Car Loan

A Quick Overview

Tailored rates available for cars, motorbikes, caravans and boats that are less than 5 years old. Members with a deposit of 20% or more of the purchase price of the car will be eligible for the lowest interest rate tier (Subject to normal lending criteria).

Tailored rates available
Based on your personal credit history
Quick online application
Apply in under 10 minutes
Optional redraw facility
Redraw fees apply


At Australian Military Bank, we’re all about good value. Our Car Loan offers competitive rates, tailored to you. Our Car Loan is available for cars, motorbikes, caravans and boats. We offer a range of benefits and features like the ability to make extra repayments or pay off your loan early without penalty, and the option to make loan repayments straight from your salary.

You can also enjoy peace of mind knowing that should the worst happen, you can cover your loan with our affordable Insurance options.

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  • Interest Rate from 3.60% p.a. to 7.30% p.a.
  • Comparison rate from 4.51% p.a. to 8.76% p.a.*
  • Application fee from $100 to $500
  • Monthly fee: $10
  • Loans from $4,000 to $80,000
  • Loan terms from 1-7 years
  • Maximum vehicle age of less than 5 years
  • The ability to make extra repayments or pay off your loan early without penalty
  • Flexible repayment frequency - pay weekly, fortnightly or monthly
  • Optional redraw facility – redraw fees apply

Here's what you'll need to apply

A bank statement showing your everyday transactions over the last three (3) months.
Your latest payslip.
An identification document (ie. Drivers Licence, Passport or MediCare Card).
Important Information

Rates are effective from 8 April 2020 and are subject to change. Terms, conditions, fees, charges and lending criteria apply. These are available at the time of application.


*Comparison rate based on a $30,000 loan over 5 years. WARNING: This comparison rate applies to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or costs and savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. A monthly repayment frequency and a term of 5 years have been used to calculate our comparison rate.


We get asked similar questions about our Car Loan so here are some common ones. If you have a different question, call us on 1300 13 23 28.

Can I make extra repayments on my loan?
Yes. You can make additional repayments on the Car Loan, which could help you pay it off sooner.
Can I redraw excess funds from my loan?
Yes. If you’re ahead in your repayments, the Car Loan allows you to redraw extra funds if needed.
Can I borrow for a motorbike, caravan or boat?
Yes, our Car Loan is also available for motorbikes and boats. If you’re unsure give us a call on 1300 13 23 28.

How old does my vehicle or boat have to be?
The car, motorbike, caravan or boat you purchase must be less than 5 years old. 
Can I choose my own loan term? 
Yes, you can select any loan term up to 7 years. If you select a longer loan term but would like to pay your loan off sooner, you can also make additional payments without penalty.
How was my interest rate determined? 
Amongst other features, rates are determined by your credit score. Your credit score (also known as Equifax Score) is a number calculated from information in your credit report provided by Equifax. This information includes numbers of credit applications you have made to financial institutions, the number of defaults or court judgements listed and the age of your credit file.
For more information, click here.
When do I find out what interest rate and comparison rate I’ll receive? 
If you apply in branch or over the phone, a lending specialist will be able to determine whether you’re approved as well as your interest and comparison rate after a short credit assessment. If you apply online, a lending specialist will be in touch within 24 hours to inform you of the outcome of your application and the relative interest and comparison rate.