RACQ Personal Loan Special: Reviews, rates and fees | finder.com.au

RACQ Bank Personal Loan Special

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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.


From 9.34% (variable)

Interest Rate (p.a.)

9.75%

Comparison Rate (p.a.)

$3,000

Min Loan Amount

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Details

Product NameRACQ Bank Personal Loan Special
Interest Rate (p.a.)
From 9.34% (variable)
Comparison Rate (p.a.)9.75%
Interest Rate TypeVariable
Min Loan Amount$3,000
Max. Loan Amount$60,000
Loan SecurityUnsecured

Main points to consider with the RACQ Personal Loan Special

The RACQ Unsecured Personal Loan comes with a variable rate of interested from 9.34% 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.

Features of an RACQ Personal Loan Special

There are various features that make this loan worth considering:

  • Interest rate. You'll be offered a variable interest rate from 9.34% 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 variable rate of interest starting from 9.34% p.a., with the comparison rate starting from 9.75% 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 and a document preparation fee of $82.50.

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.

Compare other personal loans

Data updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Symple Loans Personal Loan

From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
Harmoney Unsecured Personal Loan

From 6.99% (fixed)
7.79%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
Plenti Personal Loan

From 6.39% (fixed)
6.39%
$2,001
3 to 7 years
$0 to $999
$0
You'll receive a fixed rate between 6.39% p.a. and 17.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
Citi Personal Loan Plus
8.90% (variable)
9.18%
$5,000
3 to 5 years
$199
$0
You'll receive a variable rate of 8.90% p.a. with a comparison rate of 9.18% p.a.
A credit limit up to $40,000 that you can continue to draw down over terms up to 5 years. Note: Monthly account service fee will be waived for applications submitted before 30 September 2021.
Alex Personal Loan

From 5.49% (fixed)
5.49%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.49% p.a. to 19.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years. Note: The $295 establishment fee will be waived for loan applications submitted by 3 May 2021
OurMoneyMarket Personal Loan

From 5.35% (fixed)
6.31%
$2,001
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 5.35% p.a. to 20.99% p.a. based on your risk profile
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.


⭐ Finder Exclusive: Apply before April 30th to secure a discounted rate of 5.35% p.a. (comparison rate: 6.31% p.a.) for the first 12 months.
NOW Finance No Fee Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
No Establishment Fee
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.


⭐ Finder Exclusive: Get a free $200 Westfield e-gift card once your loan application has settled. Offer ends on 30 April 2021. T&Cs apply.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.24%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 22.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
SocietyOne Unsecured Personal Loan (2-3 years)

From 6.39% (fixed)
6.39%
$5,000
2 to 3 years
from 0% to 5% of the loan amount
$0
You'll receive a fixed rate between 6.39% p.a. and 17.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
SocietyOne Unsecured Personal Loan (5 years)

From 6.39% (fixed)
6.39%
$5,000
5 years
from 0% to 5% of the loan amount
$0
You'll receive a fixed rate between 6.39% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
Wisr Personal Loan

From 6.49% (fixed)
6.76%
$5,000
3 to 5 years
$595
$0
You'll receive a fixed rate between 6.49% p.a. and 19.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.
CUA Unsecured Fixed Rate Personal Loan
9.39% (fixed)
9.64%
$5,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 9.39% p.a.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
Plenti Variable Rate Personal Loan

From 6.39% (variable)
6.39%
$2,001
1 to 3 years
$0 to $999
$0
You'll receive a variable rate from 6.39% p.a and 16.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 12 months. Benefit from transparent costs and a rate estimate before you apply.
Pepper Money No Fee Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
$0
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $50,000 and use for a range of purposes. Pay no upfront, early repayment or ongoing fees.
CUA Unsecured Variable Personal Loan
11.89% (variable)
12.15%
$5,000
1 to 7 years
$175
$0
You'll receive a variable rate of 11.89% p.a.
Borrow from $5,000 with the option for flexible repayments and no monthly fees.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 6.99% p.a. and 18.99% p.a. (7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes. Benefit from fee-free additional repayments and a redraw facility. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
People's Choice CU Discounted Personal Loan

From 7.99% (fixed)
8.35%
$10,000
1 to 10 years
$250
$0
You'll receive a fixed rate from 7.99% p.a. for 5 years
Secure this loan with a vehicle up to 7 years old and benefit from long loan terms up to 10 years and pre-approval.
People's Choice CU Unsecured Personal Loan (Low Rate)
8.99% (fixed)
10.73%
$2,000
1 to 7 years
$250
$0
You’ll receive a fixed rate from 8.99% p.a. based on your risk profile
Borrow between $2,000 and $40,000 up to 7 years. No penalties for early payout or additional repayments and no monthly account fee.
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Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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8 Comments

    Default Gravatar
    MariNne
    October 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
      Jhez
      October 4, 2018

      Hello Marinne,

      Thank you for your comment.

      After six months of being up to date with your repayments, there might be an increase in 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 chatbox on the lower right corner of our page.

      Regards,
      Jhezelyn

    Default Gravatar
    Jake
    February 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
      Rench
      February 28, 2018

      Hi Jake,

      Thanks for your inquiry.

      For as long as you have a good credit history, a regular income, and can show that you have the ability to repay, there may be a lender that can work with you. To help you, please refer to our list of personal loans for casual employees. You can compare your options on the table displaying the available lenders based on rates, minimum loan amount, term, fees, and your projected monthly repayment. You may then click the “Go to site” button to submit your loan application online if you think you’re ready.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Best regards,
      Rench

    Default Gravatar
    Daniel
    April 5, 2017

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

      Avatarfinder Customer Care
      Harold
      April 5, 2017

      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.

      Cheers,
      Harold

    Default Gravatar
    kim
    July 9, 2016

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

      Avatarfinder Customer Care
      Elizabeth
      July 11, 2016

      Hi Kim,

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

      I hope this helps,

      Elizabeth

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