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RACQ Personal Loans

RACQ personal loans can help your budget add up if you have a renovation project, travel goals, or other plans in the pipeline. Use BestFind’s product table and calculator to compare options now. If you decide to apply, RACQ has a range of member benefits waiting for you.

A choice of loan terms to suit you. Simple application process. No penalty fees if you choose to pay off your loan faster.

Overview

Minimum loan amount$3,000

Maximum loan amount$60,000

Minimum term (years)1 month

Maximum term (years)5 Years

Personal loan interest rates (base)12.95%

Personal loan comparison rate13.25%

Monthly repayments (approx)$343

Total repayments (approx)$12,363

Total interest repayments (approx)$2,363

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$200

GO TO RACQ

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$10

For debt consolidation?Yes

Sponsored No

Telephone13 19 05

Data accurate as of14/12/2018

GO TO RACQ

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A great rate and low fees to help you manage your new repayment plan. Loyalty discounts on establishment fees for members. No restrictions on repayments so you can pay off the loan sooner Access to great savings and discounts on entertainment, travel, homewares, automotive and more.

Overview

Minimum loan amount$3,000

Maximum loan amount$60,000

Minimum term (years)1 month

Maximum term (years)5 Years

Personal loan interest rates (base)12.95%

Personal loan comparison rate13.25%

Monthly repayments (approx)$343

Total repayments (approx)$12,363

Total interest repayments (approx)$2,363

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$200

GO TO RACQ

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$10

For debt consolidation?Yes

Sponsored No

Telephone13 19 05

Data accurate as of14/12/2018

GO TO RACQ

Hide info -

Achieve your goals sooner with our great, low rate personal loans.

Overview

Minimum loan amount$3,000

Maximum loan amount$60,000

Minimum term (years)1 month

Maximum term (years)5 Years

Personal loan interest rates (base)12.95%

Personal loan comparison rate13.25%

Monthly repayments (approx)$343

Total repayments (approx)$12,363

Total interest repayments (approx)$2,363

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$200

GO TO RACQ

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$10

For debt consolidation?Yes

Sponsored No

Telephone13 19 05

Data accurate as of14/12/2018

GO TO RACQ

Hide info -

No exit fees if you pay your loan off early. Simple online application, which takes about 10 minutes. Discounts on home improvement services, homewares and more.

Overview

Minimum loan amount$3,000

Maximum loan amount$60,000

Minimum term (years)1 month

Maximum term (years)5 Years

Personal loan interest rates (base)12.95%

Personal loan comparison rate13.25%

Monthly repayments (approx)$343

Total repayments (approx)$12,363

Total interest repayments (approx)$2,363

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$200

GO TO RACQ

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$10

For debt consolidation?Yes

Sponsored No

Telephone13 19 05

Data accurate as of14/12/2018

GO TO RACQ

Hide info -

A choice of loan terms to suit you. Simple application process. No penalty fees if you choose to pay off your loan faster.

Overview

Minimum loan amount$3,000

Maximum loan amount$60,000

Minimum term (years)1 month

Maximum term (years)5 Years

Personal loan interest rates (base)12.95%

Personal loan comparison rate13.25%

Monthly repayments (approx)$343

Total repayments (approx)$12,363

Total interest repayments (approx)$2,363

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$200

GO TO RACQ

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$10

For debt consolidation?Yes

Sponsored No

Telephone13 19 05

Data accurate as of14/12/2018

GO TO RACQ

Hide info -

Pay ZERO fees^ on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What's more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. ^Charges such as default or enforcement costs may apply if you do not comply with the terms of your loan. Comparison rate can vary from 5.95% to 17.95%

Overview

Minimum loan amount$8,000

Maximum loan amount$50,000

Minimum term (years)1.5 years

Maximum term (years)7 Years

Personal loan interest rates (base)5.95%

Personal loan comparison rate5.95%

Monthly repayments (approx)$303

Total repayments (approx)$10,943

Total interest repayments (approx)$943

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$0

GO TO Now Finance

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$35

For debt consolidation?Yes

Sponsored Yes

Telephone1300 275 669

Data accurate as of23/02/2021

GO TO Now Finance

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OurMoneyMarket offer competitive low rates on loans up to $50,000, plus free extra repayments and fee-free redraw facility.

Overview

Minimum loan amount$2,001

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)7 Years

Personal loan interest rates (base)5.45%

Personal loan comparison rate6.07%

Monthly repayments (approx)$309

Total repayments (approx)$11,134

Total interest repayments (approx)$1,134

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO OurMoneyMarket

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 990 115

Data accurate as of30/06/2021

GO TO OurMoneyMarket

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Fast and easy online application. Money can be in your account same-day. Flexible repayments with no early exit fees. Comparison interest rates from 7.64% to 13.32% p.a.

Overview

Minimum loan amount$2,100

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)5 years

Personal loan interest rates (base)6.25%

Personal loan comparison rate7.64%

Monthly repayments (approx)$320

Total repayments (approx)$11,547

Total interest repayments (approx)$1,547

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$495

GO TO MoneyMe

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly/Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$15

For debt consolidation?Yes

Sponsored Yes

Telephone1300 329 037

Data accurate as of03.03.2021

GO TO MoneyMe

Hide info -

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

What type of loan are you looking for?

RACQ personal loans – Find flexible finance for Queenslanders

In 2017, RACQ Bank was born following a merger with QT Mutual Bank. This move meant Queenslanders now had a better alternative to shareholder-owned financial institutions. That’s because, as a mutual bank, RACQ is member-owned and exists to benefit members instead of to make profits.

In that regard, RACQ personal loans could be right for you, especially if you’re looking for a borrowing experience with a cherry on top, such as access to member benefits. Here are the need-to-know details.

RACQ personal loans: Key product details

  • Loan amounts – $3K-$60K
  • Loan terms – Up to 5 years
  • Interest rate – 9.34%
  • Interest rate type – Variable rate
  • Pros – Quick online application and approval. You can also make free, unlimited repayments.
  • Cons – Available only to Queensland residents. There’s also no redraw facility to access your extra repayments.
  • Best for – Residents of Queensland looking for a community-owned financial institution that offers benefits to members.

Types of loans offered by RACQ

RACQ unsecured personal loans are your best bet if you’re looking to finance things like holiday and travel costs or a wedding. You don’t need an existing asset to apply. RACQ also offers a debt consolidation loan that brings your debt into one place, making it easier to manage.

Other products include RACQ car loans. These are secured and therefore come with a lower, competitive rate. You can use them to finance a new or used car, boat, caravan, jet ski, plus more.

A closer look at RACQ personal loan features

  • When it comes to repayments, RACQ offers flexible options that enable you to clear your debt weekly, fortnightly or monthly. You can also save on interest by making free, unlimited additional repayments should you wish to close your account at an earlier date. If you’re wondering what your repayments might look like, use our RACQ personal loan calculator.
  • RACQ Bank personal loans come with flexible loan amounts. The minimum is $3,000, which is handy for borrowers seeking a smaller lump sum. Typically unsecured loans offer up to $50,000 but RACQ has a $60,000 limit which allows you to do more.
  • Maximum terms go up to 5 years, which is a bit restrictive compared to the 7 years offered by other lenders.
  • RACQ member benefits include travel and accommodation discounts as well as discounts on movies and events, theme parks and attractions, plus more.

Fees and charges

  • Establishment fee (unsecured personal loan) – $200
  • Establishment fee (secured car and boat loans) – $395
  • Document preparation fee – $82.50
  • Guarantee fee – $82.50

Other fees and charges may also become payable, for instance, an administration fee and a courier fee. However, there’s no monthly, annual, or additional repayment fee.

Application requirements

Applicants must:

  • Be at least 18 years of age
  • Be permanent residents of Australia
  • Not have declared bankruptcy or insolvency
  • Not have defaulted on any debts in the last 5 years

However, if you don’t meet some of these requirements, you can contact RACQ to check for options available to you. During the application process, you’ll also need:

  • Income details – employment and other income
  • Expense and liability details – living expenses and debts
  • Asset details – properties, vehicles, super, savings

Applying for RACQ personal loans

To go to this lender’s website, find and click the right “Go to Site” button in the table above. Here’s how RACQ’s online application process works:

  • Fill in the online application form and submit it. Generally, this only takes 10 minutes. Once it gets to RACQ, they’ll get the review process underway.
  • Afterthe review, you’ll receive a call within a business day. This is to let you know which documentation you need to provide.
  • When all your documents and info are in place, you’ll get feedback on whether your application was successful.
  • If you get approval, you then receive some paperwork. Once you sign and send, RACQ will move the money into your bank account.

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