Banking

Things to note

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

*Available with existing, refinanced and new RACQ Bank home loans. Conditions apply.

#The Green Personal Loan is available for new lending only to purchase eligible items. Conditions apply.

~The Green Car Loan is available for new lending only to purchase a plug-in electric car up to 12 months old.

RACQ Bank subscribes to the Customer Owned Banking Code of Practice which establishes higher standards than the law requires.
The Code has been revised and updated to reflect modern consumer expectations and developments in approaches to issues such as consumer vulnerability, guarantors, and supporting customers through financial hardship. Please read more here.

**Eligible individuals will receive two thousand dollars ($2,000) cashback when refinancing to RACQ Bank from another financial institution, subject to the following terms and conditions:

1. The applicant must apply for a new home loan with RACQ Bank between 1 November 2022 and 31 December 2022. The Home Loan must have conditional approval by 5:00pm 31 December 2022 and funded no later than 90 days from conditional approval.
2. This offer is only valid for the refinance of existing non-RACQ bank loans to new loans with RACQ Bank.
   
3. A minimum refinanced loan application amount of $500,000 is required to receive the cashback offer.
   
4. This offer is valid for Investment Home Loans and Owner Occupier Home Loans only. It is not available where the refinance is being conducted in the name of a business or company.
   
5. Terms, conditions, fees, charges, and normal lending criteria apply. Refer to racq.com\home\home-loans for additional information.
   
6. There is a limit of one $2,000 cashback payment per loan application regardless of the number of applicants.
   
7. The cashback payment will be paid into an open RACQ Bank account within 30 days of settlement. The account must be in the same name as the home loan account (for joint home loans, the transaction account will need to be in the same joint names).
8. Tax consequences may arise from this promotion for investors and members should seek independent advice on any taxation matters.