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Marine finance

Boat finance and boat loans

Boat finance is either a secured boat loan, with the boat as security, or an unsecured personal loan, usually over one to seven years. RACQ Bank published a secured boat loan at 8.19% (comparison 8.36%) in September 2026, with up to 7 years for a new boat and 5 for a used one, while NAB’s unsecured personal loan for a boat runs from 7.50% to 22.00% on $5,000 to $55,000. On $30,000 over five years at 8.19%, the repayment is about $611 a month.

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

Monthly principal and interest repayments over 5 years, by loan amount and interest rate
Loan amountMonthly repayment at
7.5%p.a.8.19%p.a.12%p.a.15%p.a.
$10,000$200$204$222$238
$20,000$401$407$445$476
$30,000$601$611$667$714
$50,000$1,002$1,018$1,112$1,189
$80,000$1,603$1,629$1,780$1,903

Scroll the table sideways for more rates

Illustrative monthly principal and interest repayments over 5 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. 8.19% is RACQ Bank's published secured boat loan rate (September 2026); 7.5% is the bottom of NAB's unsecured range. Run your own numbers.

Calculator

Boat loan calculator

Boats, jet skis, and marine vessels

Loan amount$40,000
$5,000$150,000
Interest rate8.19% p.a.
5.00% p.a.15.00% p.a.
Loan term5 years
1 year7 years
Monthly repayment
$814.70
Total interest
$8,882
Total repayment
$48,882
Principal 81.8%Interest 18.2%
Get a personalised quote

Estimates only. Actual rate and repayment depend on your lender, loan structure and credit assessment.

Boat loan lenders a broker can compare

Lenders in our directory that write vehicle loans. Boat policy varies by lender, and many fund boats only through an unsecured personal loan: Pepper Money publishes watercraft finance, for example, and Plenti an unsecured boat loan. The broker checks which lenders will take your boat.

Boat loan lenders a broker can compare: each lender's type, the products it offers and its current rate
Commonwealth Bank of AustraliaMajor bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate:
6.79%p.a.
8.20% p.a. comparison rate*
Personal Loan Secured (New Vehicle) · Secured Fixed Rate Car Loan, secured by the car being bought: from rate for excellent credit (rates up to 11.29% p.a.); comparison on a $30,000 loan over 5 years.
Westpac Banking CorporationMajor bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
  • EV / Green
Current rate:
6.49%p.a.
7.90% p.a. comparison rate*
Car Loan Secured · Car Loan for petrol, diesel or LPG cars, fixed rate, secured by the car: from rate; the rate offered depends on your credit assessment.
Bank AustraliaCustomer-ownedProducts:
  • EV / Green
  • Secured (used vehicle)
Current rate:
6.29%p.a.
6.29% p.a. comparison rate*
Clean Energy Car Loan · Electric Vehicle Loan, fixed rate, secured, new electric vehicles; establishment fee waived for fully electric vehicles; comparison on a $30,000 secured loan over 5 years.
Liberty FinancialNon-bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate:
8.99%p.a.
10.65% p.a. comparison rate*
Liberty Drive Secured · Flexible car loan, secured, new and used cars: from rate; comparison on a $30,000 new-car loan over 5 years with no balloon.
MoneyMeSpecialistProducts:
  • Secured (new vehicle)
Current rate:
6.24%p.a.
7.13% p.a. comparison rate*
MoneyMe Secured Car Loan · Secured car loan, variable rate, new or used vehicles: from rate for excellent credit history (maximum 26.10% p.a.); $12.50 monthly fee.
Now FinanceSpecialistProducts:
  • Secured (new vehicle)
Current rate:
7.59%p.a.
8.43% p.a. comparison rate*
NF Secured Car Loan (Tier 1) · Vehicle Loan secured by the vehicle, new or used: from rate (rates up to 15.39% p.a.); establishment fee up to $595.
PlentiSpecialistProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
  • EV / Green
Current rate:
7.99%p.a.
9.78% p.a. comparison rate*
Plenti Car Loan (Tier 1) · Secured car loan, new or demo vehicle, homeowner with exceptional credit: from rate (rates up to 12.99% p.a.); comparison on $30,000 over 60 months including a $14.90 monthly fee.
Australia and New Zealand Banking GroupMajor bankProducts:
  • Unsecured
Current rate: ANZ rate card (opens in a new tab)
National Australia BankMajor bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: NAB rate card (opens in a new tab)
BankSAMajor-bank brandProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: BankSA rate card (opens in a new tab)
Show all 16 lenders
Boat loan lenders a broker can compare, continued
ING AustraliaTier-2 bankProducts:
  • Unsecured
Current rate: ING rate card (opens in a new tab)
IMB BankCustomer-ownedProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: IMB rate card (opens in a new tab)
Newcastle Permanent (Newcastle Greater Mutual Group)Customer-ownedProducts:
  • Secured (new vehicle)
Current rate: Newcastle Permanent rate card (opens in a new tab)
Teachers Mutual BankCustomer-ownedProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
Current rate: Teachers Mutual rate card (opens in a new tab)
Pepper MoneyNon-bankProducts:
  • Secured (new vehicle)
  • Secured (used vehicle)
  • Unsecured
Current rate: Pepper Money rate card (opens in a new tab)
Angle FinanceSpecialistProducts:
  • Secured (new vehicle)
Current rate: Angle Finance rate card (opens in a new tab)

Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.

See all 20 car loan lenders

* WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Car loan comparison rates are based on a secured loan of $30,000 over 5 years.

Boat finance at a glance
  • Runabouts, fishing boats, cruisers, yachts, pontoons and jet skis, new or used
  • Secured boat loan: RACQ Bank 8.19% (comparison 8.36%), up to 7 years for a new boat and 5 for a used one, no deposit or monthly fees
  • Unsecured: NAB $5,000 to $55,000 at 7.50% to 22.00%; ANZ $5,000 to $75,000; Plenti up to $50,000 with $0 monthly fees
  • Motor, trailer and marine electronics can often be included in the loan
  • Budget for insurance, registration, storage or marina fees, fuel and maintenance on top

What do lenders publish on boat loans?

Read from each lender's boat loan page on 30 September 2026. RACQ Bank's retail lending is moving to Bendigo Bank in November 2026, subject to regulatory approval, so its terms may change.

LenderLoan typeAmount and termRate and fees as published
RACQ BankSecured boat loanUp to 7 years for a new boat, 5 for a used one; no deposit8.19% (comparison 8.36%); $0 establishment, monthly and extra repayment fees; document preparation fee
NABUnsecured personal loan for a boat or jet ski$5,000 to $55,000; 1 to 7 years7.50% to 22.00% (comparison 8.90% to 23.29%); $250 application fee, $15 a month, $0 exit fee
ANZUnsecured personal loan for a boat or jet ski$5,000 to $75,000; 1 to 7 yearsPersonalised on your credit score; no early repayment fees
PlentiUnsecured boat loanUp to $50,000; 1 to 7 years5.95% to 24.09% across its personal loans (as at 9 September 2026); $0 monthly and early repayment fees
Pepper MoneyWatercraft loanNew or used boats, jet skis and personal watercraftPersonalised

What lenders look for in boat finance

On top of the usual income, expenses and credit checks, lenders look at the boat itself, especially on a secured loan:

Age, hull and motor

The boat's age, hull material and condition, and the motor's hours affect its value as security. For a used boat ANZ suggests a marine surveyor for the hull and electrics and an engine surveyor for the motor.

A clear title

A PPSR search shows whether money is owing on the boat, and a maritime authority or police check in your state shows whether it is recorded as stolen.

Insurance and storage

Secured lenders usually want the boat insured, and may ask where it will be kept: a marina berth, dry storage or on a trailer at home.

Registration and licensing

Registration and licence rules for boats and personal watercraft vary by state and territory, and a registrable boat usually needs to be registered by settlement. Check the rules with your state's maritime authority before you buy.

Budget for the running costs

The purchase price is only the start. ANZ lists insurance, registration, licences, taxes, marina fees or storage, equipment and accessories, fuel and maintenance, and notes that boats can depreciate significantly in the first couple of years.

How boat finance works

1
Describe the boat
Type, make, year and price, including the motor and trailer.
2
Compare lenders
A broker compares secured and unsecured options across the lenders on their panel.
3
Approval and checks
Approval, then the PPSR search and any survey on a used or higher-value boat.
4
Settlement and launch
The lender pays the seller and you get on the water.

A car finance broker can compare the secured and unsecured options for your boat before you commit to one.

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Published ranges by lender

WARNING: This comparison rate is true only for the example 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, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.

Boat loan FAQs

What is the monthly payment on a $20,000 boat loan?
About $407 a month over five years at 8.19%, the secured boat loan rate RACQ Bank published in September 2026, before fees. At 12% it is about $445. Unsecured boat loans are priced on your credit file: NAB’s personal loan for a boat runs from 7.50% to 22.00%.
What is the monthly payment on a $30,000 boat loan?
About $611 a month over five years at 8.19%, or about $667 at 12%, before fees. Over seven years, the longest term NAB, ANZ and Plenti publish, the repayment at 8.19% falls to about $470, but you pay more interest in total.
What is the payment on a $50,000 boat loan?
About $1,018 a month over five years at 8.19%, or about $1,112 at 12%, before fees. $50,000 is near the top of some unsecured limits (NAB $55,000, Plenti $50,000), so a boat at this price is often financed on a secured loan.
What’s a good rate for a boat loan?
Something near the bottom of the published ranges. RACQ Bank published 8.19% (comparison 8.36%) on its secured boat loan in September 2026, and Plenti’s unsecured personal loans run from 5.95% for an exceptional credit file up to 24.09%. NAB’s unsecured personal loan for a boat runs from 7.50% to 22.00%. Compare offers on the comparison rate, which includes the fees.
Is it worth getting a loan for a boat?
It can be, if the repayments fit your budget alongside the running costs, which ANZ lists as insurance, registration, licences, storage or marina fees, equipment, fuel and maintenance. ANZ also notes boats can depreciate significantly in the first couple of years, so a long loan on a new boat can leave you owing more than it is worth; a shorter term, a deposit or a used boat reduces that risk.
What types of boats can be financed?
Most recreational vessels: aluminium runabouts, fibreglass fishing boats, centre consoles, bowriders, cabin cruisers, sailing yachts, catamarans, pontoon boats and personal watercraft such as jet skis. Pepper Money publishes finance for new or used boats, jet skis, Sea-Doos and other personal watercraft, and Plenti for a yacht, fishing boat or jet ski, new or used.
Can I include the trailer and motor in my boat loan?
Usually. Plenti publishes that its boat loan can also cover accessories such as motors, trailers or marine electronics, and a boat, motor and trailer package bought together is normally financed as one amount. Safety equipment and other accessories can often be added; check with the lender before you sign.
What loan terms are available for boat finance?
One to seven years at NAB, ANZ and Plenti. RACQ Bank publishes a maximum of 7 years for a new boat and 5 years for a used one on its secured boat loan. A longer term lowers the repayment but raises the total interest.
Are boat loan rates different from car loan rates?
On a secured loan they can be close: RACQ Bank’s secured boat loan at 8.19% sits inside the secured car loan ranges the banks publish, which start around 6%. Many banks fund boats only through an unsecured personal loan, which is priced higher at the top of the range (NAB 7.50% to 22.00%). The rate depends on the boat’s age and value, the loan type and your credit file.
Do I need boat registration to get finance?
Not to apply, but a registrable boat will usually need to be registered by settlement, and the rules vary by state and territory. Check with your state’s maritime authority, and for a used boat run a PPSR search for existing finance and a maritime authority or police check for stolen status, as ANZ recommends.
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