Set sail with an RACQ Bank Boat Loan

Boating is about living life on your terms. Whether you get excited about painting a pre-loved boat a fresh colour, driving straight from the dealership to the water, or pulling out the fishing gear for a long weekend, an RACQ Bank Boat Loan can take you there. Our members enjoy unlimited additional payments, competitive interest rates, and flexible payment options. So cast off with a boat loan that gives you the freedom to sail your way.

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Your boat loan options

Choose the boat loan that best suits your budget and lifestyle.

Secured Boat Loan Special

Take advantage of lower interest rates when you get a secured boat loan.

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

Interest rate

6.16% p.a.

Comparison rate

Unsecured Boat Loan Special

Enjoy a lower establishment fee with an unsecured boat loan.

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    5 years maximum term for new boats
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    5 years maximum term for used boats
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    Loan is not secured against your boat
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    Establishment fee: $200
New lending only. Comparison rate warning.
9.34% p.a.

Interest rate

9.75% p.a.

Comparison rate

RACQ Bank Boat Loan details

Need more information? Check out the fees, terms, and features of our secured and unsecured boat loans.

We like to keep things above board, which is why we encourage you to learn more about boat loan terminology using our boat loan FAQs

  • Fees
    • Annual and monthly fees: $0
    • Additional repayment fee: $0
    • Establishment fee: $395 for secured boat loans and $200 for unsecured boat loans
    • Document preparation fee: $82.50

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

  • Limits
    • Minimum loan amount: $3,000
    • Maximum loan amount: $60,000
  • Repayments
    • We offer flexible personal loan options, including:
    • Weekly, fortnightly or monthly repayments
    • Unlimited additional repayments

How to apply for your RACQ Bank Boat Loan

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    Apply online

    Complete our simple online application form – it takes about ten minutes.

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    We’ll call you

    We’ll look over your application and call you back to request supporting documents.

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    Final review

    We’ll review everything you’ve provided and confirm if your application has been successful.

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    Loan approved
    Congratulations! If successful, we'll provide some paperwork for you to complete and send back, then we can provide the money to purchase your boat.

Why choose an RACQ Bank Boat Loan

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    RACQ Bank is owned by RACQ members
    We reinvest profits back into our members. 
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    Our staff are locals just like you
    We’re run by Queenslanders for Queenslanders. 
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    We have a reputation for integrity
    RACQ has been serving members for over 115 years. 
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    You'll enjoy membership benefits
    We’ve got discounts to put the wind in your sails. 

Snap up savings with your RACQ membership~~

Save when you buy supplies
Take 4% off Woolworths eGift cards.
Fuel up your boat for less
Get 4 cents per litre off at Puma Energy service stations.#
Cut your battery costs
Score a $25 discount on RACQ marine batteries RRP. 
Help Queenslanders at sea
Know your membership backs the RACQ Air Rescue Network. 

Boat 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 23 January 2022 and subject to change at any time.

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.

~~ 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 Puma Energy petrol stations. Visit for details.