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Bank of Queensland Economy

Advertiser disclosure

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
1.98% p.a.
Comparison Rate
2.15% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
2.03% p.a.
Comparison Rate
2.20% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
2.69% p.a.
Comparison Rate
2.86% 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
2.74% p.a.
Comparison Rate
2.91% p.a.
Service fee
$10.00 monthly
Upfront fee
$450
Rate
2.89% p.a.
Comparison Rate
3.52% p.a.
Service fee
$10.00 monthly
Upfront fee
$450

Mozo editorial review Bank of Queensland Economy - last updated: 30 August 2021

3.5 / 5
binocular icon
What's hot
  • Rates from 1.98% (2.15% 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 a competitive 1.98% (2.15% comparison rate*) for owner occupier (P&I) loans and 2.69% (2.86% 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 as well as have a debt to income ratio less than 6.

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%, have a debt to income ration less than 6 and a minimum borrowing amount of $150,000, BOQ offers a competitive 1.98% (2.15% comparison rate*). Meanwhile for owner occupiers have an LVR between 70% and 80% rates start at 2.03% (2.20% comparison rate*) and investor rates start from 2.69% (2.86% 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 20 September 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

1.98% p.a.

n/a

n/a

n/a

2.15% 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 - free

$100.00

yes

no

Special offer rate available for loans to borrowers with a Debt to Income ratio <6.

none

$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 October 2021, settle by 26 November 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 20 September 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

2.03% p.a.

n/a

n/a

n/a

2.20% 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 - free

$100.00

yes

no

Special offer rate available for loans to borrowers with a Debt to Income ratio <6.

none

$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 October 2021, settle by 26 November 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 20 September 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

2.69% p.a.

n/a

n/a

n/a

2.86% 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 - free

$100.00

yes

no

none

none

$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 October 2021, settle by 26 November 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 20 September 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 - free

$100.00

yes

no

Maximum 5 year interest only periods.

none

$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 October 2021, settle by 26 November 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 20 September 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

2.74% p.a.

n/a

n/a

n/a

2.91% 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 - free

$100.00

yes

no

none

none

$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 October 2021, settle by 26 November 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 20 September 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

2.89% p.a.

n/a

n/a

n/a

3.52% 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 - free

$100.00

yes

no

Maximum 5 year interest only periods.

none

$3,000 refinance cashback, min $250,000, 80% LVR or less. Apply before 31 October 2021, settle by 26 November 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.

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About Bank of Queensland

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.