About RAA Finance

Finance FAQ

Personal Loans

What is RAA Finance's loan approval time?
 

RAA Finance will have an answer to you within 7 working hours.*

7 hour approval subject to applicants satisfying all conditions between 9am and 5pm Monday to Friday, excluding public holidays.

What is RAA Finance's minimum loan amount?
 

The RAA Finance minimum loan amount is $8,000.

How long are RAA Finance's loan terms?
 

The loan terms available from RAA Finance are from 3 to 7 years.

How long is my RAA Finance quote valid for?
 

Your RAA Finance quote is valid for 30 days.

Can I get a pre-approval car loan application?
 

Yes, you can. The pre-approvals are valid for 30 days.

When will I receive the funds that I have borrowed?
 

Normally you will receive the funds within 24 working hours when supporting documents are submitted to RAA Finance by 12.00 noon on any given working day.

What benefits will I receive with my RAA Membership?
 

As a RAA Member you will receive a 1% p.a. discount off the standard interest rate for RAA Finance loans. You will also receive $100 off the loan establishment fee.

If I'm not an RAA Member can I join as an RAA Member?
 

Yes, you can. RAA offers membership to all of our Road Service, Insurance, and Security Monitoring customers. 

Is RAA Finance a fixed or variable interest loan rate?
 

RAA Finance interest rates are fixed for the term of the loan. Fixed interest rates have the benefit of fixed monthly repayments.

Where is RAA Finance located?
 

RAA Finance is located at 101 Richmond Rd, Mile End 5031.

How old must I be to apply for an RAA Finance loan?
 

You must be 18 years of age to apply for a loan with RAA Finance.

Can I obtain an RAA Finance personal loan for vehicles for business or commercial use?
 

At this stage unfortunately no, we do not offer personal loans for vehicles for business or commercial use. 

I have an international overseas drivers licence, can I apply for a loan?
 

No. To apply for a secured loan, you must have a current, valid, unconditional Australian driver's licence. For unsecured loans a driver's licence is not required however you must be a home buyer/owner.

I am living in SA on an overseas Visa, can I apply for a loan?
 

Yes, but the loan term can only be for the unexpired term of your visa (e.g. If the visa is for 5 years and you have already been here for 18 months, then the maximum loan term is 3 years).

Does RAA Finance need any deposit for a loan?
 

Normally no, but in the event of jet skis, motorcycles and imported vehicles, RAA Finance may require a deposit.

What does secured and unsecured mean?
 

The key difference between the two types of loans is that with secured loans you are required to provide security (e.g. motor vehicle) against the amount you are borrowing whereas an unsecured loan does not. RAA Finance only considers providing an unsecured loan to an applicant who is a current home owner (owns home outright or has a home loan).  Secured and unsecured loans can be applied to any acceptable worthwhile loan purpose.

Who can borrow from RAA Finance?
 

RAA Finance lends to individuals, both members and non-members.

What is RAA Finance's phone number?
 

The phone number is 8202 8331.

Call us anytime Monday-Friday 8-6, or Saturday 9-12.

Do I need to demonstrate my income?
 

Yes. You will need to provide at least two most recent payslips, tax return or other proof of regular income. RAA Finance does not provide personal loans for business purposes.