| ANZ | NAB | |
|---|---|---|
| Advertised rates | 7.49% - 19.99% p.a. fixed or variable (unsecured personal loan; ANZ finances cars through its personal loans and has no secured car loan) | Secured NAB Car Loan 6.74% - 13.54% p.a. fixed (existing NAB customers only); unsecured personal loans 7.50% - 22.00% p.a. fixed or variable; EV discount takes car rates to 5.99% - 12.79% p.a. |
| Comparison rate | 8.18% - 20.58% | 7.80% - 14.50% secured car / 8.54% - 22.88% unsecured |
| Approval speed | Same-day cash for in-branch applications approved by midday Monday to Friday, paid into an ANZ account | 60-second decision on online unsecured applications; car-loan rate quote in about a minute; funds within one business day of accepting the offer |
| Best suited for | borrowers who want a major-bank unsecured loan up to $75,000 for a car or other purchase, priced to their credit score | existing NAB customers after a secured fixed-rate car loan, or sole applicants wanting a fast unsecured bank-loan decision |
| Fees | $150 loan approval fee; $10 monthly loan administration charge; $20 late payment fee, repeating monthly while repayments are behind; Early repayment costs may apply on fixed rate loans; none on variable | Unsecured: $250 application fee (waived for applications started 5 May - 30 July 2026), $15 monthly fee, $0 exit and late payment fees; Car loan: $350 establishment fee (waived under the EOFY offer current at review), $15 monthly service fee, $7 weekly late payment fee, $0 exit fee |
| Credit profile fit | Rate personalised by Equifax credit score: strong files price at the lower end of the range, short histories or recent defaults at the higher end. Working and business visa holders may be eligible; working holiday visas are excluded. Joint applications are priced on the lower of the two scores. | Rate offer based on NAB banking history, application details and credit report. Secured car loans are limited to existing NAB customers; all products are sole-applicant only. |
Rates and fees current as at 30 July 2026. Rates and fees are subject to change by the lender at any time.
*The comparison rate is based on the lender's published example and is true only for that example. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
ANZ: strengths and trade-offs
- + Borrow up to $75,000 unsecured, no car as security
- + Choice of fixed or variable rate
- + Free extra repayments and redraw on variable loans
- - No secured car loan product, so no security-discounted rate
- - $150 approval fee plus $10 monthly administration charge
NAB: strengths and trade-offs
- + 60-second decision on online applications
- + Secured car rates from 6.74% p.a., 5.99% p.a. with the EV discount
- + Rate quote with no credit score impact
- - Secured car loan only for existing NAB customers
- - Sole applicants only, no joint applications
Neither lender is ranked or recommended over the other. Rates are personalised, so the better lender for you depends on your profile; a Loanseekers enquiry compares both, and the rest of our 70+ lender panel, without affecting your credit score.
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