RACV Personal Loan

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Take advantage of pre-approval and a competitive rate of 6.49% p.a. with this secured personal loan from RACV.

This personal loan from RACV lets you borrow funds for whatever purpose you have. By securing an asset to the loan you can take advantage of a competitive interest rate. There are also no ongoing account-keeping fees and fast approval within 24 hours. Find out more about how the loan works in this review.

From 6.49% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount

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Product NameRACV Personal Loan
Interest Rate (p.a.)
From 6.49% (fixed)
Comparison Rate (p.a.)7.19%
Interest Rate TypeFixed
Min Loan Amount$5,000
Max. Loan Amount$30,000
Loan SecuritySecured

Main points to consider with the RACV Personal Loan

The RACV Personal Loan comes with a fixed interest rate of 6.49% p.a. The loan attracts a $499 application fee but does not have any ongoing account-keeping fees.

If you are specifically looking to purchase a car, RACV offers a car loan with an even lower interest rate and optional extras for your warranty and insurance.

Features of the RACV Personal Loan

  • Interest rate. There is a fixed interest rate of 6.49% p.a. for the life of the loan. The comparison rate is 7.19% p.a. (based on $30,000 over five years).
  • Convenient repayment options. RACV works with you to set up direct debit payments that will line up with when you get paid. You have the option of making these repayments either fortnightly or monthly.
  • Make extra repayments. Extra repayments can also be made at any point during your loan but there is a charge of if you repay the loan in full before 75% of the loan term is through.
  • Loan terms and amount. You can choose loan terms between 1 to 7 years, with a minimum loan amount of $5,000.
  • Secured loan. You will need to nominate an asset as collateral for this loan.
  • Application and late payment costs. There is an upfront application fee of $499 for the RACV Personal Loan. No ongoing administration fees are charged for the life of the loan but there is a late payment fee.

How to apply for the RACV Personal Loan

If you'd like to get your application process started, you can do so by clicking "Go to Site". First, check you meet the eligibility criteria outlined below. You must:

  • Be 18 years of age or older
  • Be an Australian citizen or permanent resident
  • Be in regular, ongoing employment
  • Have had no loan or credit card defaults in the last three years
  • Have not filed for bankruptcy in the past seven years
  • Be looking to borrow at least $5,000

You'll also need to provide the following information:

  • Australian driver's licence
  • Details from your employer including name, address, contact details
  • Details of your financial position including income, assets, expenses and debts

You can complete the application process online or over the phone. It will take approximately 10 minutes and, in most cases, you will be approved and have access to the funds within 24 hours.

To make sure you're getting the right loan for your needs, make sure you compare all of your options before you apply.

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 25.69% 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. Note: These rates are available until 2 February 2021. Credit, eligibility criteria and terms & conditions apply.

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

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% 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.

Ask an expert

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    Default Gravatar
    February 19, 2018

    What is the minimum income requirements usually for a small loan with RACV?

      Default Gravatar
      March 9, 2018

      Hi Brett,

      Thanks for leaving a question on finder.

      It is not specified what the minimum income requirement is. As long as you have proof of regular income from your employer and the other criteria listed on the page above, you will be approved for a loan.


    Default Gravatar
    October 30, 2017

    I am self employed, will I be able to qualify for a loan for a new caravan?

      Avatarfinder Customer Care
      October 31, 2017

      Hi Stephen,

      I hope all is well with you today. Thanks for contacting finder, a comparison website and general information service.

      Some lenders may require additional details for self-employed borrowers. It is best to review the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant Product Disclosure Statements / Terms & Conditions of the loan option before making a decision and consider whether the product or option is right for you.

      You may go to this page to read the tips in applying for a personal loan.

      There are also other options in this link.

      I hope this helps.

      Best regards,

    Default Gravatar
    November 3, 2016

    What is the maximum age a car can be to be used as insurance for a secured loan? Mine is 8 years old.

      Avatarfinder Customer Care
      November 10, 2016

      Hi Annalise,

      Thanks for your question.

      In a secured car loan, the restrictions on the age of the vehicle vary among lenders. Some even have restrictions on some makes and models of cars. You can directly get in touch with the lender you are interested in to enquire about this.


    Default Gravatar
    April 24, 2016

    how much would weekly repayments be for a personal loan of $11000 over 7 and what is the rate

      Avatarfinder Customer Care
      April 26, 2016

      Hi Pam,

      Using this personal loan calculator I worked out that your weekly repayments would be $41 based on RACV’s starting interest rate of 9.15% p.a. Keep in mind your interest rate may be different depending on what you’re approved for.

      Hope this has helped,


    Default Gravatar
    February 13, 2016

    Can you please confirm the maximum loan amount for a debt consolidation loan?

      Avatarfinder Customer Care
      February 15, 2016

      Hi Scott,

      The maximum loan amount with RACV personal loan for debt consolidation is $35,000.


    Default Gravatar
    February 13, 2016

    To get a fixed rate of 9.15% does this have to be secured by an asset. If so a block of land ok but do you lodge a second mortgage or caveat?

      Avatarfinder Customer Care
      February 15, 2016

      Hi Greg,

      With the RACV Personal Loan you will need to nominate an asset as collateral for the loan. Unfortunately this asset can only be a car associated with no other loans, and a model no earlier than 2008. Alternatively, if you own a home, they can use that as a security. A block of land does not qualify as an asset with this loan type.



    Default Gravatar
    January 2, 2016

    I am a retired person Have had two previous loans from racv.Can I still get a loan from racv

    Default Gravatar
    July 19, 2015

    Who are RACV loans underwritten by?

      Avatarfinder Customer Care
      July 21, 2015

      Hi Anne-Marie,

      Thanks for your comment. RACV do not make this information publicly available. If you need this information, please contact RACV directly using the above go to site links.


    Default Gravatar
    July 16, 2015

    HI there I would like to consolidate a personal loan and credit card and buy a car. I have an old default on my Credit REport from 5 years ago and has been marked as paid in full and due to come off in October. I notice that you have said 3 years for defaults. Would I be eligible for a loan with you? TIA

      Default Gravatar
      July 27, 2015

      Hi Leigh,

      Thank you for your comment.

      You have come through to finder.com.au, a financial comparison website, please use the above “Go to site” button to contact RACV directly to discuss your lending needs.


    Default Gravatar
    July 15, 2015

    Is this personal loan rate of 9.15% available to pensioners?.

      Avatarfinder Customer Care
      July 16, 2015

      Hi Rochelle,

      Thanks for your question.

      Unfortunately to be eligible for this loan you need to be in regular, ongoing employment. You can find loans available to pensioners on this page.

      I hope this has helped.



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