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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
6.16% 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
9.75% p.a.
Comparison rate

New lending only.


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.

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 normal lending criteria apply. 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.

Rates current as at 17 November 2020 and subject to change.

Secured and Unsecured Boat Loan Special 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.

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.