Perfect credit rating and banking history,, declined loan
I have been banking with NAB for 8 years.
I Have an overdraft which I have had for 4 years, and have had 2 personal loans and paid them out, well within the timeframe due to high interest rates.
I was shocked to find out that you can still acrue interest on a zero balance owing loan, as soon as I had found that out I closed the loan account completely (after paying the interest that had accumulated for 3 days on a zero balance loan).
The staff at my local branch, I have grown very close too and we are like friends, I can’t fault the staff at m...y local branch. However I can fault the bank themselves. I had tried twice last year to apply for a $10k personal loan for a better car, with a perfect credit rating, and the fact that I had paid my 2 previous loans out early, i thought I would be approved, however I was turned down because the finance team in the big smoke didn’t think I could afford to make the repayments in spite of having the funds to make repayments. I am done trying with NAB for personal loans, I will be trying elsewhere for car finance but will continue to keep my normal scoping with NAB, purely because of the staff at my branch.
seamless online application process anything but
Applied on line and was conditionally approved, tried to submit documents online couldnt due to system issues. Told to email them but didn't know what documents to send, after being on hold for 40 minutes figured I'd run down to branch in lunch time, get there and they said can't help need to do online, so dialled again and another 45 minutes finally spoke to someone and they said will be fine and take 2 days, rang then 3 days later for update, told it will take a while as they are very busy, rang 3 days later again and get transferred to som...eone who just asks the same questions ask to speak to manager, who says they'll walk it to the team to see if they can look into it. 7 phone calls nearly 4 hours on hold for a seamless online application process.
National Australian Time Wasters
The worst customer service I have ever come across... not what youd expect from a top 4 bank. Cant meet there own set deadlines - one excuse after another, along with endless mistakes and being passed from one manager to another.
Personal loan process so slow!
I applied for a loan for my wedding last Friday and Ive been waiting 1 week and a half to get a response after submitting my weekly financials as they requested this is beyond a joke wont be doing banking with NAB again! And I have a perfect credit score with savings with them sigh shocking, then I go to nab in the cbd Sydney office and two people in there and they say they dont deal with loans and better to call nab direct then whenever I call nab direct they say still processing what the hell?
Personal loan refused for $3.90
I applied for personal loan for pay off exiting loan n some extra for buying car. First conditionally approved with no documents required because my salary goes in nab account call 10 times to review team they said all good and send the application to credit review, I call 5 times to find the outcome of the application but still inprocessing no answer and today I call again n it's been refused due to $3.90 depth or short in my income. in end got loan from my commonwealth bank in one hour same day funds in account. Dont recommend anyone Nab for any loan. Waist of time. Closing my salary account soon
Disgusting customer service
Today I called to inquire about personal loan for a holiday. And this staff on the phone was rude. I was only needing $4000 for holiday and this staff called amid was being a crap. Here’s the convo that I summarised:
Me : Hi i need to apply a loan of $4000.
# : We can only do $5000.
Me: Ok then I’ll borrow $5000.
# : but what are you gonna do with the rest $1000 you don’t need?
Me: i’ll put it straight to pay the loan cause i only need $4000.
# : we can’t give you money for you to hold it.
Me: okay, then i’ll use it for my holiday.
NEVER AGAIN will i use the NAB - We will be switching banks once this saga is complete.
VERY POOR service. Banked with NAB for 8 years, both our salaries paid into the account all this time. Applied for a personal loan, conditionally accepted with 24 hours, sent to both mine and wife's mobile and emaill. then the whole sorry saga started. First i received a call a week later asking me about my salary, and that my contact details for me and wife were missing, claiming i had not completed the application correctly. when i advised that the application process on line will not let you continue without entering the data into this ...box and the fact that we had both lalreday received contact the week before, he sounded somewhat bemused but still insisted on needing the data. he advised we wold hear within 24-48 hours. Another week passed, checked the application online, to now see i need to provide 100 points of ID. i called (after 55 mins and 4 different people) i was finally informed that they had all that was needed and to ignore the ID request. Again advised 24 - 48 we would hear. ANOTHER week passed, then i received a call requesting more information on our financial position (outgoings), again claiming the data was missing from my application. Again i asdvised that as the outgoings box was a mandatory requirement, the application would not have allowed me to progress to submission. BUT still she insisted on giving her the data. Again we were told, 24-48 hours. Guess what, ANOTHER WEEK, another phone call asking about outgoings (AGAIN) then an hour later, my wife received a call, asking the same information, but in addition, information about her salary, this she gave and the lady from the NAB said "oh, it seems your outgoings is high, i will amend that". We then recived an email and i checked on line, now it wanted us both to provide two pay statements and a copy of our latest bank statement. This i found very strage considinging (as stated previously) we have bannked with the NAB for 8 years, been in the same jobs and our saliers are paid in every two weeks. Anyway, I uploaded and emailed the documents, checking the following morning that they had been accpted. The ID requirment has reappeared again. I tried calling, but was kept on hold for over an hour before I had to hang up. i need my job to repay any loan, so being on my phone all day isnt very professional. I called into my local branch, were i was advised, they couldnt help and had no access to the on line applications to check. She tried to call, but she was also kept on hold, giving up after 15 mins. I called again, eventually someone answered, then the dance around the departments began again. after 4 different people, one wowant advised she didnt work in this area but would try to help. She called me back an hour later, advising me to ignore the ID request, and that there was an issue with our application as the outgoings we declared didnt match my current account activity. when i questioned the figure, its was half of what i had written, i claimed someone must have changed it. she accessed my account/ application to check, then again, a very sheepish response asking me what i had declared originally. which, short of about $25 matched their expectation. i was informed my application was now being looked at and i will hear before the end of the day. SUPRISE, its now the next morning, and we are still no futher forward.
- Verified customer
great nab team experience, I have always banked with nab for quite a while now, I applied for a personal loan online and within 24 hours I had my conditional approval, had to load my documents online a few hours later I was approved , accepted my documents on the web and within mins my loan account was on the go. to man and woman who works hard a big thank you and I am satisfied with my experience with nab team. a few suggestion with my fellow nab account holders when you doing documentation always use your computer as it is difficult to upload...with your mobile even if its web version. I always try to deal with one bank that way less questions when it comes to how money goes in and out that works to your favour too during assessment and credit checks (that's really works for me) we all different I guess.
They sent me the letter offering a personal loan so I decided to apply. Said I was conditionally approved but then notified me that more information was needed. I uploaded all requested documents through the Internet Banking site but then received a call from an obvious overseas NAB representative asking me all sorts of ridiculous questions and asking me for the documents I had just uploaded. They said to email them instead so I did. Received another call hours later during dinner time from NAB person over in India asking me the exact same ques...tions and asking for the same documents again. I told them I already answered these questions and sent everything. After the weekend I hadn't heard anything and then received an email that more information was needed and to check what was needed through Internet Banking site, I went and checked and there is nothing showing on my application that more information is needed. Sick of this bank. All of their call centres and customer service through online and phone are all overseas in India, half the time you cant understand them and they cant understand you and the whole process is unnecessarily long and just a complete mess. Dont waste your time. I have cancelled my application and going to close my account ASAP!!!
- Verified customer
Misleading information. Please avoid this bank, Worst Experience.
I have a savings account, credit card and business account with NAB. I had 2 personal loans which I have consolidated 2 months back because of high interest rates. Recently I received an offer from NAB through post that I will be getting a personal loan at 12.69%, no application fee, choice of variable or fixed. I applied for it and it got approved at 14.49%. I called NAB team multiple times, sent them the offer received but still they were reluctant to offer me the promised rate. I felt cheated as it was misleading. I wasted few hours talking to NAB team who doesn't have any sense of responsibility in handling customers. I asked them to cancel the approved application as they were not ready to reduce the Rate. Use less service...
3 applications all declined
I have applied for 3 personal loans on various occasions, with last 2 about 3 months a part, the first was declined because of a red flag on my credit report, I got my report took it back to them, and ask to have them show me the red flag on a perfectly clean report which they could not. The 2nd time was very recently there was a default recorded on my report, was told to clear it and wait a couple months before reapplying, so cleared it and waited until this morning, got declined again due to "generic financial situation remark". If you want or need a loan, go somewhere else.
- Verified customer
Loan unconditionally approved
Worth experience ever. Loan unconditionally approved.
But said no. Tried again lower amount. Again approved
This has gone on for over 4 weeks. Still nothing. Done all paperwork. But the bank I’m dealing with stay they busy. They won’t let me know what’s going on. Sent email and rang them but still not getting back to me.
It’s been over two weeks sense 2nd approval. What’s going on. I have no clue. I don’t like them now. So I’m going to try another bank.
Below Terrible---This bank needs to collapse
Worst experience ever, home loan now comes with so many conditions 12 hours before settlement despite everything being perfect.
word of advice NAB!!! -get rid of the clowns in India and inexperienced credit managers in Australia!
Stay away everyone....your money will never be safe when they have foreigners making decisions!
Glad to hear they will sack 6000 soon...Good riddance ...better yet if Nab collapses!!!
NAB - Rubbish!!!!! Don't bother. Simply appalling service
I applied for a personal loan after 15 years of being a customer with excellent credit rating / history. Loan was declined because I never "met the lending criteria"!!! I laughed at this thinking how??? What??? Nobody gave me the reason. And to this day Im still puzzled as to why this was declined. I attempted on numerous occasions to contact the loan manager that handles complaints. To this day, nobody ever returned my calls, emails and messages. All I wanted to know and have the right to know was the reason behind "not meeting lending criteria"!!!!! POOR BANK NAB!!!!!!!
Questions & Answers
Been approved for personal loan on line read and signed documents Friday still no funds , looked online despursment still processing?
Is my loan approved?
Hi Sandie, you should be contacted directly with the outcome - for more info you can either call the team on 132265 or send your details through to firstname.lastname@example.org and we'll follow this up for you ^TC
|Interest Rate||from 12.69% p.a.|
|Comparison Rate||from 13.56% p.a.|
|Repayment Frequency||Fortnightly, Monthly and Weekly|
|Loan Amount||A$5,000.00 to A$55,000.00|
|Loan Term||1 to 7 years|
|Rate Type||Fixed and Variable|
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