RACV offers a wide range of financing options from personal car loans and travel loans to consolidation and debt investments. With RACV loans, customers can get their dreams sooner. And apply additional member benefits discounts, so read this entire article to learn more about RACV personal loans.

Customers can get RACV personal loans up to $30,000

In the previous post, Loansaustralia.net introduces people to some of the necessary information that is useful for getting the Pioneer Credit Connect personal loans, to get more information people can read the article Pioneer Credit Connect personal loans with the lowest interest rate.  Now, let find knowledge about loans of RACV in the post today.


Just like a lot of article posts about the personal loans in Australia as well as each type of loans such as Liberty personal loans, Aussie Personal Loans, Coles Personal Loans… this post about the RACV loans also includes some main parts. They are:

1. Some requirements to apply for RACV loans

Check that you meet the eligibility criteria outlined below. You have to:

  • Aged 18 years and older
  • As an Australian citizen or permanent resident
  • Work regularly and continuously
  • There are no default loans or credit cards in the last three years
  • Not filed for bankruptcy in the past seven years
  • Find a way to borrow at least 5,000 dollars

You also need to provide the following information:

  • Australian driver’s license
  • Details from your employer include your name, address, contact details
  • Details of your financial situation include income, assets, costs, and debt

To register for RACV personally, borrowers can register online through the RACV website, by phone or in the store. The registration process takes about 10 minutes and includes the following steps:

  • Once you have compared and selected a personal RACV loan, you can start registering online
  • Once you have submitted your application, RACV will review your application and respond within five business hours of receiving your application. If your application is approved, RACV will call you to speak. detailed story
  • After final approval, the money will be credited to your loan account usually within 24 hours

2. The interest rate and fees of RACV loans

  • Interest rate. There is a fixed interest rate of 7.24% p.a. for the life of the loan. Comparison rate is 7.8% p.a. (based on $ 30,000 in five years).
  • Choose to pay debts conveniently. RACV works with you to set up direct debit payments that will suit you when you are paid. You have the option to make these payments every two weeks or monthly.
  • Pay more. An additional refund may also be made at any time on your loan but there is a 2% charge of the remaining balance or $ 205 if you repay the loan in full before 75% of the time is up. loan.
  • Terms and amount of loans. You can choose a loan term between 1 year and 7 years, with a minimum loan amount of $ 5,000.
  • Guaranteed loans. You will need to assign a property as collateral for this loan.
  • Application and late payment costs. There is a prepayment application fee of $399 for a personal RACV loan. There is no ongoing administrative fee charged for the life of the loan but there is a late payment fee.

RACV provides secured, fixed-rate personal loans with no guarantees to members and borrowers who want to become members. Its loan term is one to seven years and has a minimum loan amount of $ 5,000.

Some of the key features of RACV personal loans include no account holder fees, an easy online application and quick approval within five business hours.

It is worth mentioning that borrowers who want to pay their personal loans ahead of time will face a penalty. In some cases, there is no need to deposit.

Personal loans of RACV can be used for a variety of purposes, including:

  • Tuition
  • Debt consolidation
  • Renovations
  • Share
  • Right Le
  • Medical bill
  • The wedding

3. The example of RACV loans

Product Name RACV Personal Loan
Interest Rate (p.a.) From 7.24% (fixed)
Comparison Rate (p.a.) 7.8%
Interest Rate Type Fixed
Min Loan Amount $5,000
Max. Loan Amount $30,000
Loan Security Secured

For example, if you receive a $ 5,000 loan with:

  • A 3-year term
  • Interest rate: 7.24%
  • A prepayment application fee of $399
  • There will be a mandatory monthly payment of $160.027
  • During the life of the loan, your payments will total $5,761

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

Anita (Team Content) – RACV personal loans