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Consolidating credit card debt into personal loan

For more information, check out: Rates and information current as at 15 January 2018 and subject to change.NAB personal variable loan rate includes special discount off standard variable personal loan indicator rates which is available on new loans and for a limited time.To find out if debt consolidation is the right approach for you, you should consider getting independent financial advice.See au for useful information on managing your debts.

This is generally the best option for consolidating credit card debt.The main benefit of a personal loan is that it has a fixed term.That means repayments are calculated so that at the end of the loan period your debt is cleared. Get your salary paid into the account to establish a transaction history. This won’t guarantee approval on your application but, it will help us understand your financial position better. Set up a regular savings plan Show you can afford to service a loan by saving a set amount regularly (every week or month). Check how much you can borrow Use our Borrowing Calculator to get an idea of how much you may be able to borrow. Build a good account history with us · Got a NAB account? Open a transaction account and pay your salary into it to start your transaction history.WARNING: This comparison rate applies only to the example or examples given.Different amounts and terms will result in different comparison rates.If you opt to keep your repayments the same, your mortgage will take longer to pay off.In both cases, you will likely end up incurring more interest over the long term compared to other options. If you are finding your debt difficult to manage, the earlier you take action the better. Some of the ways we may be able to help Westpac customers include: If you are a Westpac customer and experiencing difficulty making your loan or credit card repayments, please call Westpac Assist on 1800 067 497.If this sounds familiar, there are actions you can take to rein in your debt and pay it off sooner. Simply put, that’s one loan, one regular repayment, one interest rate and one set of loan fees.Step 1: Gather information about all your debts To take control of your debt it is essential to know how much debt you have.

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