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Loans

Low Cost Loans

The RAAF Welfare Trust Fund is a not-for-profit organisation offering a simple, low cost loan approach solely for our Aviators.  

Whether it’s for general use purposes like home improvements or to explore a professional development opportunity or to get you through during times of hardship, our aim is to provide low cost loans that enhance quality of life for Air Force Aviators and their families. 

See below for loan types and information on how to apply.

Who is Eligible

Loans are available for SERCAT 6 and 7 Aviators on completion of initial training (1RTU / OTS / ADFA). Reserve Aviators undertaking Continuous Full Time Service (CFTS) for at least 6 months are also eligible.

Loan Conditions

  • One loan at any one time
  • General Purpose and Emergency Loan terms up to 2 years
  • Home Improvement Loan term up to 4 years
  • Repayable through Aviator's Defence pay bank account
  • Interest free but attract a non-refundable Fund Maintenance Contribution (FMC) to assist in defraying administrative expenses and to provide growth for the RWTF
  • Access to loans is no longer dependent on Group Life Insurance (GLI) membership, but GLI members are entitled to the lowest available loan fees: General Purpose 3% p.a. and Home Improvement 4% p.a. Non-GLI member loans incur an additional 0.5% p.a. loan fee
  • Repay in full before end of current engagement term
  • In normal circumstances loan "top ups" will not be made, i.e. approval will not be given to pay out the balance of one loan with the proceeds of a new loan
  • Aviators may repay all of the outstanding loan balance at any time in one lump sum
  • Aviators may increase their fortnightly payroll deductions at any time (rather than making partial repayments via bank transfer)
  • Finalisation of an existing loan does not guarantee approval a new loan. All new loan applications are treated on their merits taking into consideration factors such as current financial position, remaining tenure of employment with the RAAF and Commanding Officer comments
  • Where loan repayments exceed the total amount of the loan plus FMC, a refund of the overpayment will be made providing that the overpayment is in excess of $10

Looking for Early Loan Payout Information?

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Loans Available:

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Loans3

General Purpose Loans

  • A General Purpose loan up to $6,500 for any worthwhile purpose such as purchasing a car, furniture or appliances, for home or car repairs, or to take a holiday
  • This loan replaces the previous Group Life, Professional Development and Long
    Service loan categories
  • No longer requires being a Group Life Insurance (GLI) member, but GLI members
    are entitled to the lowest loan fee of 3% p.a. (otherwise 3.5% p.a.)
  • Repayments up to 2 years via your pay, based on your chosen repayments schedule
  • To receive the discounted loan rate you must remain a GLI member for the duration
    of the loan term
Apply Online

Home Improvement Loans

  • A Home Improvement loan between $6,500 and $10,000 to build, buy, renovate or furnish a home
  • Group Life Insurance members are entitled to the lowest loan fee of 4% p.a. (otherwise 4.5% p.a.)
  • Repayments up to 4 years via your pay, based on your chosen repayments schedule
  • To receive the discounted loan rate you must remain a GLI member for the duration
    of the loan term
Apply Online
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Emergency Loans

  • Emergency loans are normally available up to $1,000 to meet temporary circumstances such as emergency housekeeping expenses, family medical or dental expenses, pressing household bills or fares for travel on compassionate leave.
  • FMC free
Apply Online
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Group Life Insurance Loan

A Home Improvement loan of up to $4,500 may be made to help a member build or buy a home or to furnish a home with new or second hand furniture.  

Apply Online

Need information about the application process?

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Last day for the RWTF to receive loan applications this year is COB Monday 15 December.