Want to turn your house into a home, but don’t have the money to renovate or renovate? Home renovation may be expensive, but through National Australia Bank (NAB)’s personal loan for Home Renovation, you can realize your dream home. Worried about the fairness of housing loans.

NAB Personal Loan for Home Renovation Interest Rate

Your interest rate will depend on several factors, including the information you provide in your application, your credit history, and the information they already have about you (if you are an existing customer).

After submitting the application, if conditions are granted, they will give you an indicative interest rate. It depends on the review of the information you provide to them at your request. From this you can decide the loan documents for accepting the loan offer. Interest rates bellow are collected from NAB website.

Variable rate loan

Interest rate Rate can range from 6.99% p.a. to 18.99% p.a.
Comparison rate Rate can range from 7.91% p.a. to 19.83% p.a.

Fixed rate loan

Interest rate Rate can range from 6.99% p.a. to 18.99% p.a.
Comparison rate Rate can range from 7.91% p.a. to 19.83% p.a.


Application fee $150
One off payment when loan is established
Monthly fee $10
Exit fee $0
Late payment fee $0


Personal Loan for Home Renovation interest rate statement

Knowing various interest rates can help you make an informed decision.

The best tariff

If your credit rating is very high, they can provide you with the low-end tariff we quoted, for example 6.99% per year. Applicable to loans with variable or fixed interest rates (comparative interest rate 7.91% pa). A good credit rating may mean that you have not opened many new credit products, or that you have not increased your credit limit frequently. If you have a credit account such as a credit card, personal loan or housing loan, these will also have a positive impact on your reputation.

Average interest rate

If your credit history is bad, your annual interest rate may be about 12.69%. Or more floating or fixed rate loans. Learn more about reputation and how to improve it.

Fixed interest rate and floating interest rate

The fixed interest rate remains the same throughout the loan term, so the loan payment also remains the same. However, floating interest rates may fluctuate over the term of the loan; this means that your minimum repayment amount may change. Adjustable rate loans can also use the redraw feature, so if you suddenly need money, you can get back the extra money you paid.

Comparison interest rate

Comparison interest rate is used to help you determine the actual cost of the loan, including interest and some fees and charges. This makes it easier to compare the total cost of different loans. Write down the loan amount and basic terms.

This will affect the speed of the comparison, and you want to compare apples with apples.

Benefits and features of Personal Loan for Home Renovation

Withdrawal on the same day

If you are an existing customer and apply to the store before 2:00 pm, you can withdraw on the same day. After approval, your money will be credited to your NAB account within two hours.

Sets your loan

Sets your loan between US$5,000 and US$55,000, with a maturity of one to seven years. If you have additional payments, you can modify them at any time (variable interest loans only).

Flexible payment methods

According to your budget and needs, choose weekly, bi-weekly or monthly payment methods. Fixed refund at any time without additional cost. Early repayment without commission.

Quickly accept documents on the Internet

NAB know that your time is very important, so for convenience, you can receive your loan documents at NAB Internet Banking. You no longer need to line up in the department, print documents and sign.

How to apply for Personal Loan for Home Renovation at National Australia Bank?

Check you meet their eligibility criteria and have the right documents ready before you apply for a new personal loan here.

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This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should consider seeking financial advice before making any decision based on this information. Applications for finance are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable.