Boat loan repayment calculator

Enter the amount, rate and term to see the weekly, fortnightly or monthly repayment on a boat, jet ski or yacht, and the interest you will pay. It starts at $40,000 over five years at 8.19% p.a., the secured boat loan rate RACQ Bank published on 10 October 2026. Change the rate to the quote you were given.

Calculator

Boat and jet ski repayments

A boat loan is either secured on the vessel or an unsecured personal loan. The calculator does not know which you will be offered. Use a rate from the range that matches the loan, then read the boat loans guide for the age, survey and private-sale checks that sit around the repayment.

Secured anchor: 8.19%

RACQ Bank's secured boat loan, comparison 8.36%, on 10 October 2026. Up to 7 years for a new boat and 5 for a used one.

Unsecured: a wide range

NAB 7.50% to 22.00% on $5,000 to $55,000. ANZ $5,000 to $75,000, rate personalised. Plenti up to $50,000 on its boat loan page.

Term: 1 to 7 years

NAB, ANZ and Plenti publish one to seven years. A longer term lowers the repayment and raises the interest.

Your boat loan

Loan amount

Interest rate (% p.a.)

Term (years)

Repayment frequency

WeeklyFortnightlyMonthly

Monthly repayment

$814.70

60 repayments over 5 years at 8.19% p.a.

Total interest

$8,882

Total repaid

$48,882

Repayment and total interest at each frequency
Frequency	Repayment	Total interest
Weekly	$187.61 a week	$8,778
Fortnightly	$375.46 a fortnight	$8,810
Monthly	$814.70 a month	$8,882

Principal and interest only, before fees, at the rate you enter. Paying weekly or fortnightly over the same term saves a little interest because the balance falls sooner. An estimate, not a quote or offer of finance.

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A worked example: $40,000 over 5 years

At 8.19% p.a., RACQ Bank's published secured rate: about $815 a month, or $8,882 in interest over five years.

At 12% p.a., a mid point in the unsecured ranges: about $890 a month, and about $13,387 in interest.

Over seven years at 8.19%: about $627 a month, and about $12,688 in interest. The repayment is lower because you pay interest for two more years. RACQ's published maximum on a used boat is five years, so seven years is a new-boat term at the lenders that offer it.

On a $15,000 jet ski the same 8.19% over five years is about $306 a month. Many jet skis are financed unsecured because the amount is small, and the rate then comes from the personal loan range, not from the secured boat rate.

Before you trust the repayment
Add the motor, trailer and electronics if they are part of the purchase.
Budget marina or storage, insurance, registration and fuel on top of the loan. ANZ lists those as the running costs.
A used boat needs a PPSR search and, on a higher value hull, a survey. The repayment assumes you get the loan.
A commercial vessel is business asset finance, not this consumer calculator. See boat loans for that path.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans and a loan of $30,000 over 5 years for car and personal loans, unless the lender states another basis. Business loans and equipment finance for a business purpose have no mandatory comparison rate.

Boat loan calculator FAQs

What rate should I enter for a boat loan?

Your quote if you have one. Otherwise use a published anchor. On 10 October 2026 RACQ Bank published a secured boat loan at 8.19% p.a. (comparison 8.36%). Unsecured personal loans that fund boats run much wider: NAB 7.50% to 22.00% (comparison 8.54% to 22.88%) and Plenti from 5.95% for an exceptional credit file up to 24.09%. The floor is not the rate most people are offered.

What is the monthly payment on a $30,000 boat loan?

About $611 a month over five years at 8.19%, before fees, or about $667 at 12%. Over seven years, the longest term NAB, ANZ and Plenti publish, the repayment at 8.19% falls to about $470 and the interest rises. Interest on the five-year loan at 8.19% is about $6,661.

Are weekly boat loan repayments cheaper?

Slightly, over the same term, because the balance falls sooner. The gap is small next to the rate and the term. On a boat loan the decision that moves the cost is secured versus unsecured, and five years versus seven, not the day of the week you pay.

Does the calculator include fees?

No. It is principal and interest on the amount, rate and term you enter. RACQ Bank publishes a $120 document preparation fee and $0 establishment, monthly and extra repayment fees on its secured boat loan. NAB publishes a $15 monthly fee on its personal loan. Add those on top, and use the comparison rate when you line lenders up.

Can I include the motor and trailer?

Usually, if they are bought with the boat. Add their price to the loan amount. Plenti publishes that its boat loan can cover motors, trailers and marine electronics. A trailer bought later is a separate loan.