RACQ Bank Personal Loan Special

A simple personal loan for Queensland residents.

If you're looking to make a large purchase, are planning a holiday or want to invest in something, an unsecured personal loan such as this offering from RACQ is one to consider. RACQ offers you a competitive rate and easy repayments for a loan you can pay off over a term up to 5 years. To find out if this loan is for you, read the review below.

3 things you should know about this loan

  • Flexible repayments. There is no minimum loan term, you can make unlimited additional repayments and there is no penalty for early repayments.
  • Member discounts. When you're approved for the loan you automatically become a member of RACQ and can take advantage of a range of discounts.
  • Only for Queensland residents. You must reside in Queensland to apply for this loan.
Product NameRACQ Bank Personal Loan Special
Interest Rate (p.a.)9.54% (variable)
Comparison Rate (p.a.)9.83%
Interest Rate TypeVariable
Min Loan Amount$3,000
Max. Loan Amount$60,000
Loan SecurityUnsecured


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


  • $200 establishment fee
  • You must reside in Queensland

Main points to consider with the RACQ Personal Loan Special.

The RACQ Unsecured Personal Loan comes with a fixed rate of interested from 9.54% 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, paying for your education or for debt consolidation.

Features of an RACQ Personal Loan Special

There are various features that make this loan worth considering:

  • Interest rate. You'll be offered a fixed interest rate from 9.54% 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 will the loan cost?

The loan comes with a fixed rate of interest starting from 9.54% p.a., with the comparison rate starting from 9.83% p.a. The rate you are offered is subject to RACQ's lending criteria, and you can check it in your loan contract. You will also pay a $200 establishment fee

Here's how to apply for RACQ's Personal Loan Special

If you're ready to apply with RACQ, click "Go to Site" to start your application. 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.

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8 Responses

  1. Default Gravatar
    MariNneOctober 1, 2018

    I applied for a loan with my bank. My credit rating is good but they denied me because of too many credit enquiries. They advised applying after 6 months, I did buy a few items on 6 months interest-free and have had 3 loans with cash converters which I paid out. Will it be the same scenario if I apply with your company?

    • Avatarfinder Customer Care
      JhezOctober 4, 2018Staff

      Hello Marinne,

      Thank you for your comment.

      After six months of being up to date to your repayments, there might be an increase with your credit rating. I suggest you access your free credit score and free credit report to have an idea.

      With RACQ, please refer to the eligibility criteria above and see your eligibility. Please note that each lender has their own set of criteria that are not being disclosed. Please contact the bank and check your eligibility before submitting an application. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  2. Default Gravatar
    JakeFebruary 8, 2018

    Hi there, before I apply for a loan I am hoping to find the lender most likely to approve a loan for me. I am currently casual employment and have been employed with the same company for 9 months now. I make 840 after tax weekly and spend on all my living costs about 500. I own a car worth 7-8 grand and am hoping t o buy a second vehicle a ute for 5-6000$ and have money to put towards some tools to make extra money after work. Im hoping to get a 10000 loan and have repayments of 70-80$ a week.. what is my best choice to find the lender that will most likely lend to me? Btw I have no other loans

    • Avatarfinder Customer Care
      RenchFebruary 28, 2018Staff

      Hi Jake,

      Thanks for your inquiry.

      There are possible lenders you can speak to for your loan options and chances approval on this page.

      Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online if you think you’re ready.

      Best regards,

  3. Default Gravatar
    DanielApril 5, 2017

    If i pay out a loan earlier than expected is there any charges?

    • Avatarfinder Customer Care
      HaroldApril 5, 2017Staff

      Hi Daniel,

      Thank you for your inquiry.

      Basically, you have the choice of fortnightly or monthly repayments via direct debit. You can also make extra repayments at any time.

      I hope this information has helped.


  4. Default Gravatar
    kimJuly 9, 2016

    I wanted to borrow $25K P/L asap, thanks

    • Avatarfinder Customer Care
      ElizabethJuly 11, 2016Staff

      Hi Kim,

      If you meet the minimum criteria you can submit your application on RACQ’s website.

      I hope this helps,


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