NAB is one of Australia’s largest business bank working with individuals, small, medium and large business. The bank has more than 30000 staff and nine million customers in more than nine hundred locations in Australia, New Zealand and all over the world. The bank offers a wide range of financial services such as online banking and National Australian Bank Personal Loan.
There is an option for a fixed loan or a comparison loan with a fixed loans minimum rate of 10.69% p.a and a maximum of 18.69% p.a. Comparison rate loans, on the other hand, have an interest rate of 11.58 on the lower side and 19.53 for the maximum.
Personal loans are a straightforward way of borrowing money from a financial institution. The borrower later repays the loan amount plus interest in monthly installments personal loans can be a source for cash to buy a car or a house and repay later after acquiring. The most common personal loans at NAB are the unsecured Personal Loans, Car Loans and the Unsecured Variable Loans.
The unsecured personal fixed loans allow customers to borrow between $5,000 and $55, 000 depending on their capability to repay. The fixed interest loan is repaid in fixed installments throughout the loan process. The unsecured personal variable loan, on the other hand, offer loan amounts of up to $ 30,000; with a repayment period of 1 to 7 years. The customer’s creditability, the repayment period and the amount borrowed determine the interest rate charged.
National Australian Bank Personal Loan Requirements
To qualify for a personal loan at National Australian Bank, a person must be 18 years or older, to apply for loan as an individual they must be an Australian or New Zealand Citizen. The Australian residence can be permanent or an acceptable temporary residency. Another requirement is that they should have a regular income to prove their ability to repay the loan. The required documents to apply for loan include the customer’s NAB ID for an existing customer, driver license number, monthly general living expenses details and details of what you owe.
National Australian Bank Personal Loan Interest Rates
The National Australian Bank personal loan rates depend on the loan amount, the loan terms and the borrower’s circumstances. For example, if a person borrows a variable interest loan of $ 20,000 to repay in monthly repayment for three years. They will pay total interest of $ 4, 153 with a minimum repayment of $ 671 for the loan period of three year.