Qudos Bank joins the under 6% club of home loans

By JP Pelosi · · 1 min read
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Qudos Bank has cut rates on its No Frills Home Loan (Owner Occupier, Principal & Interest), bringing it under 6% p.a. 

Qudos joins the ‘under 6% club’ in effect, with its headline rate now at 5.99% p.a., as per Mozo data. 

Keep in mind that loan-to-value-ratio (LVR) typically impacts which rate you are offered. For example, to secure the lower 5.99% p.a. rate from Qudos you must meet an LVR of 70%, meaning a 30% initial deposit (or equity) is required.  

Are there other home loans with an interest rate lower than 6%?

Currently in the Mozo database there are about a dozen owner-occupier (P&I) home loans below 6%, including Community First’s Basic Variable Home Loan at 5.94% p.a. (comparison rate 5.96%) and Homestar’s Star Classic Home Loan at 5.99% (same comparison rate). 

There are several others and these are worth reviewing on our home loans comparison page, including Unloan's Variable Home Loan at 5.99% p.a. (5.90% comparison rate) on an 80% LVR.

It should be noted however that headline rates do not typically factor in fees and therefore are lower. For a complete picture, review the loan’s comparison rate as this takes into account any fees. 

In the case of Qudos, its newly revised home loan rate equates to 6.09% comparison rate. 

If you’re ready to compare home loans be sure to check out some of the leading loans below or visit our home loans comparison hub page.

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Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 471 home loans.
Last updated 27 July 2024 Important disclosures and comparison rate warning*
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    Express Home Loan

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    6.14% p.a.

    Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

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  • OMG Home Loan

    Owner Occupier, Principal & Interest, <60% LVR

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    BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.

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