RACQ Personal Loans

About RACQ

RACQ was formed more than 100 years ago, in 1905, as a Queensland-based club for motorists. It was originally called the Automobile Club of Queensland and designed to advocate the rights of drivers. As it evolved, it began to offer a range of products to members including car loans and personal loans.

Features of a RACQ personal loan

RACQ offers fixed interest rate personal loans to its members and borrowers who wish to become members. Its loan terms range between one and seven years, while RACQ says it considers most personal loan amounts, provided the purpose is worthwhile – such as the purchase of a new or used car, caravan or motorcycle, a home renovation or debt consolidation.

Some of the main features of an RACQ personal loan include no account keeping fees, flexible repayment options – including the choice to make extra repayments and elect to make payments fortnightly or monthly – and discounts on various items, such as theme parks and movie tickets.

What RateCity says

RACQ personal loans may appeal to borrowers who are already members, or would like to become a member, of RACQ. The flexible loan amount and repayment options are an attractive feature, as is the lack of ongoing fees. However, the interest rates vary based on the borrower’s profile, so before committing to a RACQ loan, it’s worth speaking to the lender about whether you’re a candidate for a lower rate.

Personal Loans from RACQ

Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
  • No ongoing fees
  • Flexible repayment options
  • Multiple loan amounts offered
  • Upfront fees
  • Limited branch access
Customer Service
  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Live Chat
  • Branch
  • Mobile banking staff
Applying and Eligibility

RACQ accepts personal loan applications from members and non-members, but non-members will have to join the club if they wish to proceed with the loan. Applications can be made online through the RACQ website.

Loan decisions are generally made within minutes to days, depending on the complexity of the borrower’s financial situation.  

In order to apply for the loan, borrowers will need proof of identity and proof of their ability to repay the loan, such as a recent pay slip or group certificate. They may also be asked for proof of housing, employment history, references of a credit check.

To be eligible,  borrowers must be:

  • 18-years-of-age or older;
  • A permanent resident of Australia, an Australian citizen or on an approved working visa;
  • Earning a sufficient income, as determined by RACQ.


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