RACV Personal Loan
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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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 $205 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 OffersImportant Information*
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.
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.
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.
You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.