Rates and fees verified as correct at 21 January, 2021. Other information correct at the time of writing. Advertiser disclosure.
QBANK offers two fixed rate home loans, both of which can be used to borrow amounts of $150,000 and above: the Fixed First Home Buyer and the Fixed Rate. The former (as the name suggests) is only available with a 3-year fixed rate to first home buyers who are going to be living in their home, whereas the latter is available to both owner occupiers and investors with different fixed rates on 1-5 year terms. You’ll have the ability to make fee-free extra repayments and redraws with either loan, as well as the choice between weekly, fortnightly or monthly repayments. There are also a couple of fees associated with both loans, which you'll be able to read more about in the linked reviews in the table below.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.19% p.a. | 3.38% p.a. | $0.00 | $195 | ||
| 2.29% p.a. | 3.47% p.a. | $0.00 | $195 | ||
| 1.97% p.a. | 3.39% p.a. | $0.00 | $195 | ||
| 2.64% p.a. | 3.86% p.a. | $0.00 | $895 | ||
| 2.64% p.a. | 3.86% p.a. | $0.00 | $895 | ||
| 2.29% p.a. | 3.77% p.a. | $0.00 | $895 |
There are a number of variable rate mortgage options with QBANK, available for amounts starting from $50,000, and for up to 95% of the property’s value. These include the Classic Home Loan, First Home Buyer Classic and Standard Variable Rate. Each loan comes with different requirements, attributes and fees, but some of the features on offer include free extra repayments, redraws and split loan options.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.84% p.a. | 3.87% p.a. | $0.00 | $195 | ||
| 2.59% p.a. | 2.62% p.a. | $0.00 | $195 | ||
| 2.79% p.a. | 2.82% p.a. | $0.00 | $195 | ||
| 3.21% p.a. | 3.24% p.a. | $0.00 | $195 | ||
| 3.41% p.a. | 3.44% p.a. | $0.00 | $195 | ||
| 3.21% p.a. | 3.24% p.a. | $0.00 | $195 | ||
| 4.34% p.a. | 4.36% p.a. | $0.00 | $195 | ||
| 4.19% p.a. | 4.26% p.a. | $0.00 | $895 | ||
| 4.19% p.a. | 4.26% p.a. | $0.00 | $895 | ||
| 3.81% p.a. | 3.88% p.a. | $0.00 | $895 | ||
| 2.93% p.a. | 3.00% p.a. | $0.00 | $895 | ||
| 3.14% p.a. | 3.21% p.a. | $0.00 | $895 | ||
| 4.69% p.a. | 4.76% p.a. | $0.00 | $895 | ||
| 4.69% p.a. | 4.76% p.a. | $0.00 | $895 |
Available on loans starting from $50,000 and for up to 95% on the property’s value, QBANK's variable package loan, the Classic Plus Home Loan (Package), offers a range of features and perks. Not only will borrowers be able to make unlimited free extra repayments, free redraws and make use a 100% offset account, they can also save on discounted insurance policies. The loan does come with a $25 monthly service fee though, but you can ready about that and more of the details in the reviews below.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.14% p.a. | 4.45% p.a. | $25.00 monthly | $0 | ||
| 3.51% p.a. | 3.83% p.a. | $25.00 monthly | $0 | ||
| 3.16% p.a. | 3.49% p.a. | $25.00 monthly | $0 | ||
| 4.49% p.a. | 4.79% p.a. | $25.00 monthly | $0 | ||
| 4.49% p.a. | 4.79% p.a. | $25.00 monthly | $0 | ||
| 3.51% p.a. | 3.83% p.a. | $25.00 monthly | $0 | ||
| 4.11% p.a. | 4.42% p.a. | $25.00 monthly | $0 | ||
| 3.51% p.a. | 3.83% p.a. | $25.00 monthly | $0 |
What's your next big spending goal? Kitchen renovations, a new car, an exotic getaway? Whatever it is, QBANK's line of credit home loan could help you fund it. You can get your hands on up to 80% of the value of your property, but just remember that you’ll pay a number of fees to do it.
| Product | Rate | Comparison Rate | Service fee | Upfront fee |
|---|---|---|---|---|
| 4.64% p.a. | n/a | $0.00 | $195 | |
| 4.64% p.a. | n/a | $0.00 | $895 |
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.
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
The majority of QBANK's home loans allow extra repayments to be made (for free), which can be a helpful feature for borrowers wanting to own their homes sooner! Just keep in mind that extra repayments are capped at $30,000 per year on the Fixed Rate loan.
No matter which QBANK home loan you opt for, you can match your repayments to your budget by choosing to make repayments on either a weekly, fortnightly or monthly schedule.
Borrowers with a lower deposit have plenty of choices available among QBANK's fixed or variable rate home loans, as there are often maximum loan-to-value ratio (LVR) tiers up to 95% (meaning you would only need a 5% deposit). Just bear in mind that loans with a higher LVR option may come with an interest rate premium compared to other options, and that borrowers seeking a loan with a deposit under 20% will often be required to pay lenders mortgage insurance.
Mozo users have rated QBANK home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
12 Reviews
Excellent interest rates and limited fees. The staff have always been so friendly and super helpful whenever I contact them. Easy to use app for online banking. So happy that I changed my banking over to QBank.
Read full reviewExcellent interest rates and limited fees. The staff have always been so friendly and super helpful whenever I contact them. Easy to use app for online banking. So happy that I changed my banking over to QBank.
I left one of the 5 big banks as they couldn't match the service and home loan rates of QPCU. Plus the staff treat you like a real person not just a number. The bank the staff ring me and ask if I need help or advice on my banking and they are so incredible. The help I got re my insurance policies was the best.
Read full reviewI left one of the 5 big banks as they couldn't match the service and home loan rates of QPCU. Plus the staff treat you like a real person not just a number. The bank the staff ring me and ask if I need help or advice on my banking and they are so incredible. The help I got re my insurance policies was the best.
They are very helpful and have competitive rates.
Read full reviewThey are very helpful and have competitive rates.
So easy to deal with even though it's all over the phone. Great rate, always cut when RBA cuts.
Read full reviewSo easy to deal with even though it's all over the phone. Great rate, always cut when RBA cuts.
I have been with the Qld Police Credit Union for 24 years and they have always been able to help me and my family with loans, credit cards and savings accounts. I would not use any other bank.
Read full reviewI have been with the Qld Police Credit Union for 24 years and they have always been able to help me and my family with loans, credit cards and savings accounts. I would not use any other bank.
The first step is becoming a member, which you can do if you are a Queensland resident, a current or former worker in one of the professions listed below, or a relative of a one of these workers. This is not a full list, so visit the QBANK website for all the eligible professions:
When it comes to applying for a home loan, you'll be able to begin an application online. But before you get started it may be worth making sure you have the following:
