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Set sail sooner.

If you’re looking for a boat or a jet-ski, a personal loan can help you escape to the water sooner. Or, if you’re looking to upgrade, you could finance your dream boat in just a few clicks.

From fishing boats to pre-loved yachts, waterski boats and everything in between, you can apply online and set sail sooner than you think.

How does boat finance work?

Boat finance is simply a personal loan that’s used to buy a boat or  jet-ski. You can use the funds to buy a used boat or a brand new one – the choice is yours. Once you’re approved, you’ll pay the loan off in small, flexible, repayments. It’s that simple.

Boat loans from Great Southern Bank

Designed to help you pay your loan off easier, our loans come with:

  • A personalised interest rate.
  • $0 monthly account fee.
  • Fee-free extra repayments.
  • No penalties for early payout.
  • Free redraw – in case you need your additional repayments.3
    When to get a boat loan?

    You can apply for a boat loan at any time online. If you’re still deciding, read on for our top tips when buying a boat.

    View our boat loan rates and fees.

    3 things to consider when buying a boat

    Type of boat

    Choosing your boat is the most exciting part! The type of boat you buy should fit with the purpose or activities you wish to do.
    For example, water-skiers and wakeboarders may want to buy a bowrider, cabin cruiser, or a specialist ski and wakeboard boat. If you love fishing, a bass boat, centre console, cuddy cabin, or runabout, may be the boat for you.

    For ocean cruising and living, you may want to consider a yacht, sailboat, catamaran, or a houseboat.

    We recommend doing your research and enlisting the help of a boat expert before you buy. You can borrow as little as $5,000 and up to $75,000 for a boat so there’s a finance option for almost any boat (or jet-ski) you like.

    Ongoing costs

    Just like cars, boats come with ongoing maintenance costs. You may also want to set aside some cash for servicing, repairs, safety equipment and mooring fees.


    A boat is a big investment, don’t forget to get insurance to protect it. You’ll also have peace of mind if your boat is stolen or in an emergency.

    Boat loan calculator

    Estimate your repayments and find your loan today.

    Eligibility checklist

      You must be

    • At least 18 years of age
    • A permanent resident of Australia
    • Receive a regular income
    • Have not been bankrupt or insolvent in the last five years
    • You’ll need

    • An email address and contact number
    • Existing Great Southern Bank customer number (if you're already a customer)
    • Australian driver's licence, Medicare or passport details
    • Employment and income details
    • Details of any existing loans and expenses
      How to apply for a boat loan
      1. Apply online
      It should take 10 minutes. You will need proof of ID and your current financial information.
      2. Approvals
      If approved, you will receive your loan contract to accept online.

      3. Access your money
      Your loan is paid into your Great Southern Bank account.4 You can also view repayment details online and on our mobile banking app.
      We've been putting customers first for more than 75 years.
      Flexible loan options

      Pay it off your way.

      Clever features to help you save money

      From personalised interest rates to no monthly account fees, you’ll be saving smarter, not harder.

      We’re customer owned

      That means no shareholders. Our profits go back into new products and clever ways to help you manage your money.

      A personalised rate* tailored to your credit score

      Unsecured Fixed Personal Loan
      Loans from $5,000 to $75,000
      Interest rate from
      Comparison rate from2
      Used for

      Boat loan FAQs

      It’s normal to take your time deciding which loan is right for you.

      If you’d like some assistance, call us on 133 282 for a chat.

      What is a personalised interest rate?

      A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.

      When you apply for a personal loan, your individual situation and credit score will be considered when calculating your personalised interest rate.

      What is a comparison rate?

      A comparison rate is the interest rate, plus additional fees and charges you will be expected to pay over the loan term. As comparison rates indicate the true cost of a loan, they make it easier to decide which is best for you.

      Can I get a loan for a used boat?

      Yes. You can apply for a loan to buy a used boat. You can also buy from a dealer or private sale, so you’ll have plenty of options when looking for your ideal boat.

      Do boat loans require a down payment?

      No. You don’t need a down payment to apply for a boat loan. Once you are approved, you’ll simply make repayments as per your loan contract.


      Calculate your boat loan repayments

      An ideal loan for a range of purposes. Learn about personal loan types
      Available for new or used cars and motorbikes up to seven years old. Learn about personal loan types
      Available for electric and hybrid cars up to seven years old. Learn about personal loan types
      Available for eligible green purchases. Learn about personal loan types
      Must be between $5,000 and $100,000.
      Loan term (years)
      Repayment frequency
      Estimate your credit rating
      Tell us what you think your credit rating may be and we can estimate your interest rate. What’s a credit score?
      Estimated repayments
      Interest rate for good credit
      Comparison rate2
      This estimate is based on information you've provided. Your interest rate and repayments will be confirmed on assessment.
      Apply now
      Apply in 10 minutes
      Your total repayments will be $XX,XXX. Your total interest will be $X,XXX.

      The calculations provided are estimates only and are based upon the information entered by the user. The calculations do not include upfront or continuing credit fees and charges and do not constitute a loan application or variation to an existing facility, loan offer or loan approval.

      Your contracted personal loan repayments will be set to a monthly frequency, meaning you will need to meet the agreed repayment amount by the due date stated on your loan contract each month. To meet this minimum monthly amount, you can however make repayments weekly or fortnightly.

      Ready to apply?
      Apply online and set sail today.
      Apply now

      Learn more about personal loans

      Handy tips to help you find the loan that's right for you.
      Tips on how to get a personal loan

      Looking for a personal loan but unsure how to get started? We can help! This guide offers tips and advice for getting a personal loan.

      Read more
      Seizing the moment: a guide to personal loans

      Applying for a personal loan can be be a bit confusing. Read our guide to discover everything you need to know when applying.

      Read more
      Get in touch
      We're here to help.
      Call 133 282

      Mon - Fri: 8:00am - 7:00pm (AEST)
      Sat: 8:00am - 4:00pm (AEST)

      Find a branch
      Speak to one of our friendly staff at a branch near you.
      Connect online
      Chat to us or browse help topics and FAQs.
      Important Information

      Loans are issued by Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply.

      Rates current as at 8 May 2024 and subject to change.

      Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.

      1. Comparison rate examples are accurate for a personal loan amount of $30,000 secured loan over a term of 5 years. WARNING: Comparison rates are 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.

      2. Comparison rate examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 5 years. WARNING: Comparison rates are 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.

      3.  A $200 minimum withdrawal amount applies for redraws conducted in-branch. Redraw facility is available for Great Southern Bank Personal Loan products on offer from 6 June 2017.

      4.  You will need to hold a Great Southern Bank everyday account when the loan is funded.

      *The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:

      • Your credit score.
      • Information provided in your application.
      • Existing loans.
      • The loan amount and your perceived ability to repay the loan.

      Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.