Simplify your budget with an RACQ Bank Debt Consolidation Loan

Sometimes life throws unavoidable expenses our way. An RACQ Bank Debt Consolidation Loan allows you to consolidate your debts and take advantage of no annual or monthly fees, flexible repayment options, and unlimited additional payments. Why? Because we want our members to get ahead.

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Debt consolidation loan

New lending only. Comparison rate warning

12.99% p.a

interest rate

13.28% p.a

comparison rate

RACQ Bank Debt Consolidation Loan details

Want to know if RACQ Bank is a good match for you? Check out the fees, terms and features of our debt consolidation loans. For a full list of fees and charges refer to the Loan Fee Schedule. New lending only. 

  • Fees
    • Establishment fee: $195
    • Annual and monthly fees: $0
    • Additional repayment fee: $0
  • Terms
    • Maximum term: 5 years
  • Repayments

    We offer flexible personal loan options including:

    • Weekly, fortnightly, or monthly payments
    • Unlimited additional repayments
  • Limits
    • Minimum personal loan amount: $3,000
    • Maximum personal loan amount: $60,000

Applying for your debt consolidation loan is easy

  • icon-step-1
    Apply online
    Fill in your online application, it takes about 15 minutes to do.
  • icon-step-2
    We’ll call you
    Once we’ve looked over your application, we’ll reach out to ask for supporting documents.
  • icon-step-3
    Final review
    We’ll review your application and documents to decide whether your loan will be approved.
  • icon-step-4
    Loan approved
    If your application is successful, we’ll give you some final paperwork to complete so that we can transfer the funds.

Why choose an RACQ Bank Debt Consolidation Loan?

  • shaking-hands
    RACQ members own RACQ Bank
    Our profits are reinvested back into our members.
  • callcentre-person
    We're locally staffed
    Talk to our team in Queensland when you call.
  • house-home
    We exist to make members lives better
    We’re committed to serving your best interests.
  • racq-logo-on-card
    You'll unlock membership benefits
    You can save on everyday purchases and luxuries.

Enjoy exciting member perks~~

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.
Earn cashback rewards when you shop
Shop online with more than 200 fashion, beauty, pet, and home retailers and earn cashback rewards.

Debt consolidation 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.

Debt consolidation loan 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.

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

~~ 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.