re approved and accept our loan offer through NAB Internet Banking, your money will be ready in one business day.
Personalised rates
From 8.49% p.a. to 20.49% p.a. (comparison rate 9.88% p.a. to 21.78% p.a. ).
Ability to redraw extra funds
Redraw available on a variable rate loan if you’re ahead on repayments, giving you flexibility if you need to make car repairs or upgrades.
Borrow up to $55,000 with flexible borrowing loan terms
Borrow from $5,000 with a loan term to suit your needs. Choose from one to seven years, with weekly, fortnightly or monthly repayment options.
No assets needed
NAB Personal Loans are unsecured, so your car won’t be used as collateral, unlike secured car loans.
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Looking for a car loan to finance your new car? If you don’t want to provide your car as collateral or want the flexibility of deciding between a new or used car, a NAB Personal Loan can help get you on the road sooner.
The best bits?
- Avoiding dealer finance might help you save on extra fees, commissions, or high-interest rates.
- As long as the primary loan purpose is the purchase of the car, you can use any remaining funds for other purchases.
- You’ll own the car straight away because an unsecured loan doesn’t use your car as collateral.
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Unlike a secured loan, with an unsecured personal loan, you won’t need to provide collateral (such as your car) to borrow money. Our personal loans are all unsecured loans.
Unsecured loans generally come with a higher interest rate than secured loans because of a higher risk to the lender. The interest rate you’re offered will be personalised. So, if you have an excellent credit history, you may be offered a rate at the lower end of our range.
Personal loan calculators
Before you apply, see what you can afford to borrow and what your car loan repayments would be with our helpful calculators.
Car loan repayment calculator using a personal loan
Estimate your car loan repayments with our calculator.
Borrowing power calculator
Estimate what you can afford to borrow and how much the repayments will be.
Debt consolidation calculator
Understand how your repayments could change by consolidating your debts.
Compare personal loan rates and fees
We offer a range of rates on our personal loans. The interest rate you are offered is based on your personal circumstances. We decide your rate based on:
- your banking history with NAB
- information you provide in your application, including income, assets, debts and expenses
- your credit history report including your credit score.
Find out more about credit-worthiness and how to improve your credit score.
After you submit your application, we’ll give you an indicative interest rate if you’re conditionally approved. This is subject to verification of the information you give us in your application.
Once we’ve verified your information, we’ll give you the loan documentation setting out your interest rate and other important information. Keep in mind that the rate shown in the loan documentation is subject to change and may be different on the day of settlement.
Personal loan interest rates
| Interest rate | Comparison rate | |
|---|---|---|
| Variable rate loan | Interest rate
From 8.49% p.a. to 20.49% p.a. |
Comparison rate
From 9.88% p.a. to 21.78% p.a. |
| Fixed rate loan | Interest rate
From 8.49% p.a. to 20.49% p.a. |
Comparison rate
From 9.88% p.a. to 21.78% p.a. |
Personal loan fees
| Application fee One-off payment when loan is established |
$250 |
|---|---|
| Monthly fee |
$15 |
| Exit fee | $0 |
| Late payment fee | $0 |
Ready to apply for car finance?
Apply online and get an instant response.
Our interest rates explained
Understanding the different types of interest rates will help you make an informed choice.
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A fixed rate stays the same for the life of the loan, so your loan repayments will also stay the same.
A variable rate can go either up or down over the life of the loan – this means your minimum repayment may change. A variable rate loan also gives you access to a redraw facility, so if you need money unexpectedly you can redraw extra funds you’ve paid.
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A comparison rate is used to help you identify the true cost of the loan, including the interest and some fees and charges. This makes it easier to compare the overall cost of different loans.
When you read comparison rates, take note of the loan amount and term that they are based on. These affect the comparison rate and you want to be comparing apples with apples.
Our other personal loans for vehicles
Not sure if you’re getting a car or another kind of vehicle? Check out what else you can fund with a NAB Personal Loan.
Personal loan for a boat
Whether it's a jet ski or a boat for sailing or fishing, a NAB Personal Loan can help you get on the water sooner.
Personal loan for a motorbike
Our motorbike loans make financing your next ride easy. Check out our personal loans and get on the road sooner.
Personal loan for a caravan
Explore Australia with the freedom of a caravan. Our personal loans can help make van life a reality.
Other options to consider
Car Insurance
Compare comprehensive car insurance and third-party cover with NAB Car Insurance.
Credit cards
Compare between our credit cards to find the right one for you.
Savings accounts
Whatever you're saving for, our savings accounts can help get you there sooner.
Help and support
We have guides and other resources to help you apply for a new personal loan or manage your existing one.
Other ways we can help
Use our help guides, FAQs and other support services to help you manage your banking more easily.
Get in touch
Visit a NAB branch
Visit your nearest NAB branch to speak to us in person.
Terms and Conditions
Apologies but the Important Information section you are trying to view is not displaying properly at the moment. Please refresh the page or try again later.
Consider the NAB Internet Banking Terms and Conditions which apply when using NAB Internet Banking.
Terms and conditions and fees and charges apply. Approval and loan amount are subject to our credit assessment criteria. Information, including fees are subject to change. See our general terms for personal loans, personal banking fees and charges and indicator rates for other personal lending.
Target Market Determinations for these products are available at nab.com.au/TMD.