8.8 / 10

based on 84 reviews as rated by Mozo community

QBANK home loans

QBANK, formerly Queensland Police Credit Union (QPCU), is a member-owned credit union open to police officers, emergency service workers, correctional officers, ambos, firies, health workers, and government employees as well as their family members. As a home loan provider, QBANK is committed to making sure its members can own their homes as simply and quickly as possible.

QBANK offer a number of quality home loans, including the 2019 Mozo Experts Choice Award winning Fixed Rate Home Loan. 

What home loans do QBANK offer?

Rates and fees verified as correct at 21 January, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

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. 

Home loan repayments calculator

years

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

Variable Rate Home Loans

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. 

Home loan repayments calculator

years

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

Variable Package Home Loan

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. 

Home loan repayments calculator

years

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

Line of Credit

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.

QBANK home loan features in a glance

Repayment Icon

Extra repayments

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.

Repayment Icon

Flexible repayment schedule

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.

Image of coins

Options for lower deposits

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

How are QBANK home loans rated?

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.

Icon of home-loans
QBANK home loans
Overall
9.0/10
Price
Features
Customer service
Convenience
Trust

12 Reviews

Recent QBANK home loan reviews

QBANK Classic Home Loan review
Overall 10/10
So much better than the big four!

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 review

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.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
9/10
Less
Angela, Queensland, reviewed about 1 year ago
QBANK Classic Home Loan review
Overall 10/10
Competitive premiums, greatest customer service'

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 review

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.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Lorell, Queensland, reviewed over 5 years ago
QBANK Classic Home Loan review
Overall 10/10
Top bank

They are very helpful and have competitive rates.

Read full review

They are very helpful and have competitive rates.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Sean, Queensland, reviewed about 7 years ago
QBANK Classic Home Loan review
Overall 9/10
Great rates, great customer service

So easy to deal with even though it's all over the phone. Great rate, always cut when RBA cuts.

Read full review

So easy to deal with even though it's all over the phone. Great rate, always cut when RBA cuts.

Price
10/10
Features
9/10
Customer service
9/10
Convenience
9/10
Trust
9/10
Less
Mozo community reviewer, Queensland, reviewed over 7 years ago
QBANK Classic Plus Home Loan (Package) review
Overall 9/10
Trustworthy, reliable and looking after members

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 review

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.

Price
9/10
Features
9/10
Customer service
9/10
Convenience
9/10
Trust
9/10
Less
Tony, Queensland, reviewed over 8 years ago

What do you need to apply for a QBANK home loan?

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:

  • Local, State or Federal Government employee
  • Police Service employee (QLD or Federal)
  • Police Union employee
  • Police Credit Union employee
  • Fire and Emergency Services employee
  • Ambulance Service employee
  • Corrective Services employee
  • SES volunteer
  • Rural Fire Service volunteer

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:

  • Details and proof of your employment, including recent payslips
  • Your financial details, including debts, assets and expenses
  • Photo I.D (e.g. a drivers licence)
  • Employment and residential history
  • All the above for anyone else you're making the application with

Home loan quick links