Qudos Bank joins the under 6% club of home loans
![](https://cdn.mozo.com.au/images/atwood/16004/GettyImages-1192822400.jpg)
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.
-
Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
Owner Occupier, LVR <80%
variable rate
comparison rate
Initial monthly repayment5.99% p.a.5.90% p.a.Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
CompareCompareUnloan Variable
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- variable rate
- 5.99% p.a.
- comparison rate
- 5.90% p.a.
- variable rate
- 5.99% p.a.
- comparison rate
- 5.90% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $10,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Unloan Variable
-
Basic Home Loan
Owner Occupier, LVR<60%, Principal & Interest
variable rate
comparison rate
Initial monthly repayment6.14% p.a.6.16% p.a.Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
CompareCompareBasic Home Loan
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
- variable rate
- 6.14% p.a.
- comparison rate
- 6.16% p.a.
- variable rate
- 6.14% p.a.
- comparison rate
- 6.16% p.a.
- Upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
-
Discount Great Rate Home Loan
Owner Occupier, Principal & Interest, LVR<80%, over $150k
variable rate
comparison rate
Initial monthly repayment6.19% p.a.6.21% p.a.An easy to use Home Loan with no establishment fee and no monthly or annual fees. Minimum deposit of 20% is required. Mozo Experts Choice Awards - Investor Home Loan Award 2024^.
CompareCompareDiscount Great Rate Home Loan
An easy to use Home Loan with no establishment fee and no monthly or annual fees. Minimum deposit of 20% is required. Mozo Experts Choice Awards - Investor Home Loan Award 2024^.
- variable rate
- 6.19% p.a.
- comparison rate
- 6.21% p.a.
- variable rate
- 6.19% p.a.
- comparison rate
- 6.21% p.a.
- Upfront fees
- $180
- Ongoing fees
- $0.00
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- -
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $2,500 cashback for loans more than or equal to $500,000 with LVR <80%. Applications from 1 June 2024, loan must be drawn down within 90 days from approval.
Read our Mozo Review to learn more about the Greater Bank Discount Great Rate Home Loan
-
Variable Home Loan 90
Principal and Interest, LVR <90%
variable rate
comparison rate
Initial monthly repayment6.04% p.a.6.06% p.a.Affordable home loan rate for buyers or refinancers. No monthly or ongoing fees. Option to add an offset for 0.10%. Access to savings with unlimited redraws available. Minimum 10% deposit required.
CompareCompareVariable Home Loan 90
Affordable home loan rate for buyers or refinancers. No monthly or ongoing fees. Option to add an offset for 0.10%. Access to savings with unlimited redraws available. Minimum 10% deposit required.
- variable rate
- 6.04% p.a.
- comparison rate
- 6.06% p.a.
- variable rate
- 6.04% p.a.
- comparison rate
- 6.06% p.a.
- Upfront fees
- $530
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the loans.com.au Variable Home Loan 90
-
The Better Home Loan Special Offer
Owner Occupier, Principal & Interest, LVR<80%
variable rate
comparison rate
Initial monthly repayment6.14% p.a.6.14% p.a.Enjoy a variable rate home loan with a bunch of features from Police Credit Union. Make extra repayments at any time without penalty. No monthly, annual or upfront fees. Free online redraw. Minimum 20% deposit. Qualifying criteria applies. Minimum loan amount is 200K. For new customers only. Mozo Experts Choice Home Lender Credit Union of the Year 2023.
CompareCompareThe Better Home Loan Special Offer
Enjoy a variable rate home loan with a bunch of features from Police Credit Union. Make extra repayments at any time without penalty. No monthly, annual or upfront fees. Free online redraw. Minimum 20% deposit. Qualifying criteria applies. Minimum loan amount is 200K. For new customers only. Mozo Experts Choice Home Lender Credit Union of the Year 2023.
- variable rate
- 6.14% p.a.
- comparison rate
- 6.14% p.a.
- variable rate
- 6.14% p.a.
- comparison rate
- 6.14% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $150.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $200,000
- maximum borrowing amount
- -
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- Up front fees waived from 1 May until 31 July 2024
Read our Mozo Review to learn more about the Police Credit Union The Better Home Loan Special Offer
Your selected home loans
Your selected home loans
Your selected home loans
Your selected home loans
Your selected home loans