Looking for a personal loan in Australia is not difficult because there are a lot of lenders providing loans with a range of types. RACQ is one of the best lenders in Australia. What are personal loans RACQ offers? And how many steps to get RACQ personal loans? This post will answer all of your questions.

RACQ personal loans
RACQ personal loans are offered for customers to use in a lot of purposes

In the previous post, Loansaustralia.net introduces people to some of the necessary information that is useful for getting the MOVE Bank personal loans, to get more information people can read the article Get MOVE Bank personal loans with a one-time fee. Now, let find knowledge about loans of RACQ Bank in the post today.

RACQ PERSONAL LOANS

Just like a lot of article posts about the personal loans in Australia, as well as each type of loans such as MOVE Bank personal loans, ANZ personal loans, BankVic personal loans, Bankwest personal loans…. this post about the RACQ Bank loans also includes some main parts. They are:

1. Some requirements to apply for RACQ loans

If customers are really willing to register for loans in RACQ, click RACQ to start making the loan request. It takes about ten minutes to complete the request and it will take about five hours to know if the request of customers is approved. First, customers need to meet some criteria below before applying for any RACQ loans:

  • Customers need to be at least 18 years old
  • At the same time, customers are a resident in Australia or an Australian citizen
  • Customers are residing in Queensland
  • Customers need to be able to manage repayments

To ensure the legality of the loan, customers need to provide some personal documents to RACQ, such as:

  • Some personal information specific: name, contact information, address.
  • Information about the job of customers: the name of the job and details about the job.
  • Some financial information: details of the income, assets, and debt.

2. How many steps to get RACQ loans?

The RACQ loan has some main feature such as flexible repayment options and no account-keeping fees. With loans of RACQ, customers have a choice to make payments fortnightly or monthly, make extra repayments and – and discounts on various items, such as theme parks, movie tickets.

There are a lot of different purposes that customers can use the RACQ loans, including:

  • Renovations
  • Shares
  • Student loans
  • Debt consolidation
  • Holidays
  • Medical bills
  • Weddings

There are some steps to apply for any loans of RACQ. The process to apply loans takes about 10 minutes to complete and submit the form and after they receive it, RACQ will start the process for the customer.

  • Step 1: Complete the online application form.
  • Step 2: RAQC review the application and call back within 1 business day.
  • Step 3: RAQC  let the customer know what supporting materials they need.
  • Step 4: RAQC will confirm if the application has been successful.
  • Step 5: Customers get some documents from RACQ to complete and return.
  • Step 6: RACQ will transfer money to the bank account of customers.
RACQ personal loans
RACQ personal loans are offered for customers to use in a lot of purposes

3. The interest rate and fees of RACQ loans

  • Interest rate. The fixed interest rate of at least 12.95% p.a.
  • Loan amount. Loans with between $3,000 and $60,000
  • Flexible repayment. Make unlimited additional refunds and are not penalized for early payment.
  • There is no minimum loan term. Up to 5 years
  • Apply and approve quickly. Within 24 hours.
  • Member discounts. Have access to a range of discounts
  • You will also pay a $200 establishment fee.

 Example:

  • Customers get $10,000 with unsecured loans
  • Loan term 3-year
  • The interest rate is 12.95% p.a. (16.42% p.a. comparison rate)
  • Application fee: $200
  • The total amount payable is $11,495 including interest and fees
  • Each month, customers need to pay $319.05

This post is about loans of RACQ. We provide this information to offer you some of the necessary information that is useful for getting loans from RACQ Bank. Also if you are looking for information about the personal loans from ME Bank, please refer to the ME Bank personal loans link we just provided in the previous article.

Anita (Team Content) – RACQ personal loans