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NRMA personal loans

The NRMA has personal loans that are available to help fund the purchase of a new or used car, motorhome, caravan or boat. If you’re looking to save money by refinancing a personal loan, NRMA can also help. On this page you’ll find a quick summary of the loan options available through the NRMA as well as some essential info to help you compare your options. If you’re wondering how NRMA’s rates and fees compare with other loans in our database, check out our personal loan comparison tool.

NRMA offers the following personal loans

Rates and fees verified as correct at 25 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
New Car Loan (Fixed, Secured)

4.99% p.a.

5.69% p.a.based on $30,000
over 5 years


Used Car Loan (Fixed, Secured)

6.49% p.a.

7.19% p.a.based on $30,000
over 5 years


WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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NRMA loan essentials

What does the ‘from’ interest rate mean?

The “from” rate is usually the cheapest interest rate available. Not everyone will get this interest rate as it will depend on the loan purpose. For instance, if you are buying a new car or caravan through the NRMA your interest rate will be cheaper than someone buying a used car.

What is the comparison rate?

The comparison rate is there to help you work out the true cost of a loan as it combines the headline interest rate and any fees. The comparison rate on our site is based off a $30,000 loan over 5 years. If you are borrowing more or less than this your comparison rate will be different.

Do I have to be a member of the NRMA to get a personal loan with them?

No, you don’t but members will get a 1% discount off the applicable interest rate of the loan, so it may be worth your while to join if the discount is greater over the life of the loan than the membership fee.

Fixed interest, is this a good thing?

The benefit of having a fixed interest rate is that you’ll know exactly what your loan repayments will be each month that you have the loan. With a variable rate loan your repayments could go up or down depending on interest rate cycles.

There are early repayment penalties to consider with an NRMA fixed rate personal loan. If you pay back the loan before the term, you will need to pay a fee if there is more than 25% of the term remaining.

How much can I borrow?

There isn’t a limit for how much you can borrow as long as you have the income to pay back the loan in the time period. To see how much your repayment would be based on how much you want to borrow you can see our loan repayments calculator.

Just keep in mind that the minimum loan amount with the NRMA loans on our site is $15,000 so if you are looking for a loan less than this, try our personal loan search tool to find a provider than offers loans for your amount.

What is the maximum loan term?

You’ll be able to borrow for up to 7 years. The minimum loan term is 1 year.

Am I required to put up security for the loan?

The loan will be secured against the car, caravan, bike or boat. You don’t need a deposit for the loan.  

When will my repayment be due?

NRMA have flexible loan options so you can choose whether you want to make fortnightly or monthly repayments. You can also make extra repayments anytime if you choose.

How long does it take to get my loan approved?

NRMA say that you can get loan pre-approval within 5 business hours when you apply online. Once all the paperwork is sorted out you will have access to the funds the next day.

What information will I need to apply?

First you’ll need to ensure that you are eligible to apply. For this you’ll need to be an Australian citizen or resident for tax purposes and be over the age of 18 years.

And to make sure that you have all the info required for your loan application you’ll need:

  • Drivers licence number
  • Details of your income
  • Assets and liabilities   
  • Credit card or store card details

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