People can use the NAB personal loan for any uses such as wedding rings, school fees, boats, furniture, caravans and more. Read this article to get more information about this best loan.
People can get a lot of information about the NAB online banking, the NAB internet banking services or Some questions you can get if want to get the NAB home loan in the previous posts of us such as NAB online banking, NAB internet banking, and the NAB home loan.
NAB PERSONAL LOAN
This article includes four parts, they are: “Some requirements which people need to meet if want to get the NAB personal loan”, “Apply for the NAB personal loan”, “The interest rate and fees of the NAB personal loan” and “The benefits and features of the NAB personal loan”.
1. Some requirements which people need to meet if want to get the NAB personal loan
- People are 18 years or older
- People need to have a regular income or wage.
- People need to have a good credit rating.
- People need to be able to afford the loan repayments
- People hold permanent residency or Australian citizenship (or be a New Zealand citizen or holding a 457 Visa)
- People need to live in Australia
- People can apply online, people must be a NAB customer.
2. Apply for the NAB personal loan
People can use the Borrowing Calculator of the NAB to get an idea of how much people may be able to borrow.
Build a good account history with NAB
- NAB get the customers’ salary paid into the account to establish a transaction history.
- Avoid overdrawing the account to show people are able to manage the finances effectively.
- Begin a banking relationship with NAB first. It’s easy to open a transaction account and pay the salary into it to start the transaction history.
- This won’t guarantee approval on the application but, it will help us understand the financial position better.
Set up a regular savings plan
The customers can afford to service a loan by saving a set amount regularly (every week or month). This shows NAB they are more likely to manage to make regular loan repayments too.
Understand your credit report
The credit history of customers may affect how much they can borrow as well as the chances of approval. Activity such as overdue bills missed credit card payments, arrears or debt collection could be recorded at a credit reporting body.
After people apply:
- NAB will send customers an email to confirm NAB have received the application.
- The application will be assessed, and NAB will let people know the outcome within two business days.
- If customers are approved and are an internet banking customer, people can choose to get the documents electronically and accept online. People can also choose to visit the nearest branch to sign the documents there.
- When customers have signed the documents, NAB will deposit funds into the NAB transaction account.
3. The interest rate and fees of the NAB personal loan
- 1-7 years flexible loan term
- People can borrow loan range from $5,000 up to $55,000
- The minimum interest rate: 10.69% p.a.
- The maximum interest rate: 18.69% p.a.
- The interest rate people get may be different from the headline rate and will be based on a number of factors, including the information people provide and the credit assessment.
- Application fee: $150.00
- Monthly fee: $10.00
- Exit fee: $0.00
4. The benefits and features of the NAB personal loan
Same day funds
- If people are an existing customer and apply in- store by 2 pm, people could walk away with the money that very same day.
- If the application is approved, the money will be in the NAB account within two hours.
Tailor your loan
- People can borrow from $5,000 to $55,000 with loan terms from 1 to 7 years.
- Fixed or variable interest rate options.
- If people have made extra payments people can redraw them at any time (variable rate loans only).
Choose flexible repayment options
- People can choose from weekly, fortnightly or monthly repayment option to suit the budget and needs.
- Make lump sum repayments whenever people want at no extra charge.
- Pay off the loan early without fees.
Quick document acceptance online
- NAB know the time is important, so to make it easy, people can accept the loan documents in NAB Internet Banking.
- No more waiting in a queue at a branch as well as printing and signing documents.
Includes, if you want to get a NAB home loan, you should prepare your answers to NAB’s questions. You can get more questions about NAB in our previous post Some questions you can get if want to get the NAB home loan.
Besides, you can get a lot of information about personal loans in many posts of us such as emergency cash loans unemployed no more hassle, payday loans no bank statements required in Australia, best home loan rates Australia, instant payday loans online Australia…
Hillary (Team Content) – Info Credit Free