Personal loan for boats
Welcome aboard the simple way to finance your boat or jet ski, with our personal loan
Why you might want to sail off with this boat loan
Flexible terms
You’re in control, with a choice of term from 1 to 7 years, so your repayments suit your budget.
Borrow without security
No need to offer your boat as security as our boat loan is an Unsecured Personal Loan.
Get your funds faster
Simple online application with a response in 60 seconds. After final approval, accept your online contract and funds will be transferred within the hour*.
Other reasons to choose
You could borrow $2,000 to $50,000 – for new life jackets, repairs, or an entire boat
Your interest rate is tailored to your credit score and other details**, with half our customers getting a rate of 15.49% p.a.
You choose either weekly, fortnightly or monthly repayments to match when you’re paid.
Estimate your boat or jet ski repayments
What’s the difference between a fixed and variable rate loan?
A fixed rate loan has an interest rate that’s fixed for the term of your loan. It will not change – helping you plan your finances around set repayments.
A variable rate loan has an interest rate that’s variable – i.e. it could go up or down over the course of the loan term.
Our variable loan also has a redraw feature, which means if you need access to cash, you can withdraw any extra repayment amounts you’ve made at any time1.
Choose between our Unsecured Personal Loans
Variable Rate Personal Loan
Whether you’re planning for your big day or the trip of a lifetime, our Variable rate Personal Loan can help.
| 6.89% p.a. to 19.99% p.a. | Interest rate range |
| 7.81% p.a. to 20.83% p.a. | Comparison rate range^ |
| 15.49% p.a. | Median rate (Around half of our customers receive the median rate or lower) |
| $2,000 - $50,000 | Borrowing amount |
| 1 - 7 years | Loan term |
Fixed Rate Personal Loan
Time to upgrade your ride or home? Or looking to combine your debts? Our Fixed rate Personal Loan may be the right fit.
| 6.89% p.a. to 19.99% p.a. | Interest rate range |
| 7.81% p.a. to 20.83% p.a. |
Comparison rate range^ |
| 15.49% p.a. |
Median rate (Around half of our customers receive the median rate or lower) |
| $2,000 - $50,000 | Borrowing amount |
| 1 - 7 years | Loan term |
Our standard variable rate is 12.99% p.a. (comparison rate 14.06% p.a.^)
The rate for some customers is based on personalised pricing. The final rate you’re offered may be lower or higher than 12.99% p.a. (comparison rate 14.06% p.a.^), depending on your personal financial circumstances.
Key Fees
Variable rate Personal Loan
| $150 | Lending establishment fee |
| $10 | Monthly loan account fee |
| $0 | Per redraw on variable loans |
| $0 | Loan discharge fee if you fully repay the loan within the first 12 months |
Fixed rate Personal Loan
| $150 | Lending establishment fee |
| $10 | Monthly loan account fee |
| $150 | Loan discharge fee if you fully repay the loan within the first 12 months |
| $100 | Loan discharge fee if you fully repay the loan after the first 12 months and before the end of the loan term |
Fees are subject to change.
Ready to apply for a boat loan? Apply now
Get an response in 60 seconds after submitting your application.
Frequently asked questions
With a BankSA personal loan for a boat or jet ski, half our customers are offered a median rate of 15.49% p.a. As our interest rate is tailored to the individual, you may be offered a lower or higher rate.
How to apply for a loan for your boat or jet ski
Conditionally approved?
That means we still need to verify some of your details. If you’ve been conditionally approved, you’ll also get an email outlining what’s required straight away. The email also gives you a secure way to send that information back to us.
Before you apply
Follow this section to improve the likelihood your application is approved.
- You’re aged 18 or over
- You have permanent residency in Australia/NZ OR;
- You’re a non-resident or migrant and hold an acceptable Visa (PDF 350KB), with a minimum 1 year before expiry
- You have a regular, verifiable Australian taxable income
- You have a fixed, verifiable residential address in Australia.
Important information
Personal Loan Terms and Conditions (PDF 229KB) - for customers approved before 18 March 2024.
Personal Loan Terms and Conditions (PDF 369KB) - for customers who apply, or are approved, on or after 18 March 2024.
Any advice on this website is general in nature and has been prepared without considering your objectives, financial situation or needs. Please read the product disclaimer and Terms and Conditions documents and consider your individual circumstances before applying for a BankSA Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information correct as of 18 March 2024. Interest rates are subject to change.
Our standard variable rate for unsecured variable rate loans is 12.99% p.a. (comparison rate 14.06% p.a.). The rate for some customers is based on personalised pricing. The final rate you’re offered may be lower or higher than 12.99% p.a. (comparison rate 14.06% p.a.), depending on your personal financial circumstances.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. Costs such as loan discharge fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Unsecured Personal Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years:
- The minimum interest rate for an unsecured fixed & variable rate loan is 6.89% p.a. (Comparison rate 7.81% p.a.) with the estimated total amount payable including fees is $36,327.
- The maximum interest rate for an unsecured fixed & variable rate loan is 19.99% p.a. (Comparison rate 20.83% p.a.) with the estimated total amount payable including fees is $48,517.
#Repayment calculator & assumptions: Any calculations made by you using this calculator is intended as a guide only. It is for illustrative purposes only and is based on the accuracy of the information provided. The calculation is not an offer of credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan. Weekly and fortnightly repayment calculations – if your monthly repayments are $1000, fortnightly repayments are calculated by dividing $1000 by 2 and rounding up if required ($1000 ÷ 2 = $500). Weekly repayments are calculated by dividing $1000 by 4 and rounding up if required ($1000 ÷ 4 = $250).
##The lending establishment fee will be added to your loan amount. Please read full terms and conditions & fees and charges before making a decision to apply for a BankSA Personal Loan.
1A Redraw facility is available on variable interest rate loans only. Redraw requests are subject to approval. Minimum redraw amount is $500 and a $0 redraw fee applies to each approved request. Other fees and charges may apply.
*Access to funds within 60 minutes: Available for existing customers who apply for an Unsecured Personal Loan, as a single applicant online. Loan funds will be disbursed into an existing BankSA account 60 minutes from final approval.
**Personalised rates: The rate for some customers is based on personalised pricing. Instead of a one-size-fits-all approach, personalised pricing allows us to offer more people personal loans at a better rate, based on an assessment of credit history as well as the information provided in the application.
Unless otherwise specified, the products and services described on this website are available only in Australia from BankSA - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.