The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 70%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 70%

The details shown below are for an owner occupier taking out a interest only loan up to with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan up to with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR 70%-80%

    Loan: $150,000

  • Investor (Principal & Interest)

    LVR < 70%

    Loan: $150,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan:

  • Investor (Principal & Interest)

    LVR 70%-80%

    Loan: $150,000

  • Investor (Interest Only)

    LVR < 80%

    Loan:

Rate
2.59% p.a.
Comparison Rate
2.76% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
2.64% p.a.
Comparison Rate
2.81% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
2.79% p.a.
Comparison Rate
2.96% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
3.80% p.a.
Comparison Rate
3.96% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
2.84% p.a.
Comparison Rate
3.01% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
2.99% p.a.
Comparison Rate
3.16% p.a.
Service fee
$10.00 monthly
Upfront fee
$450

Mozo editorial review Bank of Queensland Economy

Last updated: 25 February 2021.

3.5 / 5
binocular icon
What's hot
  • 2.59% (2.76% comparison rate*) - borrowing conditions apply
  • Free extra repayments and redraw facility
  • Available for owner occupiers or investors
What's not
  • Not available for refinancing if you’re an existing BOQ customer
Mozo snapshot

Want the lowest variable rate home loan on offer from BOQ? Look no further than the Economy Variable Home Loan. Interest rates start from 2.59% (2.76% comparison rate*) for owner occupier (P&I) loans and 2.79% (2.96% comparison rate*) for an investment loan (P&I). There is no minimum or maximum loan amount so it’s suitable for everyone from first home buyers to luxury property moguls but you will need to have a 30% deposit as the maximum LVR available with this loan is 70% if you want to snag the lowest rate. Or if your LVR is 80%, slightly higher rates from 2.64% (2.81% comparison rate*) are still available.

key icon
Key features

With the BOQ Economy Variable Home Loan, you’ve got a choice between making principal and interest repayments or interest only. The interest rates vary depending on your choice, as well as whether you’re getting the loan for your own home or buying an investment property.

For new customers that are owner occupiers with an LVR of up to 70% and a minimum borrowing amount of $150,000, BOQ offers a competitive 2.59% (2.76% comparison rate*). For owner occupiers have an LVR of up to 80%, rates start from 2.64% (2.81% comparison rate*) and for investors start from 2.84% (3.01% comparison rate*).  

There are some fees to consider with this loan such as the $10 monthly service fee and the upfront $300 application fee and $150 settlement fee.

In terms of flexibility, the loan allows you to choose your repayment frequency, whether that’s weekly, fortnightly or monthly. There isn’t an offset account attached to this loan but you do have the option to make free extra repayments so that you can pay off your loan sooner and pay less interest. There is also a free redraw option but it does have a minimum $100 redraw.  


snapshot
Who is it good for

To be eligible for the Economy Variable Home Loan you’ll need to be at least 18 years of age, earn a regular income and be an Australian citizen or permanent resident. So this loan could suit new borrowers that fit those criteria and have an LVR of up to 80% (or up to 70% to snag the best rate on offer).

question icon
Any catches

If you are an existing BOQ customer, you can’t refinance to this loan from another BOQ home loan, but you are eligible for a brand new loan.

Just be aware that if you are planning on building, this loan is not available as a construction loan. See other BOQ home loans that do offer this features or head to our main mortgage section to compare all home loans in our database.

Picture of Niko Iliakis
Niko Iliakis
Money writer

Niko Iliakis is a finance journalist at Mozo specialising in home loans, property and interest rate movements. With an eye for facts and figures, Niko deep-dives into topics to help readers understand key info and make more informed financial decisions. He is ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 15 May 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.59% p.a.

  • n/a

  • n/a

  • n/a

  • 2.76% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $10.00 monthly

  • $320.00

Other financial bits
  • $150,000

  • none

  • none

  • 70.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $100.00

  • yes

  • no

  • none

  • none

  • $3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 15 May 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.64% p.a.

  • n/a

  • n/a

  • n/a

  • 2.81% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $10.00 monthly

  • $350.00

Other financial bits
  • $150,000

  • none

  • 70.00%

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $100.00

  • yes

  • no

  • none

  • none

  • $3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 15 May 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.79% p.a.

  • n/a

  • n/a

  • n/a

  • 2.96% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $10.00 monthly

  • $350.00

Other financial bits
  • $150,000

  • none

  • none

  • 70.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $100.00

  • yes

  • no

  • none

  • none

  • $3,000 refinance cashback or $1,000 purchase cashback, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 15 May 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.80% p.a.

  • n/a

  • n/a

  • n/a

  • 3.96% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $10.00 monthly

  • $350.00

Other financial bits
  • none

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $100.00

  • yes

  • no

  • Maximum 5 year interest only periods.

  • none

  • $3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 15 May 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.84% p.a.

  • n/a

  • n/a

  • n/a

  • 3.01% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $10.00 monthly

  • $350.00

Other financial bits
  • $150,000

  • none

  • 70.00%

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $100.00

  • yes

  • no

  • none

  • none

  • $3,000 refinance cashback or $1,000 purchase cashback, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 15 May 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.99% p.a.

  • n/a

  • n/a

  • n/a

  • 3.16% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $10.00 monthly

  • $350.00

Other financial bits
  • none

  • none

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $100.00

  • yes

  • no

  • Maximum 5 year interest only periods.

  • none

  • $3,000 refinance cashback or $1,000 purchase cashback, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are Bank of Queensland home loans rated by the Mozo community?

Overall
7.5/10
Price
7.2/10
Features
6.8/10
Customer service
7.8/10
Convenience
7.7/10
Trust
7.6/10

Latest reviews of Bank of Queensland Economy

Thumbnail icon for Bank of Queensland

About Bank of Queensland

Bank of Queensland is Australia's fastest growing retail bank, and has come a long way from its origins as a regional Queensland bank. BOQ today boasts a wide array of banking services and 200 branches around Australia. Bank of Queensland aims to give you greater control over the management of your finances and offers everyday banking products including credit cards, home loans, term deposits, savings accounts and bank accounts.

See Bank of Queensland home loans

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loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a. variable

2.47% p.a.

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UBank

UHomeLoan (Fixed)

1.85% p.a.
fixed 3 years

2.24% p.a.

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Athena

AcceleRATES Variable Home Loan

1.99% p.a. variable

1.99% p.a.

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Macquarie

Basic Home Loan (Fixed)

2.09% p.a.
fixed 3 years

2.43% p.a.

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Yard

Variable Home Loan Special

2.09% p.a. variable

2.12% p.a.

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Bank of Queensland

Fixed Rate

1.94% p.a.
fixed 3 years

2.97% p.a.

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Well Home Loans

Well Balanced

2.17% p.a. variable

2.20% p.a.

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Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

1.98% p.a.
fixed 3 years

3.56% p.a.

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loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a. variable

2.47% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan (Fixed)

1.85% p.a.
fixed 3 years

2.24% p.a.

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Athena

AcceleRATES Variable Home Loan

1.99% p.a. variable

1.99% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

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ING

Fixed Rate Loan (with Orange Advantage)

2.04% p.a.
fixed 3 years

3.60% p.a.

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Suncorp

Fixed Home Loan (Home Package Plus)

1.99% p.a.
fixed 3 years

2.83% p.a.

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UBank

UHomeLoan - Discount Offer

2.34% p.a. variable

2.34% p.a.

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Athena

AcceleRATES Variable Home Loan

2.19% p.a. variable

2.08% p.a.

Thumbnail icon for loans.com.au

loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan - Discount Offer

2.34% p.a.

2.34% p.a.

Thumbnail icon for Athena

Athena

AcceleRATES Variable Home Loan

1.99% p.a.

1.99% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan

2.49% p.a.

2.49% p.a.

Thumbnail icon for ING

ING

Fixed Rate Loan (with Orange Advantage)

p.a.

3.60% p.a.

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86 400

Neat Home Loan

2.19% p.a.

2.20% p.a.

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HSBC

Home Value Loan

2.44% p.a.

2.45% p.a.

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Bluestone

Prime Home Loan

2.44% p.a.

2.49% p.a.

Thumbnail icon for loans.com.au

loans.com.au

Fixed Home Loan

1.99% p.a.
fixed 3 years

2.70% p.a.

Thumbnail icon for UBank

UBank

UHomeLoan (Fixed)

1.85% p.a.
fixed 3 years

2.24% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan (Fixed)

2.09% p.a.
fixed 3 years

2.43% p.a.

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fixed Rate

1.94% p.a.
fixed 3 years

2.97% p.a.

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Well Home Loans

Well Balanced Fixed

2.04% p.a.
fixed 3 years

2.17% p.a.

Thumbnail icon for ING

ING

Fixed Rate Loan (with Orange Advantage)

2.04% p.a.
fixed 3 years

3.60% p.a.

Thumbnail icon for Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

1.98% p.a.
fixed 3 years

3.56% p.a.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

Thumbnail icon for loans.com.au

loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

$0.00

Thumbnail icon for Athena

Athena

AcceleRATES Variable Home Loan

1.99% p.a.

1.99% p.a.

$0.00

Thumbnail icon for Yard

Yard

Variable Home Loan Special

2.09% p.a.

2.12% p.a.

$0.00

Thumbnail icon for Well Home Loans

Well Home Loans

Well Balanced

2.17% p.a.

2.20% p.a.

$0.00

Thumbnail icon for Bluestone

Bluestone

Prime Home Loan

2.44% p.a.

2.49% p.a.

Thumbnail icon for 86 400

86 400

Neat Home Loan

2.19% p.a.

2.20% p.a.

$0.00

Thumbnail icon for Athena

Athena

AcceleRATES Variable Home Loan

2.19% p.a.

2.08% p.a.

$0.00

Thumbnail icon for UBank

UBank

UHomeLoan - Discount Offer

2.34% p.a.

2.34% p.a.

$0.00

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.