RACQ Bank

RACQ Bank Unsecured Personal Loan

Interest rate from

9.54% p.a.

Comparison rate from*

9.83% p.a.based on $30,000
over 5 years

Upfront fee

$200

RACQ Bank Unsecured Personal Loan

Interest rate from

9.54% p.a.

Comparison rate from*

9.83% p.a.based on $30,000
over 5 years

Upfront fee

$200

Details

Details

Mozo Review RACQ Bank Unsecured Personal Loan Review

Last updated: 12 December 2019.

What's hot:

Variable rates form 9.54% (9.83% comparison rate*)
Free extra repayments
No exit or service fee

What's not:

No redraw
Available to eligible members only

Mozo snapshot:

If you’re a Queenslander looking for a personal loan that’s tailored to your needs, look no further than the RACQ Bank Unsecured Personal Loan. With this flexible personal loan you’ll have the choice of weekly, fortnightly or monthly repayments and the option to borrow up to $60,000. And if you’re a credible borrower, you could have access to variable rates starting from 9.54% (9.83% comparison rate*).

Key features:

Make your renovation or holiday dreams come true with the RACQ Bank Unsecured Personal Loan. If you’re a RACQ Bank member with excellent credit, you could receive the competitive 9.54% variable rate (9.83% comparison rate*), plus discounts just for being a member!

Make your repayments on a schedule that suits you best - weekly, fortnightly or monthly - or make as many extra repayments as you like with no penalty! Just remember there is no redraw facility, so you won’t be able to redraw any of your extra repayments.

And though there is a $200 upfront fee to consider, the RACQ Unsecured Personal Loan comes with no exit or service fees.

Who it's good for:

The RACQ Bank Unsecured Personal Loan is a great pick for borrowers in Queensland who value community banking and want to become a member of RACQ Bank.

Any catches?

In order to apply for the RACQ Bank Unsecured Personal Loan, you will need to become a member. And while additional repayments are welcome, there is no option to redraw any of the money.

Details

Rates

Rate types

Variable
Rates from

9.54% p.a.variable
Comparison rate from*

9.83% p.a.based on $30,000
over 5 years

Fees

Application fee

$200.00
Service fee

$0.00
Late payment fee

$20.00
Exit fee

n/a
Early repayment penalty

$0.00

Other financial bits

Minimum loan amount

$3,000.00
Maximum loan amount

$60,000.00
Minimum loan term

1 Year
Maximum loan term

5 Years
Security types

Unsecured

Features

Repayment options

Weekly, Fortnightly, Monthly
Extra repayments allowed

yes
Redraw allowed

no
Other restrictions

none
Other benefits

none

*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. WARNING: 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.

Customer Reviews

This product is not currently reviewed.

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OurMoneyMarket

Low Rate Personal Loan

interest rate

8.00% p.a.

comparison rate*

8.21% p.a.based on $30,000
over 5 years

fees

$150.00upfront and $0.00/month