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RACQ Bank Unsecured Personal Loan

Interest rate from
9.34% p.a.
Comparison rate from*
9.74% p.a.based on $30,000
over 5 years
Upfront fee
$275

Mozo editorial review RACQ Bank Unsecured Personal Loan

Last updated: 31 August 2020.

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What's hot
  • Variable rates form 9.34% (9.63% 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 9.34% (9.63% comparison rate*).

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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 9.34% variable rate (9.63% 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 $275 upfront fee to consider, the RACQ Unsecured Personal Loan comes with no exit or service fees.


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Who is it 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.

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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 and fees information correct as at 24 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Variable

  • 9.34% p.a.variable

  • 9.74% p.a.based on $30,000
    over 5 years

Fees
  • $275.00

  • $0.00

  • $20.00

  • n/a

  • $0.00

Other financial bits
  • $3,000.00

  • $60,000.00

  • 1 Year

  • 5 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • none

  • 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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