Important disclosure

RACV

Fast Approval Secured Personal Loan

Real Time Rating™

  • 1 to 7 years
  • Secured
  • Fixed Rate
  • Instant approval
Interest Rate

10.69%

p.a

Comparison Rate*

11.42%

p.a

Real Time Rating™
Tags
  • 1 to 7 years
  • Secured
  • Fixed Rate
  • Instant approval
Interest Rate

10.69%

p.a

Comparison Rate*

11.42%

p.a

Calculate your repayments for this loan

$

Your estimated repayment

$978

based on $30,000 loan amount for 3 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

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

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Low Rate Personal Loan Secured (Excellent Credit)

Real Time Rating™
  • 1 to 7 years
  • Secured
  • Fixed Rate
  • No ongoing fees
Interest Rate

6.57%

p.a

up to 8.48%

Comparison Rate*

From

7.19%

p.a

up to 13.58%

Promoted

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Personal Loan (Excellent Credit)

  • Via broker
  • 1 to 7 years
  • Secured
  • Fixed Rate
Interest Rate

7.49%

p.a

up to 13.95%

Comparison Rate*

From

8.33%

p.a

up to 17.58%

Promoted

Generic

Unsecured Personal Loan (Excellent Credit) (Amount > $5000)

Real Time Rating™
  • 3 to 5 years
  • Unsecured
  • Fixed Rate
  • No ongoing fees

2024 Award Winner

Interest Rate

5.76%

p.a

up to 24.03%

Comparison Rate*

From

6.55%

p.a

up to 24.99%

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.