In 1995, while working on the television series Full Frontal, Bana began dating Rebecca Gleeson, a publicist with the Seven Network and daughter of then Chief Justice of New South Wales, and later Chief Justice of Australia, Murray Gleeson. They marri

In 1995, while working on the television series Full Frontal, Bana began dating Rebecca Gleeson, a publicist with the Seven Network and daughter of then Chief Justice of New South Wales, and later Chief Justice of Australia, Murray Gleeson. They married in 1997, after Bana proposed to her on a trip to the United States that he won from Cleo Magazine after being named "Bachelor of the Year" in 1996. Bana and Gleeson have two children, a son Klaus (born July 1998), and a daughter Sophia (born April 2001). Since the birth of his son, Bana has limited his work to one film per year so he can spend time with his family at their home in Melbourne.

Bana is a motor racing enthusiast, and participates in various motor racing competitions in Australia. At the age of fourteen, Bana wanted to leave school to focus full-time on becoming a motor mechanic, but his father convinced him to complete school, advising him to avoid making his hobby a job. Bana purchased his first car, a 1973 XB For