Switch to an electric vehicle with an RACQ Bank Green Car Loan

At RACQ Bank, we’re empowering Queenslanders to say goodbye to the bowser and drive into a greener future. We understand switching to an electric vehicle can be expensive, which is why the RACQ Bank Green Car Loan comes with no fees, unlimited additional repayments, and a low fixed interest rate. If you’re ready to park a new electric vehicle in your driveway, apply for a Green Car Loan today.

  • $0 upfront fees
  • Unlimited additional repayments
  • Finance an eligible EV, PHEV, or FCEV
  • Available for vehicles up to 12 months old

Apply now

Green Car Loan

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

5.59%  p.a.

fixed rate

5.59%  p.a.

comparison rate

Green Car loan details

Looking for a Green Car Loan that works for you? Learn more about the fees, terms, and features of the RACQ Bank Green Car Loan. For a full list of fees and charges, see the Loan Fee Schedule

  • Fees
    • Establishment fee: $0
    • Annual and monthly fees: $0
    • Additional repayment fee: $0

    For a full list of fees and charges refer to the Loan Fee Schedule

  • Terms
    • Maximum term: 5 years
  • Limits
    • Minimum Green Car Loan amount: $3,000
    • Maximum Green Car Loan amount: $150,000
  • Repayments

    We offer flexible Green Car Loan options including:

    • Weekly, fortnightly or monthly repayments
    • Unlimited additional repayments

How to apply for your Green Car Loan

  • icon-step-1
    Fill in your online application

    It only takes around 15 minutes to apply for the RACQ Bank Green Car Loan online.

    To apply, you'll need to provide:

    • Personal identification
    • Employment details
    • Your living expenses and liability details
    • Asset details
  • icon-step-2
    We’ll call you

    We'll review your application and call you as soon as possible. This call is to let you know if we need any additional information to complete the process.

  • icon-step-3
    We’ll do a final review

    Once you've sent all the documents we’ve requested, we’ll carry out a final review and let you know if your application is successful.

  • icon-step-4
    Your Green Car Loan is approved

    Congratulations! If successful, we'll send some final paperwork for you to complete and send back, and we’ll make the funds available after we’ve received all your documentation.

Why apply for an RACQ Bank Green Car Loan?

  • person-next-to-racq-logo
    RACQ Bank is owned by RACQ members
    We exist to make a positive difference in our members’ lives. 
  • Enjoy discounted EV charging

    Members save 20% at Chargefox ultra-rapid sites across Australia~. 

  • hands-with-heart
    We offer roadside assistance for EVs

    Choose from five levels of cover for your new car. 

  • racq-logo-dash
    We take sustainability seriously
    RACQ is working hard to make green living affordable. 

Green Car 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.

Comparison rate calculated on a secured 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.  

Rates current as at 15 July 2022 and subject to change at any time.

Insurance products (excluding Travel Insurance and the Life and Income Protection Insurance suite of products) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions 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 PDS and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.

^Excludes pay later option.

~Terms and conditions apply. Offer is subject to availability and may be withdrawn at any time without notice. See full terms and conditions here.

The Green Car Loan is available for new lending only to purchase a plug-in electric car up to 12 months old.