| Personal Loan | Green Personal Loan | Motor Vehicle Loan | Green Car Loan |
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| Loan optionshide | ||||
|---|---|---|---|---|
| Suitable for | Any general personal use |
Eligible products that can reduce the carbon footprint
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New or used car, boat, motorbike or caravan |
New plug-in electric vehicle
A plug-in electric car includes:
Vehicle must be no more than 12 months old. |
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Security required
With secured loans the purchased item or other asset (e.g. a car) act as security and generally offer lower rates.
Unsecured loans do not require security. This is why they generally come with a higher interest rate to offset the risk of default. |
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| Feeshide | ||||
| Establishment Fee | $195 | $0 | $195 | $0 |
| Annual and monthly fees | $0 | $0 | $0 | $0 |
| Additional repayment fee | $0 | $0 | $0 | $0 |
| Termshide | ||||
| Maximum term | 5 years | 10 years |
New vehicle: 7 years
Used vehicle: 5 years New vehicle is less than 2 years old
Used vehicle is 2 years or older A used vehicle must not be older than 12 years at the end of the loan term |
5 years |
| Limitshide | ||||
| Minimum loan amount | $3,000 | $3,000 | $3,000 | $3,000 |
| Maximum loan amount | $60,000 | $60,000 | $100,000 | $150,000 |
| Repaymentshide | ||||
| Weekly, fortnightly, or monthly repayments | |
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| Unlimited additional repayments | |
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For full list of fees and charges refer to the Loan Fee Schedule.
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.
The Personal Loan is available for new lending only. Personal Loan not available for loan applications made for debt consolidation purposes.
The Green Personal Loan is available for new lending only to purchase eligible items. Conditions apply.
RACQ Bank Motor Vehicle Loan available for new lending only.
RACQ Bank Green Car Loan is available for new lending only to purchase a plug-in electric car up to 12 months old.