Why choose RACQ Bank


  • Online application
  • No early pay-out fee
  • Flexible payment options


  • Application fee charged
  • No redraw facility
  • Limited branch access

RACQ Bank Personal Loans

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Australian Credit Licence 364451Fees & charges apply





Green Personal Loan
  • 0 to 10 years
  • Unsecured
  • Variable Rate
  • No ongoing fees

Australian Credit Licence 364451Fees & charges apply

Australian Credit Licence 364451Fees & charges apply





Personal Loan Special
  • Special
  • 0 to 5 years
  • Unsecured
  • Variable Rate
  • No ongoing fees

Australian Credit Licence 364451Fees & charges apply

Personal Loans calculator

Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.


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based on a $30,000 loan for 5 years at 6.99%

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How to Apply

RACQ personal loans – customer service

Customers looking to contact RACQ customer service can do so via the 24/7 call centre, through an online enquiry form or pop into a branch in Queensland. Borrowers can also contact customer service via:

  • Online enquiry
  • Phone
  • Branch

Features of an RACQ personal loan

RACQ offers fixed- rate personal loans to its members and borrowers who wish to become members. Its loan terms range from one to seven years. RACQ will consider most personal loan amounts, provided the purpose is worthwhile – such as the purchase of a new or used car, caravan or motorcycle, a home renovation or debt consolidation.

Some of the main features of an RACQ personal loan include no account-keeping fees, flexible repayment options – including the choice to make extra repayments and make payments fortnightly or monthly – and discounts on various items, such as theme parks and movie tickets.

RACQ personal loans can be used for a range of different purposes including:

  • Student loans
  • Debt consolidation
  • Renovations
  • Shares
  • Holidays
  • Medical bills
  • Weddings

Who is eligible for an RACQ personal loan?

To be eligible for an RACQ personal loan, you’ll need to meet the following criteria:

  • Be at least 18 years old  
  • Be an Australian citizen, permanent resident or have a valid visa
  • Have a regular income
  • Have the capacity to meet the loan repayments

How to apply for an RACQ personal loan?

To apply for an RACQ personal, borrowers can apply online through the RACQ website. The application process takes around 10 minutes and involves the following steps:

  • Once you’ve compared and selected a personal loan, you can get the application started through the RACQ website
  • Once you’ve submitted your application, RACQ will review your application and reply within one business day
  • If your application is approved, RACQ will send over some paperwork for you to complete and send back
  • Upon final approval, the funds will be credited to your loan account

At the time of application, you’ll need to provide the following documentation:

  • Proof of identity
  • Proof of income and employment (including payslips)
  • Details of any other financial commitments

RACQ personal loans review

RACQ personal loans may appeal to borrowers who are already members, or would like to become a member, of RACQ. Borrowers may be attracted to the flexible repayment options as well as the lack of ongoing fees. However, the interest rates vary based on the borrower’s profile, so before committing to an RACQ loan, it’s worth speaking to the lender about whether you’re a candidate for a lower rate.

RACQ personal loans can be used for a variety of purposes, like weddings, cars, caravans, boats, refinancing and debt consolidation.

While the interest rate is on the high side, borrowers can make unlimited additional repayments with no fees and can choose to pay out the loan early without penalty.

RACQ has a number of branches in areas of Queensland. Borrowers who don’t live near a branch can contact the lender by phone and online seven days a week.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.