NAB's position in the personal loan market
NAB's unsecured personal loan covers $5,000 to $55,000, slightly above the $50,000 ceiling at CBA and Westpac. The product is a fixed-rate fixed-monthly-repayment term loan with no revolving facility. NAB also offers a separate secured car loan that prices below the unsecured product because the vehicle is held as security.
NAB's headline rate sits broadly in line with the rest of the Big 4 in mid-2026. The lender competes on the bundled banking relationship and credit decision speed for existing customers rather than on sharpest published rate.
The Quickbiz crossover
NAB has historically been one of the stronger Big 4 banks for self-employed and SME-adjacent borrowers, partly because of its larger business banking footprint. For a sole trader borrower with self-employed income, NAB's ability to assess the file under self-employed credit policy is typically more flexible than CBA, Westpac or ANZ.
The NAB Quickbiz business product, launched 2024, has scaled meaningfully and now writes a significant volume of sub-$500,000 unsecured business loans. For an SME borrower considering an unsecured personal loan against an established sole trader income, the Quickbiz business loan is sometimes the more appropriate product structure.
When NAB is the right pick
NAB is a reasonable choice for borrowers who: are existing NAB customers with strong banking history, have self-employed income that benefits from NAB's more flexible credit assessment, or want a Big 4 lender with the depositor confidence of a major bank.
It is not the right pick for borrowers who: want the absolute sharpest unsecured rate (look at customer-owned banks and non-bank specialists), need a revolving credit facility, or have available home equity for a cheaper mortgage top-up.
Comparison rate matters
NAB's headline rate is published on the NAB personal loans page, alongside the comparison rate. The comparison rate is the number to use when shopping across lenders because it includes most fees. A NAB personal loan with no establishment fee and no monthly admin fee can be more honest than a non-bank rate that publishes a sharper headline but adds material fees.
Product lineup at a glance
Below is the current published product range. Rates are not listed inline because they change with the cash rate and per-borrower credit overlay. Click through to the lender's own rate card for the live figure.
The honest pros and cons
- Loan size ceiling slightly higher than other Big 4 at $55,000
- Strong credit assessment for self-employed and SME-adjacent borrowers
- Major-bank balance sheet and depositor confidence
- Fast credit decision for existing NAB banking customers
- Headline rate rarely sharpest in the market
- No flexible draw-down or revolving facility
- For debt consolidation with home equity, a mortgage top-up is usually cheaper
- Customer-owned banks frequently publish sharper rates
Frequently asked questions
What is the current NAB personal loan rate?
NAB publishes its current personal loan rate and comparison rate on the NAB personal loans page. The comparison rate is the cleanest number for like-for-like shopping across lenders.
How much can I borrow with a NAB personal loan?
The NAB Personal Loan covers $5,000 to $55,000 unsecured, slightly above the $50,000 ceiling at most other Big 4 lenders. The actual approved amount depends on assessed serviceability, credit history, and existing commitments.
Does NAB do personal loans for self-employed borrowers?
Yes. NAB has historically been one of the stronger Big 4 lenders for self-employed borrowers, with credit assessment that handles complex business income better than the digital majors. For larger SME funding needs, the NAB Quickbiz business loan is sometimes the more appropriate product.
Can I pay off a NAB personal loan early?
Yes. NAB allows early repayment on standard personal loans. The exact treatment of early-repayment fees on fixed-rate products is set out in the loan contract; in most cases, partial extra repayments are allowed without fees.
Is the NAB personal loan secured or unsecured?
The standard NAB Personal Loan is unsecured. NAB also offers a separate secured car loan, which uses the vehicle as security and typically prices below the unsecured rate.