National Bank: Personal Loans

By: The National Bank  06-Dec-2011
Keywords: Loan, Personal Loan

Personal Loans are a cost effective way of borrowing for the medium term. They can help you finance a car, boat, trip, an unplanned expense or any personal needs other than buying a home. They are also a great way to consolidate any existing debt you may have.

  • A National Bank Personal Loan combines the certainty of a fixed interest rate for repayments that stay the same with flexibility to make repayments at any time.

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Our lending criteria apply.

How much can you borrow?

You can borrow any amount from $3,000. The amount you can borrow will depend on your ability to repay the loan.

Top ups

You can apply to top up your loan at any time, providing you can repay the increased loan amount within the maximum term allowed.

The minimum top up is $1,000.

Tertiary and Graduate

We have graduate and tertiary loans available on the Graduate Plus and Tertiary Plus packages.

Interest rate

The interest rate is fixed for the term of the loan so you know exactly how much to budget for repayments. Plus if you are borrowing $10,000 or more we have a special discounted interest rate.

Loan Term

Choose the term of your loan from six months to seven years (Tertiary and Graduate loans from one month up to five years). Choose the term of your loan from six months to seven years (Tertiary and Graduate loans from six months up to five years).

Repayment Frequency

You choose either weekly, fortnightly or monthly repayments.

Early Repayments

You can make lump sum repayments, or repay the loan in full, at any time without paying additional interest.

How long will approval take?

If we have all the information we need, we can give you rapid approval - in many cases, on the spot.

We can pre-approve a loan

It's always easier negotiating a price for whatever you're buying when you know in advance how much you can borrow. Talk to us right at the start of the process. We may be able to pre-approve your ability to borrow up to a certain amount. Then you'll start the bargaining in a better position.

What we need for your application

  • Proof of income e.g. pay slips or a tax certificate
  • 2 years financial statements if you are self employed
  • 3 months of repayment statements from the financial institution the debt is held with

If you're not currently a National Bank customer, we will also need

  • Two forms of signed identification (e.g. driver's licence, passport, credit card, debit card)
  • Statements from your current bank covering the last three months.

Protecting Your Loan

The above Loan Protection product details are a summary only. For full details (including terms, conditions and exclusions) please see the policy document which is available from any National Bank branch.

Loan Protection Insurance premiums may be added to your loan.

The information in this article was current at 02 Dec 2011

Keywords: Loan, Personal Loan

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