Why choose RACV


  • Features a moderately low rate
  • No ongoing fees
  • Can apply online


  • Upfront establishment fee
  • Early exit penalty fee
  • Only secured personal loans available

RACV Personal Loans

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Fast Approval Secured Personal Loan
  • 1 to 7 years
  • Secured
  • Fixed Rate
  • Instant approval

Australian Credit Licence 385509Fees & 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 10.69%

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Features of an RACV personal loan

Whether it’s a caravan, car, holiday or home improvement, RACV personal loans can be used for a range of purposes. RACV provides secured fixed-rate personal loans to its members and borrowers who wish to become members. Its loan terms range between one to seven years and have a minimum loan amount of $5,000.

Some of the main features of an RACV personal loan include no account-keeping fees, easy online application and fast approval, often within five working hours. It’s worth mentioning that borrowers wishing to pay out their personal loan before the term will face a penalty. In some circumstances, there’s no need for a deposit.

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

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

RACV personal loans – customer service

Customers looking to contact RACV customer service can do so via:

  • Phone, 9am to 5pm (AEST) weekdays
  • Email
  • Branch (Victoria only)

Who is eligible for an RACV personal loan?

To be eligible for an RACV 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 a good credit rating
  • Have not filed for bankruptcy in the past seven years
  • Be looking to borrow a minimum of $5,000

How to apply for an RACV personal loan?

To apply for an RACV personal, borrowers can apply online through the RACV website, over the phone or in store. The application process takes around 10 minutes and involves the following steps:

  • Once you’ve compared and selected an RACV personal loan, you can get the application started online.
  • Once you’ve submitted your application, RACV will review your application and reply within five working hours of receiving your application.
  • If your application is approved, RACV will call you to talk through the details.
  • Upon final approval, the funds will be credited to your loan account usually within 24 hours.

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

RACV personal loans review

RACV personal loans may appeal to borrowers who are already members or would like to become a member. Under the RACV membership benefits scheme, existing members may be eligible for a discount and should check before applying.

The RACV secured fixed-rate personal loan has a moderately low interest rate and has no ongoing fees. Borrowers have the option to make additional repayments, however there is a fee for paying out the loan before its term. It’s worth mentioning that there is a high upfront application fee for the RACV personal loan in addition to a late payment fee.

The RACV personal loan allows borrowers to choose either fortnightly or monthly repayments.

While RACV do have a number of branches in areas of Victoria, borrowers who do not live near a branch can contact the lender by phone and email.

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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.