About automating your personal loan repayments

  • For existing unsecured personal loans, you can automate your repayments using NAB Internet Banking, the NAB app or a direct debit form.
  • For newly approved unsecured personal loans, automating your repayments by direct debit is done as part of your loan acceptance process.
  • Your contracted repayments are also referred to as your ‘minimum instalment amount’ or ‘scheduled repayment’. Find out How NAB Personal Loan repayments work.
  • Automatic repayments can help you manage repayments so you avoid defaulting on your loan and impacting your credit-worthiness.
  • There are two different methods to automate your repayments: setting up regular payments from a NAB transaction account ; or a direct debit repayment from a NAB or non-NAB account.

What are regular payments?

A regular payment is a self-managed automated payment that you set up from your nominated NAB transaction account at a recurring frequency. You can choose to set your regular repayments until further notice, a specific end date or number of transfers.

If your minimum instalment amount changes after an annual review, you’ll need adjust the amount you’re paying accordingly to ensure the loan is paid out within the contracted loan term. You can edit regular payments in the NAB app or NAB Internet Banking.

How to set up a regular payment

Follow the steps below to set up a regular payment from a NAB transaction account using the NAB app or NAB Internet Banking. To do this, you’ll first need to be registered for NAB Internet Banking.

If you don’t have a NAB transaction account,  learn how a transaction account works.

The NAB app

The NAB app

  1. Log into the NAB app.

  2. Tap Pay.

  3. Choose the NAB account  you want to transfer from and select your NAB Personal Loan as the account you want to transfer to.

  4. Enter your repayment amount.

  5. Tap Pay when.

  6. Tap the Recurring tab to choose the repayment frequency , start date and an end date. Tap Apply.

  7. Tap Next to review your payment details and tap Pay now.

NAB Internet Banking

NAB Internet Banking

  1. Log into NAB Internet Banking with your 8 to 10-digit NAB ID and password.

  2. Select the Transfer & Pay menu and choose the Transfer option.

  3. Choose your NAB account  you want to transfer from and select your NAB Personal Loan as the account you want to transfer to.

  4. Enter your repayment amount.

  5. Select Recurring and select the frequency , start date and an end date.

  6. Select Next to review your details and select Confirm.

What is a direct debit?

A direct debit is where you authorise NAB to debit payments from your nominated NAB account or non-NAB account.

If your minimum instalment amount changes after an annual review, NAB will automatically adjust your payment amount to ensure your loan is paid out within the contracted loan term.

How to set up a direct debit

To set up a direct debit for your existing unsecured personal loan, download and fill out the Direct Debit Request form (PDF, 541KB)  and email it to loanmods@nab.com.au. You’ll receive a confirmation letter once it’s been set up.

For newly approved unsecured personal loans, automating your repayments by direct debit is done as part of your loan acceptance process.

Don’t have the NAB app?

Download the app today for a more convenient banking experience.

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Terms and Conditions

Consider the NAB Internet Banking terms and conditions which apply when using NAB Internet Banking and the NAB app, before making any decisions regarding these services. The NAB app is compatible with Android™ and iOS, minimum platform requirements apply. Android is a trademark of Google LLC. iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license. Services issued by NAB.

Target Market Determinations for these products are available at nab.com.au/TMD.