Boat Loan

Sail away on your dream boat today. Apply now and we’ll call with your personalised interest rate.

Apply in less
than 10 minutes


Secured from
Comparison rate

Fees & charges

Establishment Fee$295

Loan Service Fee$10 per month
Australia Post Payment Handling Fee$1.50
BPAY® Payment Handling Fee$0.50

Late Payment Fee$40 in the event that you can’t make the minimum repayment by your agreed due date

Early Termination FeeUp to $750 is payable if you pay the loan out. See how this can change over time

Consumer and commercial loans available from 6.99%^ to 14.99%^ p.a. (8.10%* to 16.06%* p.a. comparison rate)

Calculate your repayments

Use our handy boat loan calculator to determine what your repayments may be on that new boat.

Loan details

Boat loans from $5,000

Fixed rateFor the life of the loan
Loan amountsFrom $5,000

RepaymentsWeekly, fortnightly or monthly

WhenChoose the day of the week your repayments are deducted

Loan terms1 - 7 years when purchased from a dealer
1 - 7 years for private sale purchases

Other benefitsBoats up to 7 years of age
Extra repayments accepted1

Month off

Got a month with high expenses like rego, insurance or holidays? Pay a little extra each month, then take one month off from your repayments. You can even choose which month you want to take off.

Balloon payments

Reduce your regular repayments, and opt to make a once off lump sum payment at the end of your loan, up to 30% of the vehicle value.

How to apply

  1. Check your eligibility and complete your application in under 10 minutes
  2. You'll receive a response in 90 seconds. Provide any required documents such as payslips and identification
  3. Return your signed contract to us online
  4. Within 24 hours of us receiving your signed contract, we pay and you sail away.


You must:
  • Be 18 years or over
  • Be a permanent Australian resident
  • Be currently employed
  • Be able to demonstrate a good credit history for the last 5 years
  • Be free from bankruptcy for the last 7 years

Frequently Asked Questions

About my loan
  • How much will I be able to borrow?

    The minimum loan amount for a boat loan is $3,000. Your borrowing limit will depend on lending criteria and your current financial situation.

  • How old can a used boat be?

    A loan can be used for boats and personal watercrafts of up to seven years old. If your boat does not meet this requirement, browse our <a href='/personal-loan' target='_blank'>personal loan</a> products to help you get out on the water.

  • What other types of motor loans are on offer?

    Not only do we provide boat loans; we also offer financing options for cars (up to 5 years old), light commercial vehicles (up to 4.5 tonnes), jet-skis (PWCs), campervans and caravans.

Application and approval
  • Will my boat need to be used as security?

    Yes, you will since our loans are secured. If you don’t believe this will suit your situation, perhaps one of our <a href='/personal-loan' target='_blank'>personal loan</a> products will instead.

  • When will I receive the funds once my loan is approved?

    After the contract is signed and returned, funds will usually be available in the boat seller’s account within the next business day.

  • How soon will a decision be made on my application?

    In most cases, you will have an answer within one to two business days.

Fees, charges and interest
  • Will the interest rate on my boat loan be fixed or variable?

    We offer a fixed interest rate loan, which means the interest rate on your loan and your repayment amounts stay the same throughout its life. Managing your budget can be easier this way.

Important information

^Approved customers only. Terms, conditions, fees and charges apply for Latitude Low Rate Personal Loan and Latitude Personal Loan. Terms, conditions, fees and charges apply for Latitude Car and Motor Loan. All applications are subject to lending and approval criteria. For the Latitude Low Rate Personal Loan, Excellent Credit Rating is as determined by Equifax.

Latitude Low Rate Personal Loan interest rate is 10.99% p.a. with a comparison rate of 12.21% p.a. and is available as a secured or unsecured loan.

Latitude Personal Loan rates range from 12.99% p.a. to 28.99% p.a. for secured loans (comparison rates 14.20% p.a. to 30.13% p.a.) and 13.99% p.a. to 29.99% p.a. for unsecured loans (comparison rates 15.19% p.a. to 31.13% p.a.).

Latitude Car and Motor Loan rates range from 6.99% p.a. to 14.99% p.a. (comparison rates 8.10% p.a. to 16.06% p.a.) and is available as a secured loan.

*The Comparison rate for the above products are based on $30,000 over 5 years.

WARNING: These comparison rates apply only to the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

EXAMPLE: An unsecured personal loan of $30,000 borrowed for 5 years with the minimum interest rate of 10.99% p.a. (12.21% p.a. comparison rate), would equate to a total amount payable of $40,233 (including a $250 establishment fee and $13 monthly loan servicing fees).

Results from the calculators should be used as an indication only, and they do not represent either a quote or pre-qualification or approval for a loan. The calculator should only be used as a guide to see how loan repayments can vary when you change the loan amount, interest rate and loan term. Fees and charges are payable and the calculators do not take these into account.