Pensioner Loans

Caravan Loans for Pensioners

Find the right caravan financing to get out onto the road and enjoy life during your retirement.

If you're heading into retirement, or are already a pensioner looking for a loan to finance a caravan, you might be trying to navigate the different options available to you. You first have to decide between secured and unsecured loans, but then also find a lender who will consider you for a loan while you are a pensioner. Being on the pension could mean that your income is limited, and could eliminate a number of lenders in your comparison.

The guide below will take you through everything you need to know to help you find the right type of caravan loan for you.

NRMA Caravan Loan Offer

NRMA Caravan Loan


5.99 % p.a.

fixed rate


6.53 % p.a.

comparison rate

  • 5 hour pre-approval
  • No monthly fees
  • Extra repayments at any time
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100% confidential application

NRMA Caravan Loan Offer

Apply for an NRMA Caravan Loan to purchase a new or used caravan and enjoy a great fixed interest rate.

  • Interest rate from: 5.99% p.a.
  • Comparison rate: 6.53% p.a.
  • Interest rate type: Fixed
  • Application fee: $380
  • Minimum loan amount: $5,000
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Comparison of caravan loans

Rates last updated December 15th, 2017
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
NRMA Caravan Loan
From 5.99% (fixed)
1 to 7 years
A competitive fixed rate to help you purchase a new or used caravan.
Latitude Personal Loan (Secured)
From 12.99% (fixed)
2 to 7 years
$250 (Loans under $4000 - $140)
Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.
IMB Secured Personal Loan
From 7.39% (fixed)
1 to 5 years
All approved applicants can access this competitive rate and use the loan to finance a range of purposes. Loan amounts up to $60,000 available.
bcu Secured Freedom Loan
From 9.08% (variable)
1 to 5 years
A competitive, secured personal loan that you can use for a variety of purposes.
RACV Personal Loan
From 7.49% (fixed)
1 to 7 years
You could use this personal loan offer from RACV to help finance a renovation, holiday or project.
RACQ Used Car Loans
8.95% (fixed)
5 years
Benefit from a competitive fixed rate and a 21-day satisfaction guarantee when purchasing a used car. Note: Loan only available to QLD residents.
St.George Secured Personal Loan - Fixed Rate
8.49% (fixed)
1 to 5 years
Get behind the wheel of your perfect car with a competitive interest rate from St.George. Get an application response within 60 seconds.
Bank of Melbourne Secured Personal Loan
From 8.49% (fixed)
1 to 5 years
A low rate personal loan from Bank of Melbourne with your choice of a fixed or variable rate.

Compare up to 4 providers

How does a caravan loan work?

Caravan loans are similar to car loans – they are secured loans that can purchase a vehicle. Except, instead of a car you will be purchasing a caravan. When you use the caravan as security for the loan you can secure a lower interest rate. This also means there are criteria as to what kind of caravan you can purchase with the loan, for instance whether it is new or used or how old it is. If the caravan you're purchasing isn't eligible for a secured personal loan you can use an unsecured personal loan.

You will usually be able to borrow up to and including the cost of the caravan, although you may also be able to include some additional costs in there as well, such as registration, insurance, or other costs associated with the purchase of your caravan. Check the terms of the loan before you apply.

"Can I get a caravan loan if I'm retired?"

Caravan loans are available to people in various financial situations, including pensioners. However, lenders differ on their eligibility criteria. Lenders usually have minimum income requirements and consider certain forms of income, so lenders offering caravan loans to pensioners may consider the age pension or super payments as income, or even consider income from rental payments. More specific information is provided in the table at the bottom of the page.

To get your application across the line, provide as much detail and documentation on your income streams and finances as possible.

Jump ahead to read more on caravan loan eligibility criteria for pensioners >>>

How to compare caravan loans if you receive Centrelink benefits

When shopping around for any loan you should compare what is available for you in order to get the best deal for your individual situation. When doing this there are certain factors you should look at to make the most informed decision possible.

  • The lender. Bear in mind that lenders have different policies when it comes to assessing applications that involved pensions. Most will say that a supplementary income is needed but some may let you rely solely on your pension. Take a look at the table below to get an idea of the criteria that applies.
  • Fees and charges. Application or establishment fees as well as monthly account-keeping fees should be compared so you can choose the loan that won’t hurt you as much financially.
  • Interest rates. While most caravan loans for pensioners give you the choice between fixed and variable rates, this isn’t a hard and fast rule. Compare the interest rates to get the most competitive option.
  • Loan terms. Generally, caravan loan terms vary between one and seven years. Select a term that won't make your repayments unmanageable but that also won't have you paying excessive interest at the end of the term.
  • Loan amounts. This is what you’ll want to look at initially since it’s the whole basis of the loan. Some caravan loans might not be enough to cover the purchase of the caravan along with the additional costs such as the registration and insurance while others might be too big for what you’re looking at.

What criteria do I need to consider when I'm applying?

Before submitting your application it's important to give yourself the best chance at being approved. Understanding the minimum eligibility criteria is taking the first step towards doing this. In the table below we've broken down the criteria you need to consider for each of the lenders when it comes to yourself and the caravan you want to purchase. Remember to consider all other aspects of the loan before submitting your application.

LenderLoans you could apply forCriteria to consider
ANZUnsecured Personal LoanMinimum income $15,000 p.a.Australian citizen, permanent resident or have a valid visa

If you're retired but have income from other sources, need proof of income

Bank of Melbourne Unsecured Personal LoanAge pension is not accepted as income
Caravans cannot be used as security for the loan
BankSA Unsecured Personal LoanAge pension is not accepted as income
Caravans cannot be used as security for the loan
Beyond BankFlexi Loan
Low Rate Loan
Minimum income $2,000 per month
Australian citizen or permanent resident
Age of caravan will determine the rate
CashfirstSecured Personal LoanMinimum income $20,000 p.a.
Australian resident
CUA Fixed Rate Car Loan Earn a regular income
Australian citizen or permanent resident
Maximum age of the caravan at the end of the term is 12 years
Latitude Financial ServicesPersonal Loan (Secured)Earn a regular income
Australian citizen or permanent resident
Minimum 50% of caravan/campervan for personal useMaximum age of the caravan at the end of the term is 12 years
NABNAB Car Loan (Variable Rate)Caravan is a suitable loan purpose (loan is unsecured)
Earn a regular income
Reside in AustraliaAustralian citizen, permanent resident, New Zealand citizen or 457 visaBe able to afford the loan repayments
RACQNew Car Loan
Used Car Loan
Australian citizen, permanent resident or be on an approved working visa
Be able to afford the loan repayments
Finance a new or used caravan
NRMACar LoanFinance a new or used caravan – new caravans over $15,000 receive a promotional rate
Applications handled on case-by-case basis

What are the benefits and drawbacks of these loans?

  • Flexible loan terms. With loans ranging from as little as one or two years and up to seven years you’ll have your choice of term options. You can choose to extend toward the seven-year mark and lower your repayments or you can choose the shorter term to pay off the debt sooner, also reducing the amount you pay in interest overall.
  • Choice of loan type. With both fixed and variable rate loans available on caravan loans you can pick the type of interest rate that suits you. If you enjoy knowing exactly what you’ll be paying each pay period you can pick a fixed interest rate but if you want to take advantage of favourable market conditions, a variable rate might be a good option. Keep in mind a variable rate also reflects unfavourable market conditions.
  • Fees and charges. These type of loans can carry additional fees and charges like application fees or establishment fees. This will obviously cost you additional money that you may not want to put out.

Things you may have to be wary of

  • Borrowing too much. With purchases like these it’s easy to borrow too much money in an attempt to cover all caravan-related expenses. While this may seem like a good idea at the time, you will end up with higher repayments which may hurt your overall financial situation. It may be a good idea to obtain pre-approval first, and then do the caravan shopping after.
  • Inflated interest rates or charges. Pensioners are considered high risk at times for various reasons. This can sometimes lead to inflated interest rates or additional fees to cover the lender’s possible losses. Compare caravan loans so you can pick the loan with the fairest fees and rates.

How to apply for a caravan loan

Once you find a lender to apply with, you’ll want to gather all the necessary information to apply for the loan. This information will usually be your proof of income, proper identification and financial records like bank statements or taxation documents.

At this point you’ll want to use the comparison table on this page to see what available caravan loan is best for you based on the features of the loan. Once you find the one that suits you, click "Go to Site" to submit your application. From there you’ll follow the prompts to apply for the loan.

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Related Posts

IMB New Car Loan

Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.

Beyond Bank Low Rate Car Loan "Special Offer"

A great rate for cars under 2 years old.

RACV New Car Loans

Enjoy this fixed rate new car loan offer from RACV. No ongoing fees.

Latitude Personal Loan (Secured)

Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.

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10 Responses

  1. Default Gravatar
    aApril 28, 2016

    So im doing for my mother she need cash loan is a pensioner she have a security for house she had an income what she had

    to do

    • Staff
      ElizabethMay 2, 2016Staff


      She can compare her options using the table above and click through to the individual lenders pages to find out if she is eligible. Once she’s found a loan that she’s eligible for and that she wants to apply for, she can click “Go to Site” to submit her application directly with the lender.

      Hope this has helped,


  2. Default Gravatar
    barbJanuary 14, 2016

    we are pensioners…
    we are looking for a loan for approx. 25000 to purchase a boat…we own our home outright…
    where/how/can we get a loan…perfectly happy to put titles up for security if needed
    thank you

    • Staff
      ElizabethJanuary 15, 2016Staff

      Hi Barb,

      Thanks for your question.

      I’m unable to recommend a specific lender to you but I can direct you to a few pages and guides that will help. First you can take a look here that has a list of banks that consider you for a loan while you’re receiving pension benefits – just click on the second tab “banks” to view the list. Click through to the page to view a list of available loans offered by a particular lender.

      You can also look at a comparison of boat loans on this page to find loans that may be suitable and secured loans on this page, where you may be able to use the equity you hold in your home as security to borrow for the boat.

      You can click “Go to Site” from any of these pages to get securely directed to any of the lenders website to find out more information on the product or to apply.

      I hope these pages and guides will be of use.



  3. Default Gravatar
    LeonOctober 14, 2015

    $760 per fortnight ,to repay a homeloan or caravan loan is there a good chance I could get one of these loans

    • Staff
      ElizabethOctober 15, 2015Staff

      Hi Leon,

      Thanks for your question.

      Your eligibility depends on your individual financial circumstances (your income, debts and assets) and your ability to manage the loan repayments. Review the eligibility criteria of the lender before you apply, which you can find listed on our review pages. If you are unsure of your eligibility it would be best to contact the lender before applying.

      I hope this has helped.



  4. Default Gravatar
    stephen@August 18, 2015

    Please explain why a pension has addition ricks,, is it the people that is the rick. Plus if your on a DSP then you are unable to work so why would they ask for part employment. I feel it is discrimination, I am looking to finance a mini bus to make a home so I don’t need to pay rent and I can have some security for the future and I don’t understand why a company can not see that without rent I have plenty of money to repay 20,000 dollars.
    What companies could I try. Help me please

    • Staff
      ElizabethAugust 19, 2015Staff

      Hi Stephen @ coolie,

      Thanks for your question.

      Lenders use a variety of different criteria to determine your ability to manage repayments on a loan. They usually look at your the stability of your income, your assets, your debts and your employment situation. This helps them determine the level of risk they take on by lending to you. Unfortunately you may not always meet this criteria. You may want to get in contact with a few lenders, including banks and credit unions, to discuss your situation and eligibility and see what options you may have.



  5. Default Gravatar
    V.BhavaniMay 12, 2015

    n I am female citizen of India. I am drawing family Pension of Rs.15,730 per month. I need Rs. 2lakh as loan. Iam drawing central govt pension every month.

    • Staff
      ElizabethMay 13, 2015Staff

      Hi V.Bhavani,

      Thanks for your question.

      You’ve come through to an Australian financial comparison site, so the lenders on this page require that you reside on Australia or hold some form of Australian residency. Unfortunately you may need to look elsewhere to find loans that you may be eligible for.



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