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.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
5.89% p.a. |
6.39% p.a. |
$10.00 monthly |
$450 |
||
|
7.59% p.a. |
6.88% p.a. |
$10.00 monthly |
$450 |
||
|
6.24% p.a. |
6.49% p.a. |
$10.00 monthly |
$450 |
||
|
6.09% p.a. |
6.59% p.a. |
$10.00 monthly |
$450 |
||
|
5.94% p.a. |
6.55% p.a. |
$10.00 monthly |
$450 |
||
|
6.44% p.a. |
6.69% p.a. |
$10.00 monthly |
$450 |
||
|
6.29% p.a. |
6.65% p.a. |
$10.00 monthly |
$450 |
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.
| 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 |
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.
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.
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.
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.
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.
547 Reviews
Fantastic customer service. Branch and staff easy to contact, direct mobile phone numbers to some staff, excellent overall. Don’t feel like a number. Can ring branch direct and speak to a person.
Read full reviewFantastic customer service. Branch and staff easy to contact, direct mobile phone numbers to some staff, excellent overall. Don’t feel like a number. Can ring branch direct and speak to a person.
Easy access to branch. Personalized service. Can phone branch direct and speak to a real person straight away. Easy parking.
Read full reviewEasy access to branch. Personalized service. Can phone branch direct and speak to a real person straight away. Easy parking.
Get very personal service with Bank of Queensland. Always get a real person and very fast service. All staff are always very knowledgeable and professional and friendly.
Read full reviewGet very personal service with Bank of Queensland. Always get a real person and very fast service. All staff are always very knowledgeable and professional and friendly.
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 reviewdon’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.
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 reviewFrom 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.
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.