Car loans for the planet conscious

We do car loans by offering lower rates for low emission vehicles including electric vehicles. And you can pay off your loan early at no cost to you.

Compare our rates

Car loan - new cars

A car loan for new cars with internal combustion engines.
7.95
%
p.a.
Fixed rate
8.16
%
p.a.
Comparison rate*

Snapshot

  • 7 years – Maximum loan term for new vehicles
  • $1,000 – Minimum loan amount
  • $0 – Early repayment fee



Car loan - used cars

A car loan for used cars with internal combustion engines.
8.95
%
p.a.
Fixed rate
9.16
%
p.a.
Comparison rate*

Snapshot

  • 5 years - Maximum loan term for used vehicles
  • $1,000 – Minimum loan amount
  • $0 – Early repayment fee


LEV car loan

A reduced interest rate car loan for hybrid and EVs.

6.95
%
p.a.
Fixed rate
6.95
%
p.a.
Comparison rate*

Snapshot

  • 7 years – Maximum loan term for new vehicles
  • 5 years - Maximum loan term for used vehicles
  • $1,000 – Minimum loan amount
  • $0 – Early repayment fee
  • No establishment fees

Supporting the transition to electric


We're at a crucial moment for climate – and it's the number one issue our customers care about. As part of our climate action strategy and our ambitious target of reaching net zero emissions by 2035 , we'll cease funding car loans for new fossil fuel cars from 2025.

Learn more about our commitment

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In support of people and the planet

Customer owned, you have voting rights

Purpose-driven banking

Renewable electricity
powers all offices and branches

Bank Australia employees based in Australia

Certified carbon neutral bank since 2018

Yes, we did start out as the CSIRO Co-operative Credit Society in 1957

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Things you need to know

CAR LOAN

  • *Comparison rate: The Comparison Rate is based on a secured loan of $30,000 for 5 years. Additional fees and charges may be applicable. WARNING: This comparison rate is true only for the example given and may not include all fees and charges.
  • ^Carbon emissions: We calculate emissions associated with each car loan based on average vehicle emissions figures and average mileage figures for Australian vehicles (sources: National Greenhouse Accounts Factors and Australian Bureau of Statistics). For each car loan, we use the average vehicle emissions factor multiplied by the share of the year that the car loan was active. To access this rate, we require a Goods Security Agreement on the car. The car must also be registered in the name of the borrower.
  • #Bank Australia Low Emission Vehicle criteria: Bank Australia may provide a Low Emission Vehicle (LEV) pricing benefit if the car is Pure Electric, Plug In Hybrid Electric, Regenerative Hybrid or the internal combustion engine produces less than 125 g / km Tailpipe C02 (g/km) as published by Green Vehicle Guide©.
  • © Commonwealth of Australia (Department of Infrastructure, Regional Development and Cities) 2018 Limited End-user licence provided by the Department of Infrastructure, Regional Development and Cities: You may print and reproduce views obtained from the Green Vehicle Guide data, retaining this notice, for your personal use only. The Department of Infrastructure, Regional Development and Cities gives no warranty regarding the Green Vehicle Guide data's accuracy, completeness, currency or suitability for any particular purpose

GENERAL ADVICE

  • Information provided is general in nature only. Any information and advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and seek any third party advice you need.
  • All applications are subject to a credit assessment and approval.
  • All applicable terms and conditions will be included in our loan offer.
  • Additional fees and charges may be payable – all relevant details will be included in our loan offer.
  • Information and interest rates are current as at the date of publication and are subject to change at any time, at the discretion of Bank Australia Limited.