In this guide

  • Review
  • Details
    • Product details
  • How does the RACQ Personal Loan Special work?
  • How to apply
  • Features of this loan
  • How much does the RACQ Personal Loan Special cost?
  • Compare other personal loans
  • Your reviews
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RACQ Bank Personal Loan Special

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Interest Rate (p.a.)
9.99%
Comp. Rate (p.a.)
10.27%
Min Loan Amount
$3,000

Summary

This loan allows you to borrow from $3,000 up to $60,000. This loan is available for Queensland residents only.

RACQ offers a variable rate personal loan from $3,000 up to $60,000. As the rate is variable, your interest rate payments will fluctuate on a month to month basis depending on the market rate. Loan terms are up to 5 years and the interest rate is 9.99% p.a.

3 things you should know about this loan

  • You must reside in Queensland to apply for this loan.
  • No annual or monthly fees, no early pay-out fees and unlimited additional payments available.
  • Costs include an establishment fee of $195 and a document reparation fee of $0.

Pros

  • No minimum loan term
  • No establishment fee
  • No penalty for early repayment
  • Low minimum borrowing amount

Cons

  • You must reside in Queensland

In this guide

  • Review
  • Details
    • Product details
  • How does the RACQ Personal Loan Special work?
  • How to apply
  • Features of this loan
  • How much does the RACQ Personal Loan Special cost?
  • Compare other personal loans
  • Your reviews

Details

Product details

Product Name RACQ Bank Personal Loan Special
Interest Rate (p.a.) 9.99%
Comp. Rate (p.a.) 10.27%
Interest Rate Type Variable
Min Loan Amount $3,000
Max. Loan Amount $60,000
Loan Security Unsecured

How does the RACQ Personal Loan Special work?

The RACQ Unsecured Personal Loan comes with a variable rate of interested from 9.99% p.a., with the actual rate being offered to you in your loan contract. You can apply for a loan amount between $3,000 and $60,000 and have up to 5 years to repay.

This loan is suitable for a range of purposes, from making a large purchase such as a new or used vehicle, furniture, taking a holiday or paying for your education.

How to apply

If you're ready to apply with RACQ, you can apply online. It will only take around ten minutes to complete and you should find out if you've been approved within five hours. You'll need to meet the following eligibility criteria to apply for the loan:

  • Over the age of 18
  • An Australian citizen or permanent resident
  • Reside in Queensland
  • Able to manage the loan repayments

Make sure you have the following on hand to complete your application:

  • Personal details. Your name, address and contact information.
  • Employment. Your employer's name and details about your employment.
  • Financial. Details of your income, assets and liabilities.

Once you've sent through your application an RACQ finance consultant may be in touch to clarify information provided in your application.

Features of this loan

There are various features that make this loan worth considering:

  • Interest rate. You'll be offered a variable interest rate from 9.99% p.a.
  • Loan amounts. Apply for between $3,000 and $60,000.
  • Flexible repayments. You can make unlimited additional repayments and there is no penalty for early repayment.
  • No minimum loan term. The maximum loan term is 5 years and there is no minimum loan term
  • Quick application and approval. The application doesn't take long, and you can usually find out if you've been approved within 24 hours.
  • Member discounts. By getting an RACQ personal loan you will become an RACQ member and get access to a range of discounts.

How much does the RACQ Personal Loan Special cost?

The loan comes with a variable rate of interest starting from 9.99% p.a., with the comparison rate starting from 10.27% p.a. The rate you are offered is subject to RACQ's lending criteria, and you can check it in your loan contract.

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NOW Finance No Fee Unsecured Personal Loan
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Interest Rate (p.a.)
6.75%
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Comp. Rate (p.a.)
6.75%
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OurMoneyMarket Personal Loan
Finder award winnerFixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
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Comp. Rate (p.a.)
7.19%
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Application Fee
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Harmoney Unsecured Personal Loan
Finder award winnerFixed3 - 7 Years $2,000 - $70,000
Interest Rate (p.a.)
5.76%
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Comp. Rate (p.a.)
6.55%
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Application Fee
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Monthly Repayment
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NAB Personal Loan Unsecured Fixed
Fixed1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
8.05%
to 21.49%
Application Fee
$250
Monthly Fee
$10
Monthly Repayment
$943.89
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NAB Personal Loan Unsecured Variable Rate
Variable1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
8.05%
to 21.49%
Application Fee
$250
Monthly Fee
$10
Monthly Repayment
$943.89
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ING Personal Loan
Finder award winnerFixed2 - 7 Years $5,000 - $60,000
Interest Rate (p.a.)
6.89%
to 18.99%
Comp. Rate (p.a.)
7.10%
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Application Fee
$150
Monthly Fee
$0
Monthly Repayment
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