Finty
Queensland Country Bank

Queensland Country Bank Personal Loan-Boat Loan

Variable rate

Our Boat Loan allows you to purchase a new or used personal and trailerable watercraft up to five years of age.

Written byDavid Boyd
Interest rate a year, from
7.49%
Comparison rate, from
8.29%
Establishment fee
$150
Monthly fee
$5
Borrow
Not published

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 7.49%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$627
Total repayments
$22,573
Interest and monthly fees
$2,573

Loan details

Rates

Interest rate (a year)
7.49%–8.49%
Comparison rate (a year)
8.29%–9.29%
Rate type
Variable
Security
Not published

Limits and fees

Loan amount
Not published
Loan term
Not published
Establishment fee
$150
Monthly fee
$5

How it compares

Against the other personal loans we compare. Typical means the middle half of them.

Comparison rate

8.29%

From 8.29%. A typical loan starts at 10.14%.

Cost of $20,000 over 5 years

$4,490

Interest and fees at its starting rate. Typical is $5,513.

Setup fee

$150

A typical setup fee is $150.

Monthly fee

$5

A typical monthly fee is $8.

Pros and cons

Pros

  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 7.49% to 8.49%, and only some people get the starting rate.
  • A $5 monthly fee. That adds $300 over 5 years, as well as the interest.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • A $40 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Personal loans from other lenders that start at a similar comparison rate.