based on 3478 Bank of Queensland product reviews as rated by Mozo community

Bank of Queensland home loans

Since 1874, Bank of Queensland (BOQ) has been one of Australia’s leading regional banks. With more than 160 branches across Australia, BOQ’s services are available to all Australians - not just those that live in the sunshine state. BOQ is completely independent of the big banks and has an extensive range of home loans including variable, fixed, package and line of credit options.

You'll also be pleased to know BOQ took out a Mozo Experts Choice Home Loan Award in 2021 in the Fixed Rate Home Loan category.

What home loans do Bank of Queensland offer?

Rates and fees verified as correct at 19 March 2024. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

BOQ’s fixed rate home loan allows you to choose from a range of fixed terms starting from 2 years up to a 5 year fixed period. You’ll be able to borrow up to 95% LVR with the principal and interest repayments. With BOQ’s fixed rate home loan, you’ll be able to make up to $5,000 p.a. in additional repayments, but you won’t have the luxury of a redraw facility. There is also a monthly account maintenance fee to consider. 

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

5.79% p.a.

6.19% p.a.

$10.00 monthly

$450

7.59% p.a.

6.71% p.a.

$10.00 monthly

$450

6.14% p.a.

6.29% p.a.

$10.00 monthly

$450

6.09% p.a.

6.41% p.a.

$10.00 monthly

$450

5.94% p.a.

6.37% p.a.

$10.00 monthly

$450

6.44% p.a.

6.51% p.a.

$10.00 monthly

$450

6.29% p.a.

6.47% p.a.

$10.00 monthly

$450

Variable Rate Home Loans

Bank of Queensland offers three variable rate home loans ranging from a no frills, basic home loan to a full featured home loan called Clear Path. Depending on which BOQ variable rate loan you pick, you could borrow up to 80%, 90% or 95% of your property's value. Because they all have a monthly account maintenance fee, it’s a good idea to take advantage of all the loan’s features such a split loan account, the ability to make unlimited additional repayments, and a redraw facility ($100 minimum). With the standard variable 2 year intro rate and Clear Path home loan options, you’ll get the extra benefit of a 100% mortgage offset facility which can help you to save on interest over the life of your loan.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

8.63% p.a.

8.74% p.a.

$10.00 monthly

$150

8.24% p.a.

8.35% p.a.

$10.00 monthly

$150

7.89% p.a.

7.19% p.a.

$10.00 monthly

$150

7.64% p.a.

7.07% p.a.

$10.00 monthly

$150

6.64% p.a.

6.76% p.a.

$10.00 monthly

$150

7.74% p.a.

7.86% p.a.

$10.00 monthly

$150

6.39% p.a.

6.51% p.a.

$10.00 monthly

$150

8.05% p.a.

7.93% p.a.

$10.00 monthly

$450

7.57% p.a.

7.71% p.a.

$10.00 monthly

$450

6.39% p.a.

6.53% p.a.

$10.00 monthly

$450

6.18% p.a.

6.33% p.a.

$10.00 monthly

$450

6.23% p.a.

6.38% p.a.

$10.00 monthly

$450

9.12% p.a.

9.23% p.a.

$10.00 monthly

$150

8.87% p.a.

8.98% p.a.

$10.00 monthly

$150

7.04% p.a.

6.91% p.a.

$10.00 monthly

$150

6.79% p.a.

6.80% p.a.

$10.00 monthly

$150

6.79% p.a.

6.91% p.a.

$10.00 monthly

$150

7.84% p.a.

7.96% p.a.

$10.00 monthly

$150

6.59% p.a.

6.71% p.a.

$10.00 monthly

$150

8.27% p.a.

8.22% p.a.

$10.00 monthly

$450

6.89% p.a.

7.59% p.a.

$10.00 monthly

$450

6.49% p.a.

7.41% p.a.

$10.00 monthly

$450

6.54% p.a.

7.43% p.a.

$10.00 monthly

$450

7.92% p.a.

8.06% p.a.

$10.00 monthly

$450

6.59% p.a.

6.73% p.a.

$10.00 monthly

$450

6.34% p.a.

6.48% p.a.

$10.00 monthly

$450

6.39% p.a.

6.53% p.a.

$10.00 monthly

$450

Bank of Queensland home loan features in a glance

Repayment Icon

Additional repayments

If you’re looking to pay off your home loan sooner, BOQ’s home loans gives you the flexibility to make extra repayments whenever you like and without penalty with the exception of the fixed loan which caps additional repayments at $5,000 p.a.

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No application fees

With a number of BOQ's home loans, you will not have to pay any loan application fees, although generally there will be an ongoing service fee to factor in. 

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Maximum 95% LVR

For owner-occupiers, many of BOQ’s variable and fixed rate loans allow you to borrow up to 90% or 95% of the property’s value which means you’ll only need to save a small deposit of 10% or 5%. Keep in mind though, all loans over an 80% LVR will require lenders mortgage insurance.

Offset icon

Offset facility

if you're opt for any BOQ variable home loan (excluding the Economy option), you'll have access to a 100% offset account which gives you the ability to reduce how much principal you're paying interest on, helping you save big on interest costs in the long run.

How are Bank of Queensland home loans rated?

Mozo users have rated Bank of Queensland home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Bank of Queensland home loans
Overall
Price
Features
Customer service
Convenience
Trust

544 Reviews

Recent Bank of Queensland home loan reviews

Bank of Queensland Fixed Rate
Overall 1/10
treated like trash

don’t trust this bank and there branch managers all they did to us was lie and treat us like second rate citizens. steer clear And try to go somewhere else.

Read full review

don’t trust this bank and there branch managers all they did to us was lie and treat us like second rate citizens. steer clear And try to go somewhere else.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Mark, Queensland, reviewed 4 months ago
Bank of Queensland Fixed Rate
Overall 10/10
Amazing staff

From the first phone call to settlement was a breeze. Great customer service, advice and options to suite my needs in refinancing my home loan. They staff are great and really listened to me and my circumstances. I’ve ended up better off than ever before. Definitely highly recommend and seeing myself as a long term customer.

Read full review

From the first phone call to settlement was a breeze. Great customer service, advice and options to suite my needs in refinancing my home loan. They staff are great and really listened to me and my circumstances. I’ve ended up better off than ever before. Definitely highly recommend and seeing myself as a long term customer.

Price
9/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Chelsea, Queensland, reviewed 11 months ago
Bank of Queensland Fixed Rate
Overall 9/10
Great Bank Excellent at listening to the client!

BOQ Moreyfield Qld was excellent in what they could offer in mortgage rates. They went out of their way to be of assistance. Nothing was too much of a problem and I couldn’t recommend them enough.

Read full review

BOQ Moreyfield Qld was excellent in what they could offer in mortgage rates. They went out of their way to be of assistance. Nothing was too much of a problem and I couldn’t recommend them enough.

Price
10/10
Features
8/10
Customer service
10/10
Convenience
5/10
Trust
9/10
Less
Catherine, Queensland, reviewed over 1 year ago
Bank of Queensland Fixed Rate
Overall 3/10
Ask lots of questions

Have asked a number of times for my loan to be reviewed and never had any further contact from the bank. Yes they helped me with my initial loan but have been no help since.

Read full review

Have asked a number of times for my loan to be reviewed and never had any further contact from the bank. Yes they helped me with my initial loan but have been no help since.

Price
4/10
Features
3/10
Customer service
3/10
Convenience
3/10
Trust
3/10
Less
Michelle, Queensland, reviewed about 2 years ago
Bank of Queensland Home Loan
Overall 10/10
Fantastic Bank. Always has the customer in mind.

I've been with Bank of Queensland for just on 30years now they are excellent they have helped through tough times always there for excellent customer service. And advice highly recommended. Keep up the good work and amazing customer service.

Read full review

I've been with Bank of Queensland for just on 30years now they are excellent they have helped through tough times always there for excellent customer service. And advice highly recommended. Keep up the good work and amazing customer service.

Price
10/10
Features
6/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jon, Queensland, reviewed over 2 years ago

What do you need to apply for a Bank of Queensland home loan?

You’ll need to supply BOQ with the standard paperwork that you’ll need for any home loan. This information includes: 

Purchasing?
If you’re purchasing a property, you’ll need a copy of the signed Contract of Sale and details of your solicitor/conveyancer.

Refinancing?
If you’re refinancing, you’ll need to provide the latest home loan statements and credit cards statements showing repayment history. 

Eligible for FHOG?

If you’re a first home buyer applying for the First Home Owners Grant, you’ll need identification and any supporting documentation.

Home loan quick links