Important disclosure
Calculate your repayments for this loan
Your estimated repayment
$324
based on $15,000 loan amount for 5 years at 10.69%
Pros and cons
For Fast Approval Secured Personal Loan
Benefits
- No ongoing fees
- Flexible repayment options
- Can apply online
- Use the loan for any worthwhile purpose
- Fast time to funding
- Approval is instant
Drawbacks
- Higher than average application fee
- Cannot apply in branch
RACV Rate Personal loan overview
For Fast Approval Secured Personal Loan
Details
Total repayments $19,429 | Interest rate type Fixed |
Borrowing range $5k - $35k | Security type Secured |
Loan term 1 to 7 years | Secured by Vehicle/Property |
Loan type Is Fully Drawn Advance | Repayment frequency Fortnightly, Monthly, Weekly |
Target Market Determination Visit RACV to view Target Market Determination. |
Features
Extra repayments Yes | Redraw facility |
Instant approval | Time to funding 24 hours |
Fees
Upfront Fee $499 | Ongoing Fee $0 |
Missed Payment Penalty $0 | Early Exit Penalty Fee $325 |
Permitted Loan Purposes
New Car | Used Car |
Motorcycle | Boat |
Debt Consolidation | Renovation |
Holidays | Medical Bill |
Shares | Student Loan |
Wedding |
Other Restrictions
Only available for VIC residents
FAQs
How long are $3000 loans?
Medium amount loans can be repaid between 16 days and 2 years. Many personal loans have terms between 1 year and 5 years, though some are as short as 6 months while others last for 10 years.
Generally, the shorter a loan’s term, the more expensive your regular repayments may be, but the less total interest you’ll pay. Loans with longer terms mean more affordable repayments, but more interest charges over the full term.