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3 Aug Today's
best rate
Finance Boats From
3.99 %
Fixed
With a low
5.22 %
Comparison*
*The Comparison Rate is calculated on a Secured Loan of $30,000 fixed for a term of 5 years, new goods, effective 03/08/2021 and subject to change. WARNING: The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

Compare Boat Finance Rates

We pride ourselves on achieving better interest rates on marine loans. See for yourself how our rates deliver better loan repayments compared with other lenders in the market. Just enter the amount of your loan and the number of years you would like to repay the loan and our comparison tool calculates the possible repayments.

Loan Amount
Loan Term
Jade
Boat Loans
3.99% Secured
5.22% Comparison
$630.5
Monthly repayment
CBA
Variable Rate Loans
13.50% Variable
14.37% Comparison
$859.25
Monthly repayment
ANZ
Variable Personal Loan
12.99% Variable
13.86% Comparison
$846.5
Monthly repayment
NAB
Variable Rate Loans
12.69% Variable
13.56% Comparison
$839
Monthly repayment
St George
Fixed Rate Personal Loans
11.49 % Fixed
12.57% Comparison
$814.25
Monthly repayment
Suncorp
Fixed Rate Loan
7.79% Fixed
8.39% Comparison
$709.75
Monthly repayment
Westpac
Fixed Rate Loans
11.99% Fixed
13.15% Comparison
$828.75
Monthly repayment
CUA
Variable Rate Loan
11.89% Variable
12.15% Comparison
$803.75
Monthly repayment
Lender Product Name Advertised Rate Comparison Rate Monthly Repayment
Jade Boat Loans 3.99%Secured 5.22%
$630.5
CBA Variable Rate Personal Loan 13.50%Variable 14.37%
$859.25
ANZ Variable Personal Loan 12.99%Variable 13.86%
$846.5
NAB Variable Rate Personal Loan 12.69%Variable 13.56%
$839
St George Fixed Rate Personal Loan 11.49 %Fixed 12.57%
$814.25
Suncorp Fixed Rate Personal Loan 7.79%Fixed 8.39%
$709.75
Westpac Fixed Rate Personal Loans 11.99%Fixed 13.15%
$828.75
CUA Variable Rate Personal Loan 11.89%Variable 12.15%
$803.75
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*Disclaimer: Comparison Rate Calculations are based on a $30,000 secured personal loan 5 year term at a fixed interest rate. The comparison rate is true only for the examples given and to be used as a comparison guide only as the interest rate you achieve on your loan may vary from the rates indicated. Not all loan fees and charges applied by individual lenders and finance brokers are included in the calculations. The repayments you are offered on your specific loan may vary from what is displayed. Use of this comparison tool is not an indication of a credit offer, financing approval or lending application.

Cheaper Boat Finance Rates

Make certain that prior to looking for lending that you have talked to us and compared your rates with our competitive leasing and lending options. Specialists in the finance industry, we has been providing marine financing for over 10 years and will never be outdone!

We can offer better interest rates that many can not.

Boat Loans Interest Rates

Interest rates are at the very core of all types of lending and the key element in determining how much you’ll pay each month on your finances, how much you will pay in total on the loan and how quickly you’ll own your dream boat. If you’re in the market you should also be in the market for the cheapest interest rate boat loan.

As specialists in cheap boat loans, we’ve are totally focused on achieving cheap interest rates for our customers and have an enviable track record for achieving that objective. We are determined, resolute and undeterred in our policy to never be outdone on interest rates.

To appreciate the significance of interest rates in lending, it can be helpful to understand how rates are derived and why rates on marine finance vary from lender to lender and across the different loan types available.

The Reserve Bank of Australia (RBA) set the official cash rate which is not the rate that applies to marine finance but the overnight rate for borrowings amongst lenders. As you are probably aware, the official cash rate and general borrowing rates are at historic lows. This situation is the result of the RBA moving rates as part of COVID-19 stimulus measures and global impacts. For rates to be increased, the RBA has repeatedly stated that it is looking for unemployment figures to be sub 5% and inflation in the 203% range.

Essentially, the rate set by the RBA is the foundation price from which lenders set their individual rates. More About RBA

Using the Lender Table to Compare Boat Loan Interest Rate

Interest rates vary across the lending sector and within different loan types and categories. Lenders set their rates using the official cash rate as a basis, then allow for their own costs of acquiring funds to lend and operational costs. They then assess their exposure to a particular market or their preparedness to lend in that area, such as boat loans.

The rates advertised by lenders for consumer finance will include an advertised rate and a comparison rate. The advertised rate will be the lowest rate achievable and typically for a borrower with a good credit report and score, a strong application that includes the requested financial information and on new boats. The advertised rate will not include an allowance for fees and charges apply.

The comparison rate is required by law to be displayed by all lenders that offer consumer finance. This rate applies to a specific lending example, the details of which must be displayed alongside the rate. It is the rate applicable to that loan when fees and charges, but necessarily all, are allowed for. This can provide borrowers with a better indication of the rate they may achieve.

To make the process of comparing rates across lenders, we’ve provided a convenient lender interest rate comparison calculator. It lists a selection of banks and non-bank lenders and our own rates. The details show the specific loans offered by that lender for personal boat financing.

To see the difference in what your repayments may be from any of the lenders listed, you only have to input the amount you want for your loan and the length of time to repay the loan. The repayment estimates are automatically displayed alongside each lender in the table. The rate you are personally offered may vary from that displayed, but this is a great guide and a must-have loan tool.

How You Can Benefit from Our Boat Financing Interest Rate Tool

As specialists in marine lending, we are well aware of the lengths that borrowers need to go to find the cheapest rated finance and even to find a lender that offers a suitable financial product type. The lending market is vast which can add to confusion and the time taken to even find the right lender. We are accredited with multiple banks and lenders so we’re across the complete market with exclusive industry access to specialist lenders.

So we’ve brought many of the benefits that our consultants realise when sourcing our customer loans within easy access for our customers. Multiple lender rates in one place so you can realise the benefits.

  • See at a glance what your bank is offering on boat loans and which lenders are offering cheaper rated deals.
  • Instantly see why we are at the forefront of cheap rate loans in the marine sector.
  • Plan your loan before even completing an application form.
  • Set your sights on a boat that fits within your repayment zone.
  • Compare different makes and models if price and repayments are the key decision factors.
  • Convert boat prices to repayments.
  • See the difference in repayments when you include optional accessories and extras.
  • Have an estimate on what your repayments may be before you commit to a purchase.
  • Purchase within your budget limits.
  • Use for all types of new boat finance
  • Save you time in having to visit the website or enquire directly from multiple lenders.
  • Have on your phone at boat shows and when inspecting vessels to quickly calculate repayments on the price tag.
  • Vary the loan term and the loan amount and see instantly how the repayment amount changes

Our interest rate tool is free and easy to use and there is no obligation to proceed.

How You Benefit from Sourcing the Cheapest Boat Loan Rates

As you can easily see in our interest rate tool, the rates on marine finance can vary quite significantly from lender to lender. While one small difference in an interest rate, known as a basis point, may seem insignificant on the surface that is not the case when you dive deeper. When you consider the real benefits of sourcing the cheapest interest rated loan the real significance of that basis point difference becomes increasingly clear.

  • Over the full term of marine finance which can be up to 7 years, the cost of the smallest variation can add up to a significant amount in total over the term of the loan.
  • Sourcing the cheapest rate reduces the monthly repayment.
  • Sourcing the cheapest rate reduces the total interest that you pay on the loan. That means you actually pay less for your boat.
  • The cheaper rates can mean you can pay off the marine vessel sooner. A cheaper rate may allow you to opt for a shorter term. That means you own your vessel earlier.
  • Cheaper rates can allow you the room to add optional extras to your financing. Many models will have optional upgrades and accessories which are additional to the purchase price. You may want these extras but the extra cost may be deterring you. With a cheaper rated loan, selecting those extras to enhance your boating experience may become a real possibility.

Sourcing cheaper lending may assist you to better balance your household budget to make the dream of boat ownership a reality for your family and friends.

Importance of Comparing Boat Finance Rates

Comparing rates on marine vessel finance involves comparing lenders. Selecting a bank or lender based on reasoning such as loyalty, a recommendation by a friend or colleague or just because they seem like a good company can be costly decision-making.

Not all lenders offer specific boat loans and will offer consumers a more generic unsecured personal loan. This is the type of lending which could be used for all sorts of goods. This limited selection may reflect the lack of understanding of the marine market and a lender that does not share your passion for boating.

Opting for the finance offered by the dealer at the point of purchase may seem like a quick and convenient way to source finance. But have you paid full attention to the interest rate being charged?

Lenders such as us that specialise in marine financing, have vast accreditations with lenders, have a long-standing interest in the sector, have strong connections with specialist lenders and a team that is across many areas of the marine sales market. We understand the market, we have the bargaining power to negotiate the lowest rates. All that places us in the box seat to offer the cheapest interest rates on our specialist loans.

Other aspects to consider are that the rate offered for a specific individual loan will include the lender’s assessment of:

  • The loan amount being requested
  • The loan term being requested
  • The age and condition of the boat
  • Aspects of an individual’s credit history and score
  • Details included in the loan application form

Your Jade consultant will be handling your loan individually and negotiating on all these aspects to ensure we achieve you the cheapest interest rate loan.

Speak to our consultants to source the best deal. Call 1300 000 003

Boat LoanComparison Repayment Calculator

Stop dreaming about that new water craft, jetski, dinghy or vessel and take action on making it happen!
Use our online boat finance repayment calculator to get an estimate on repayments for the vessel of your dreams.

Finance Calculator Disclaimer

Boat Loan Interest Rate FAQs

The issue of interest rates can raise a lot of questions for both new boat loan buyers and even those who are long-time borrowers. Interest rates differ across different sectors of consumer finance and we appreciate that many people will have queries. To elaborate on the information provided in our web pages and in our blog articles, we’ve addressed some direct questions right here. For more answers, just get in touch with Jade Boat Loans.

Why is the commercial boat loan interest rate lower than the personal interest rate?   

Commercial marine finance are for business borrowers. In general, due to the nature of a business operation, a business is deemed a lower risk by lenders than personal loan borrowers.


Business have ongoing trading operations are often operating from a fixed place of business and often have many other aspects including additional security by way of property and equipment which make them a more secure borrower.


A personal borrower is deemed a higher risk assessment compared with a business and that is reflected in the different interest rates for business and personal use marine loans. This difference in business and personal loan interest rates is consistent across all types of finance – boats, cars, etc 

What will my boat loan interest rate be?   

The interest rate that Jade is currently advertising is today’s best rate for watercraft loans and a general guide. This rate is derived on numerous calculations and formulations which take into account what our lenders are offering, global economic influences and other factors. Our interest rate varies at various times depending on changes in the lending market. The interest rate that you will be offered on your boat loan is calculated based on taking into account individual aspects of your boat loan application. Individual lenders will assess individual loan applications and offer the interest rate they consider suits that application. Your Jade consultant will negotiate and source the cheapest interest rate achievable for your particular loan. The interest rate you are offered may be exactly what we are advertising today or it may be higher.

How can I get a cheaper boat loan interest rate?   

The interest rate you are offered is based on your individual application and the security or boat you are lookng to finance. If you are looking to the future, there may be issues with your credit profile or credit score that you may be able to address and fix which will improve your credit profile and thus increase your possibilities of achieving a cheaper rate on future loans. There may be other aspects of your current loan application that can be addressed that may attract a cheaper interest rate. You would need to discuss these with the broker or lender as these would be totally individually addressed. There may be conditions around the loan that you may opt to change which may attract a cheaper rate by reducing your risk assessment. These may include reducing the overall loan amount and/or paying a larger deposit to the seller so the security held by the lender represents less of the overall value of the boat.

Is the boat loan interest rate fixed or variable?   

The majority of marine finance provided in Australia is secured lending at a fixed interest rate. The rate is fixed to the rate which is offered at the time the loan contract was arranged and settled. Changes to the official interest rate by the Reserve Bank will not impact a fixed interest rate loan that is already current. 

Why is the comparison boat loan interest rate higher?   

A comparison interest rate is relevant only to consumer loans, not business loans. The comparison interest rate is a  computation of multiple aspects of a loan. The comparison interest rate shown on any advertisement for consumer credit is displayed as an example. A comparison rate is computed based on a specific initial loan amount which has been arranged at a specific interest rate over a specific time frame and adding in the loan fees and charges and then averaged over the entire loan period. As the comparison rate includes these fees and charges, it will always be higher than the general interest rate. Lenders are required by law to display a comparison interest rate with all advertisements for consumer credit. When comparing marine loans, borrowers should compare comparison rates when the loan specifics are identical.

When are boat loan rates expected to increase?   

Through 2020 and into 2021, rates across the board have been at historic low levels. The Reserve Bank of Australia is responsible for setting the official cash rate which is the basis for lenders to set their individual levels. The RBA reduced rates as part of monetary policy stimulus measures to stimulate the economy due to the coronavirus impacts. The RBA has indicated it is looking for key economic indicators including unemployment in the sub 5% range and inflation in the 2-3% range before considering a rate rise. It has been indicated that may be in 2023 but it may be sooner. The RBA has said it expects rates to remain low ‘for some time’. Lenders want to remain competitive in the market and tend to wait until the RBA acts before changing their own rates. The RBA Board meets on the first Tuesday of each month (excluding January) and an announcement re rates is made at that time.

Does the type of vessel change the boat finance rates?   

The type of vessel does not necessarily affect the pricing of a loan but it will be taken into account by lenders when assessing a lending application. The same rate usually applies across finance for all new models for all types and makes. That would include vessels for fishing, cruisers, yachts, runabouts, luxury superyachts and tinnies. With older models, lending for used craft may attract a different rate. The rates advertised by lenders can generally be presumed to refer to an applicant with a good credit rating, strong application and for new goods. The rate offered on lending can be determined more from the credit rating and aspects of the application rather than vessel type.

Are boat finance interest rates the same for pre-approved loans?   

Yes. A pre-approved loan is simply finance which is sourced, quoted, arranged and approved prior to a purchase being made. It is arranged based on the amount that the borrower intends to spend and an indication of the make/model of the intended purchase. Pre-approved financing is available across all lending products and attract the same rates that are applied for and approved after a purchase commitment has been made. Pre-approved lending have a time limit after which the deal would be reviewed and possibly re-priced depending on the economic climate and any changes in the purchase specifications and the purchaser’s circumstances.

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