RACV Personal Loan

This loan is secured and comes with pre-approval. Interest rates start from 6.49% p.a. but can range up to 18% p.a.

This personal loan from RACV lets you borrow up to $30,000. This loan is secured and requires an asset as collateral. While the loan has no ongoing fees, there’s an application fee of $499, and you will be charged a penalty if you repay the loan early. Interest rates start from 6.49% p.a., but can be as much as 18% p.a., depending on your borrowing profile, membership with RACV and the number of years you’ve been a member.

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From 6.49% (fixed)

Interest Rate (p.a.)

7.19%

Comparison Rate (p.a.)

$5,000

Min Loan Amount

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Details

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.

Compare other personal loans

$
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 variable rate from 5.75% p.a. to 25.99% p.a.

Borrow up to $50,000 and earn 1 Qantas Point for every $1 borrowed.

⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Plenti Personal Loan

From 5.43% (fixed)
5.43%
$2,001
3 to 7 years
$0 to $999
$0
You'll receive a fixed rate between 5.43% 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.

⭐ Finder Exclusive: Eligible applicants with excellent credit will receive rates starting from 5.43% p.a. (comparison rate 5.43% p.a.). Offer ends 31 July 2021. T&Cs apply.

Citi Personal Loan Plus
8.90% (variable)
9.18%
$5,000
3 to 5 years
$199
$0
You'll receive a guaranteed rate of 8.90% p.a. with a comparison rate of 9.18% p.a. if you're approved. Note: This rate may vary during the loan term.
A credit limit up to $75,000 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. The interest rate doesn’t change based on your risk profile, so you know your rate before you apply.
Harmoney Unsecured Personal Loan

From 5.35% (fixed)
6.14%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 5.35% p.a. and 19.09% 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.
Alex Bank Personal Loan

From 5.45% (fixed)
5.45%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.45% 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 11 August 2021.
SocietyOne Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 5.95% 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.
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
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
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: Apply and settle a NOW Finance debt consolidation loan via Finder by 30 September 2021 for your chance to win $2000 paid off your debt. T&Cs apply.
OurMoneyMarket Personal Loan

From 5.45% (fixed)
6.07%
$2,001
1 to 7 years
From $250 to $450
$0
You'll receive a fixed rate from 5.45% 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.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

⭐Special Offer: Secure a reduced interest rate of 8.99% p.a. for a limited time only. Apply for up to $50,000 to use for a variety of purposes without needing to add security.
Wisr Personal Loan

From 6.49% (fixed)
6.76%
$5,000
3 to 7 years
$195
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% 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.

⭐Special Offer: Wisr's standard establishment fee $595 will be reduced to $195 for applications submitted through Finder. T&Cs apply.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
Heritage Bank Fixed Personal Loan
7.99% (fixed)
8.62%
$5,000
1 to 7 years
$200
$5
Choose a fixed rate loan and receive a comparison rate of 8.62% p.a.
Fixed rate loans are available up to $100,000 on terms from 1 to 7 years.
Plenti Variable Rate Personal Loan

From 5.43% (variable)
5.43%
$2,001
1 to 3 years
$0 to $999
$0
You'll receive a variable rate from 5.43% p.a and 17.89% 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.

⭐ Finder Exclusive: Eligible applicants with excellent credit will receive rates starting from 5.43% p.a. (comparison rate 5.43% p.a.). Offer ends 31 July 2021. T&Cs apply.
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
Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
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Personal Loan Offers

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

You'll receive a fixed rate between 5.35% p.a. and 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 8.99% 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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36 Comments

    Default Gravatar
    Brett
    February 19, 2018

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

      Default Gravatar
      Joel
      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.

      Cheers,
      Joel

    Default Gravatar
    Stephen
    October 30, 2017

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

      Avatarfinder Customer Care
      Judith
      October 31, 2017

      Hi Stephen,

      I hope all is well with you today. Thanks for contacting Finder.

      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 can check our list of Caravan Loans or Low Doc Car Loans since you are self-employed and need to finance a car. Both pages have a comparison table you can use to see which lender suits you. Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.

      I hope this helps.

      Best regards,
      Judith

    Default Gravatar
    Annalise
    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
      Dee
      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.

      Cheers,
      Anndy

    Default Gravatar
    pam
    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
      Elizabeth
      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,

      Elizabeth

    Default Gravatar
    Scott
    February 13, 2016

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

      Avatarfinder Customer Care
      Elizabeth
      February 15, 2016

      Hi Scott,

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

      Elizabeth

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