Simplify your budget with an RACQ Bank Debt Consolidation Loan

Sometimes life throws unavoidable expenses our way. An RACQ Bank Debt Consolidation Loan allows you to consolidate your debts and take advantage of no annual or monthly fees, flexible repayment options, and unlimited additional payments. Why? Because we want our members to get ahead.

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Debt consolidation loan

New lending only. Comparison rate warning

12.99% p.a

interest rate

13.28% p.a

comparison rate

RACQ Bank Debt Consolidation Loan details

Want to know if RACQ Bank's unsecured debt consolidation loan is a good match for you? Check out the fees, terms and features of our debt consolidation loans.

For a full list of fees and charges refer to the Loan Fee Schedule. 

  • Fees
    • Establishment fee: $195
    • Annual and monthly fees: $0
    • Additional repayment fee: $0
  • Terms
    • Maximum term: 5 years
  • Limits
    • Minimum personal loan amount: $3,000
    • Maximum personal loan amount: $60,000
  • Repayments

    We offer flexible personal loan options including:

    • Weekly, fortnightly, or monthly payments
    • Unlimited additional repayments

Applying for your debt consolidation loan is easy

  • icon-step-1
    Fill in your online enquiry

    Our streamlined loan enquiry form takes approximately 15 minutes to complete.

    To enquire, please have the following details ready:

    • Personal identification
    • Employment history
    • Living expenses and liabilities
    • Assets
    Enquire now
  • icon-step-2
    We’ll get in touch
    We’ll review your loan enquiry and either call or email you (whichever is your preference) as soon as possible to complete your application. When we touch base, we’ll let you know if we need any other documents to complete the process.
  • icon-step-3
    We'll do a final review
    We’ll review everything you’ve provided and confirm if your loan application has been successful.
  • icon-step-4
    You'll receive the funds
    Once your loan has been approved, we’ll provide some paperwork for you to complete and send back, then we’ll make the funds available in your nominated RACQ Bank account.

While you’re here

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Why choose an RACQ Bank Debt Consolidation Loan?

  • shaking-hands
    RACQ members own RACQ Bank
    Our profits are reinvested back into our members.
  • callcentre-person
    We're locally staffed
    Talk to our team in Queensland when you call.
  • house-home
    We exist to make members lives better
    We’re committed to serving your best interests.
  • racq-logo-on-card
    You'll unlock membership benefits
    You can save on everyday purchases and luxuries.

Enjoy exciting member perks~~

fuel-pump
Free up your transport budget
Take 4 cents per litre off when you fill up at participating Caltex service stations.#
Learn more
Wallet clipped
Save on the essentials every week
Enjoy a 4% discount on pre-purchased Woolworths Supermarket eGift Cards.
Learn more
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Treat yourself to a little entertainment
Save on eVouchers and eGift Cards for Event Cinemas and BCC Cinemas Queensland-wide.
Learn more
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Earn cashback rewards when you shop
Shop online with more than 200 fashion, beauty, pet, and home retailers and earn cashback rewards.
Learn more

Contact us

Need help or would like to know more? RACQ Bank offers many convenient ways for you to get in touch with us.

Debt consolidation loan FAQs

Help centre

Things to note

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Interest rates on a per annum basis and are current as at 1 October 2024 and subject to change at any time.

Debt consolidation loan is available for new lending only.

Comparison rate calculated on an unsecured loan amount of $30,000 over 5 years based on monthly repayments. 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.

#Conditions apply. Offer available at participating Caltex and Puma Energy service stations. Visit racq.com/caltex for details.

~~ Terms and conditions apply to all offers. View the individual offer for full details. Offer is subject to availability and may be withdrawn at any time without notice.