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Why choose an RACQ Bank Boat Loan?

Whether you are looking for a new or used boat, buying privately or from a marine dealer, RACQ Bank can help you achieve your goals with our flexible boat loans. Get a boat loan to suit your lifestyle with our competitive interest rates, and the freedom to make as many repayments as you like so you can pay your loan off faster.

  • Competitive interest rate
  • Flexible repayment options
  • Available for new lending only
  • Unlimited additional payments
  • No early pay-out fees
  • Simple online application
  • RACQ member discounts

Secured Boat Loan Special

  • 7 years maximum term for new boats
  • 5 years maximum term for used boats
  • Boat must not be older than 12 years at the end of the loan term
  • Establishment fee: $395
 
5.49% p.a.
Fixed rate
6.15% p.a.
Comparison rate

New lending only.

Unsecured Boat Loan Special

  • 5 years maximum term for new boats
  • 5 years maximum term for used boats
  • Loan is not secured against your boat
  • Establishment fee: $200
 
9.34% p.a.
Variable rate
9.74% p.a.
Comparison rate

New lending only.

Calculator

Use our personal loan calculator to see how much you can borrow and the repayments for your boat.

Boat loan FAQs

A comparison rate is an interest rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product, and also takes into account what the interest rate will be after any introductory periods are finished.

RACQ Bank Boat Loans are designed specifically for buying a new or used boat or jet ski. These have a very attractive interest rate, which is enabled by us taking security over the item being purchased.

RACQ Bank Personal Loans are designed for a wide range of purposes; such as a wedding, a holiday or debt consolidation, with no security requirement.

RACQ Bank makes it easy to manage your debt by consolidating your debt into one, easy to manage loan. We offer competitive rates on our debt consolidation loan help you pay it off sooner.

Yes, you are entitled to pay more than the minimum repayment amount, increase the frequency of your repayments or pay out your bank loan early without penalty.

Loans and banking products are issued by Members Banking Group Limited ABN 83 087 651 054 AFSL and Australian credit licence 241195 trading as RACQ Bank. 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, 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.

Terms, conditions, fees, charges and lending policies apply. The comparison rate for secured loans is based on a secured loan amount of $30,000 over 5 years. The comparison rate for unsecured loans is based on an unsecured loan amount of $30,000 over 5 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.

Secured and Unsecured Boat Loan Specials are available for boat loan applications received between 31 July 2020 and 31 December 2020 and funded prior to 31 March 2021. Rate current as at 31 July 2020 and subject to change at any time.

The Secured and Unsecured Boat Loan Specials are available for new lending only.

Calculator Disclaimer

The above Personal Loan calculator is a model, not a prediction. Amounts and repayment periods are estimates only, and actual amounts may be higher or lower. Results are based on information you have provided and do not take your personal circumstances into account. This calculator is not intended to be your sole source of information when making a financial decision. You should consider obtaining advice from a suitably qualified financial professional.

The comparison rate for secured loans is based on a secured loan amount of $30,000 over 5 years. The comparison rate for unsecured loans is based on an unsecured loan amount of $30,000 over 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Costs such as early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Calculator by Widget Works.