RAA personal loans

RAA has plenty of options if you’re looking to borrow money for a new or used car, caravan or boat or even a holiday. You don’t have to be a member of the RAA to apply, but there are member discounts so it’s worth considering, depending on how much you are borrowing. Below is a summary of the RAA loans available but you can also compare other loan providers on our website with our personal loan comparison tool.

RAA offers the following personal loans

Rates and fees verified as correct at 01 March, 2021. Other information correct at the time of writing. Advertiser disclosure.

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

9.30% p.a.

11.85% p.a.based on $10,000
over 3 years


Car Loan (Fixed, Secured)

7.80% p.a.

10.33% p.a.based on $10,000
over 3 years


Car Loan (Fixed, Secured)

6.70% p.a.

7.21% p.a.based on $30,000
over 5 years


Car Loan (Fixed, Secured)

6.20% p.a.

6.71% p.a.based on $30,000
over 5 years


FAQs about RAA Personal Loans

Why are their different interest rate tiers on RAA loans? 

RAA has a tiered interest rate structure which changes depending on how much money you are borrowing. The more money you borrow the lower your interest rate.

Also, if you are a member of the RAA you’ll get a 1% rate discount from non-member rates.

Are all RAA loans secured?  

If you’re borrowing money for a new car, you can secure the car against the loan. With secured loans you’ll have a lower interest rate.

If you don’t want to secure your loan you can take out an unsecured loan with RAA but the interest rate will be higher.

Can I choose between a fixed rate or variable interest rate?

No, the RAA only offers fixed rate loans. The benefit of a fixed rate loan is that it allows you to budget accordingly, knowing that your loan repayments stay the same month to month.

With RAA you can make extra repayments but if you want to pay out your loan early, you might have to pay an early repayment penalty.

How much can I borrow?

The amount of money you’ll be able to borrow will depend on your financial circumstances. RAA has loans from as little as $8000 up to $100,000.

What discounts do RAA members get?

One of the biggest benefits is that you’ll get a 1% discount off the standard variable rate. In addition to this you’ll also get a $100 discount off the loan establishment fee.

How often do I need to make a repayment?

You can set up your loan repayments to suit you. RAA offers a choice between weekly, fortnightly and monthly repayments.

You can also choose your loan term, which is between 1 - 7 years.

Will I have to pay an ongoing fee?

No, RAA loans don’t have ongoing fees, so all of your loan repayments go towards paying back your loan.

There are some other fees like a late payment fee or a fee if you pay out the loan early so it’s a good idea to set up automatic repayments and choose a loan term that will work best with your household budget.  

How long does it take to get approved?  

If you satisfy all the conditions you could be approved within a business day.

What will I need to apply for the loan?

You can apply online. You’ll need to provide the usual documentation such as ID, recent payslips, list of current assets / liabilities.

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