Electric vehicle loan
A fixed-rate secured loan for people living in Australia to buy a new or used fully electric car or motorbike, or refinance an electric vehicle purchase loan.
Questa opportunità è attualmente disponibile in inglese.
You can borrow from AUD 1,000 up to the full vehicle purchase price. The maximum term is seven years for a new electric vehicle and five years for a used vehicle. Bank Australia currently offers a fixed interest rate of 6.29% a year, effective 18 September 2026; the rate stays fixed for the life of your loan.
You repay the loan with interest through regular weekly, fortnightly or monthly payments. You can make extra repayments or repay the loan early without a penalty, but you cannot withdraw money you have paid ahead of schedule. Establishment, monthly, early repayment and late payment fees are AUD 0 for the fully electric vehicle offer.
Eligibility
- You must be at least 18, live in Australia as a permanent resident or hold a relevant work visa, and have a regular source of income. All applications need Bank Australia’s credit assessment and approval.
- The car or motorbike must be fully electric, with no internal combustion engine. Plug-in and regenerative hybrids do not qualify. Used vehicles can be up to seven years old, and motorbikes must be road registered.
- Refinancing is available for an existing electric vehicle loan whose original purpose was buying the vehicle.
- You must offer the vehicle as security for the loan. Bank Australia registers its security interest on the Personal Property Securities Register (PPSR), recording the vehicle as collateral for the debt.
How to apply
- Stato
- Aperto continuamente
- Restrizioni del bando
- Subject to credit assessment and approval.[^c11]
Apply through Bank Australia’s online loan application. To get started, have your driver’s licence or passport and your Medicare card. The bank also asks for information about your finances and the vehicle you plan to purchase, then assesses your application.