RAC Personal Loan Interest Rates, Features, and Application Process

A personal loan is the go-to loan for individuals seeking small to large amounts of money to deal with pressing financial concerns. If you find yourself in the same situation and want to tackle it on a quick note, consider applying for an RAC Personal Loan. While there are diverse loan options RAC offers, you can choose to apply for a personal loan if you want instant money in your bank account. Regional Australia Bank sanctions personal loans for various reasons like buying a new car, repaying the debt, home improvement, holiday & travel, etc. If you are new to RAC and wish to explore the features it offers, give this article a good read!

RAC Personal Loan

A Personal loan is an easy-to-borrow loan provided by various financial organizations. With zero to no complexities, the loan gets approved which is why most people prefer applying for a personal loan as and when needed. Moreover, there are no restrictions on where the money is being used. So, if you are looking for a personal loan, you can consider using RAC Personal Loans. In this article, we are going to address the features, interest rates, application process, contact details, pros and cons, etc of RAC personal loans. 

RAC Personal Loans Interest Rates

RAC personal loans are the best when it comes to offering competitive interest rates and flexible repayment tenures. The main idea behind offering personal loans at affordable interest rates is to ensure that borrowers access the funds effortlessly when in need. RAC Personal Loan Rate is quite competitive with interest rates from 7.80% p.a. The comparison rate lies at 8.30% p.a. Furthermore, there won’t be any ongoing fees on the loan granted. The best part about RAC personal loan is that your loan gets approved within 7 working hours. Coming to the loan term, it offers a flexible loan term of 3-7 years. 

Features Of RAC Personal Loan

RAC Personal loan comes packed with numerous features to grab the attention of the borrowers. Here we discuss the best features that the financial organization offers to its customers. 

Competitive Interest Rates

As we discussed earlier, the company offers competitive interest rates to the customers. The interest rates are very affordable for even a common loan borrower. 

No Ongoing Fees

Unlike other personal loan lenders, RAC Finance doesn’t charge ongoing fees on the personal loans acquired by the customers. So, you need not worry about the monthly fees on the loan.

Quick Turnaround

The turnaround time for RAC Finance Personal Loan is quite short. If you are in urgent need of funds to settle some financial crisis, you can use an RAC personal loan as it has just 7 working hours turnaround time, unlike other financial organizations or banks that usually have at least one day of turnaround time.

Paperless Application Process

The application process for RAC is completely paperless. The application process is very quick and easy to make. There is a digital signing option available on the RAC official website which helps you grab a personal loan seamlessly.

Flexible Loan Tenure

The loan tenure of RAC personal loans is quite flexible. It has 3-7 years loan tenure and you can clear the loan within the timeframe without extra charges.

Flexible Repayment Options

The repayment options are also quite flexible at RAC. You can either clear the payment through a debit card or by using BPay. 

RAC Personal Loan Eligibility

The RAC personal loan eligibility is pretty straightforward. Customers who wish to grab a loan with RAC have to fulfill the eligibility criteria set by RAC to attain the loan.

  • The applicant must be a resident of the UK.
  • The applicant must be aged 18 years and above.
  • The borrower must have a personal bank account in the UK in his/her name.
  • The borrower must submit proof of annual income while applying for a personal loan with RAC.

How To Apply For RAC Personal Loan?

RAC is completely online and so are its loans. If you want to apply for a personal loan at RAC, apply online from the official website. The official website provides a direct link to apply for a personal loan. The RAC Personal Loan Application process is mentioned below:

  • Open the official website of RAC and click on the Apply button depending on the type of loan you want like secured/unsecured etc.
  • It will open a new page. For example, if you click on an unsecured loan, you will get to that certain page where you can get a quote after entering the loan amount and loan term. 
  • After checking the interest rate, repayment tenure, and repayment amount, you can click on the Apply Now button.
  • You need to enter your details and submit the necessary proofs as prompted by the RAC website and submit. 
  • On submission, your application will be verified along with your details and the concerned authority will get back to you if everything at your end is perfect.

Your loan will be sanctioned within 24 hours if all your details provided are apt and the proofs submitted are found eligible. If you wish to calculate the interest rate and repayment tenure yourself, you can make use of the RAC Personal Loan Calculator available on the website.

RAC Personal Loan Contact

RAC personal loan contact details are given below for you. If you want to contact the company for any queries, you can use the details provided below.


  • For general inquiries, you can call 13 17 03 or 13 11 11 
  • For insurance claims, you can call 13 17 03

Email Enquiry

If you want to perform an Email inquiry to learn about RAC products and services, you can do so using the inquiry form available on the official website of RAC. Fill in your details in the form along with your inquiry details and submit. You will receive the response within 24 hours. 

Pros & Cons

It is always a wise thing to check the pros and cons offered by a financial organization before applying to avoid further hassle. We have addressed the pros and cons of RAC personal loans. So, before heading for a personal loan with RAC, give these pros and cons a read.


  • The interest rates offered at RAC are competitive.
  • Flexible repayment terms.
  • The application process is complete online.
  • Great customer service


  • Tough eligibility criteria to crack.
  • The loan availability is restricted to certain regions. 

RAC Personal Loan Review

RAC personal loan is one of the best loans you can apply for if you are suddenly hit by a financial crisis. The loan is easy to take and also easy to repay given the flexible tenure and lower interest rate. If you want to buy a car, upgrade your home, clear your debt, or travel to your favorite destination, you can happily apply for this loan and fulfill it effortlessly. Coming to RAC Personal Loan Review, RAC personal loan is reviewed positively by the majority of the customers across Australia. So, next time you want to apply for a personal loan, try RAC. If you find the information curated on this page helpful, don’t forget to bookmark our website – www.moneycompass.net and stay tuned for more interesting articles on loan lenders.

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