Make it happen with an RACQ Bank Personal Loan

Bring your big plans to life with a little extra funding from RACQ Bank. Whether you want to take care of an unexpected bill, pull off your dream wedding, or finally fix things up around the house, we’re here to lend a hand. RACQ Bank offers personal loans that give you the freedom to pay off your loan as early as you like. When you take out a personal loan with us, you’ll notice the difference that being a member makes:

Apply for my personal loan

Personal Loan Special

New lending only. Excludes debt consolidation loans. Comparison rate warning

9.99% p.a

interest rate

10.27% p.a

comparison rate

RACQ Bank Personal Loan details

Are you on the hunt for a personal loan that ticks the right boxes? Learn more about the fees, terms, and features of our unsecured personal loans. For a full list of fees and charges refer to the Loan Fee Schedule

  • Fees
    • Establishment fee: $195
    • Annual and monthly fees: $0
    • Additional repayment fee: $0
  • Terms
    • Maximum term: 5 years
  • Limits
    • Minimum personal loan amount: $3,000
    • Maximum personal loan amount: $60,000
  • Repayments

    We offer flexible personal loan options including:

    • Weekly, fortnightly, or monthly payments
    • Unlimited additional repayments

How to apply for your RACQ Bank Personal Loan

  • icon-step-1
    Fill in your online application
    You’ll be able to submit your personal loan online application in around 15 minutes.
  • icon-step-2
    We’ll ring you
    Once we’ve looked over your application, we’ll call to ask for any supporting documents we need.
  • icon-step-3
    We’ll do a final review
    We’ll assess your application and documents and let you know if your unsecured personal loan application is successful.
  • icon-step-4
    You’ll receive the funds
    If your application is accepted, we’ll give you the final paperwork to submit before we transfer the loan amount into your nominated bank account.
Personal loan repayment calculator
Find out how much you can borrow, what your repayments will be, and the difference making a few extra repayments will make. 

Why apply for an RACQ Bank Personal Loan?

  • shaking-hands
    RACQ Bank is owned by RACQ members
    Choose a bank that puts members before profits.
  • callcentre-person
    Call on a Queenslander
    Reach out to our local call centre.
  • house-home
    Know your finances are safe with us
    Bank with confidence in our security measures.
  • racq-logo-on-card
    Trust in our reputation for service
    RACQ has supported our members for over 118 years.

Take advantage of RACQ member benefits~~

Free up your transport budget
Take 4 cents per litre off when you fill up at participating Caltex service stations.#
Wallet clipped
Save on the essentials every week
Enjoy a 4% discount on pre-purchased Woolworths Supermarket eGift Cards.
Treat yourself to a little entertainment
Save on eVouchers and eGift Cards for Event Cinemas and BCC Cinemas Queensland-wide.
RACQ Car Buying Service
Take the hassle out of finding a new vehicle. Our car buying service is free for RACQ members.~~

Personal loan FAQs

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.

Rates current as at 1 May 2024 and subject to change at any time.

The Personal Loan Special is available for new lending only. Personal Loan Special not available for loan applications made for debt consolidation purposes.

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.

~~ Terms and conditions apply to all offers. View the individual offer for full details. Offer is subject to availability and may be withdrawn at any time without notice.

#Conditions apply. Offer available at participating Caltex and Puma Energy service stations. Visit for details.

The Green Personal Loan is available for new lending only to purchase eligible items. Conditions apply.

^RACQ Bank Loyalty Offer Terms and Conditions 

1. Members Banking Group trading as RACQ Bank (RACQ Bank) is the issuer of various financial products. RACQ Bank offers a range of offers on its loan products (RACQ Bank Loyalty Offer) which are subject to the below terms and conditions.

2. The RACQ Bank Loyalty Offer provides eligible RACQ Bank customers with a reduced interest rate on RACQ Bank advertised rates on eligible RACQ Bank loan products. These terms and conditions apply in addition to any terms and conditions that apply to the relevant RACQ Bank loan product.

Eligibility Criteria for the RACQ Bank Loyalty Offer

3. The RACQ Bank Loyalty Offer is available:

  1. on any RACQ Bank Investment Home Loans or Owner Occupier Home Loans (Eligible Home Loans). For the avoidance of doubt, this does not include the RACQ Bank Green Home Loan; and
  2. on any Secured or Unsecured Personal Loans (Eligible Personal Loans). For the avoidance of doubt, this does not include the RACQ Bank Green Car Loan, RACQ Bank Green Home Loan or RACQ Bank Green Personal Loan.

(Eligible Products)

4. The RACQ Bank Loyalty Offer is only available if a borrower on a loan contract for an Eligible Product is one of the following:

  1. An existing Gold or Silver RACQ Member;
  2. Employed by a Queensland school or higher education institution or by the Queensland Department of Education; or
  3. Employed by RACQ and have a RACQ employee identification number.

The offer is not available where the New lending or Refinance is being conducted in the name of a business or a company.

(Eligible Member)

5. New lending or refinance is any new lending application with RACQ Bank with a minimum of $20,000 in additional new lending for Eligible Home Loans or any new application with RACQ Bank for Eligible Car and Personal Loans (New Lending or Refinance)

6. Assessment of whether the above eligibility criteria is met will be based on information you disclose during the loan initiation process.

7. RACQ may also ask for further information or evidence, outside what is usually asked in the loan initiation process, to confirm eligibility to the RACQ Bank Loyalty Offer.

8. Eligibility is assessed at New Lending or Refinance. If we assess that a person is no longer eligible for the RACQ Bank Loyalty Offer, we will remove the offer from the date of that assessment and the interest rate on your loan product will revert to the applicable interest rate disclosed in RACQ Bank’s Loan Rate Schedule.

Operation of the RACQ Bank Loyalty Offer

9. The RACQ Bank Loyalty Offer is only available for New Lending or Refinance applications received from 06 December 2022

10. An Eligible Member will receive the following reductions from the applicable interest rate disclosed in the RACQ Bank Loan Rate Schedule:

  1. A 0.10% p.a. (10 basis point) reduction on any Eligible Home Loan Product;
  2. A 0.20% p.a. (20 basis point) reduction on any Eligible Personal Loan Product.

11. For the avoidance of doubt, only one RACQ Bank Loyalty Offer will be applied to each Eligible Product held by an Eligible Member. If more than one borrower on a loan contract is an Eligible Member, the RACQ Bank Loyalty Offer will only be applied once.

12. The offer of an interest rate reduction under this offer is subject to the eligibility criteria being met and is at the absolute discretion of RACQ Bank.

13. RACQ Bank is entitled to discontinue or change the RACQ Bank Loyalty Offer at any point, in its absolute discretion. For Eligible Members who are receiving the RACQ Bank Loyalty Offer at the time that RACQ Bank decides to withdraw or change the RACQ Bank Loyalty Offer under this clause, RACQ Bank will only do so in accordance with the terms of the loan agreement it has with the Eligible Member which permit variations to the interest rate.

14. RACQ Bank collect, process, use and disclose information about RACQ members in accordance with our Privacy Policy which can be viewed here.

15. These Terms and Conditions are governed by the laws of Queensland. You irrevocably submit to the non-exclusive jurisdiction of the courts of Queensland and the courts competent to hear and determine matters in Queensland.