QT Mutual Bank home loans

QT Mutual Bank
QT Mutual Bank's overall rating for home loans

(as rated by the Mozo community)

7.4 / 10

based on 12 reviews

As a customer-owned institution, QT Mutual Bank has your best interests at heart in its policies and products. Take out a home loan with this lender and you’ll own your own home in no time! And if you’re a first home buyer, you’ll be glad to hear that QT Mutual took out a Mozo Experts Choice Award in 2016, in the Best First Home Loan category.

Rates and fees verified as correct at 06 December, 2016. Other information correct at the time of writing.

What home loans do QT Mutual Bank offer?

Fixed Rate Home Loans Fixed Rate Home Loans

Opt for a fixed rate home loan from QT Mutual Bank if you’re a stickler for a monthly budget. Available for amounts starting at $20,000 and up to 95% of the property’s value, you’ll pay an upfront application fee for this loan. You’ll have the option to split your loan between fixed and variable rates for a little added flexibility, and choose between weekly, fortnightly or monthly repayments. You can also make fee free additional repayments on your mortgage, up to $10,000 during the fixed rate period.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.04% p.a.

5.02% p.a.

$0.00

$600

3.79% p.a.

4.77% p.a.

$0.00

$600


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Variable Rate Home Loans Variable Rate Home Loans

As with the fixed rate alternative, variable rate home loan offers from QT Mutual allow you to borrow up to 95% of the property’s value, starting from $20,000. Opt for the Mortgage Breaker deal and you’ll have a host of flexible features including free extra repayments, a free redraw facility, the chance to take a repayment holiday and the use of an offset account. Choose the Mortgage Saver option and you’ll miss out on the offset account and redraws will have a fee attached - but you won’t pay the application fee that comes with the Mortgage Breaker home loan.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡  

3.99% p.a. variable for 12 months and then 5.32%

5.24% p.a.

$0.00

$600

3.59% p.a. variable for 12 months and then 4.92%

4.84% p.a.

$0.00

$600

3.88% p.a.

3.88% p.a.

$0.00

$0

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Fixed Package Home Loan Fixed Package Home Loan

For a yearly service fee, you can borrow up to 95% of the property’s value, starting from $150,000, with a fixed rate home loan package from QT Mutual Bank.  You’ll be able to make $10,000 worth of free extra repayments during the fixed rate period, plus cash in on a bunch of package perks, including waived service fees on everyday banking accounts and a Platinum mastercard, and discounts on various insurance covers. If you’d like to split your loan between fixed and variable rates, opt for the Special offer to secure this feature.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.94% p.a.

5.04% p.a.

$395.00 yearly

$0

3.94% p.a.

4.76% p.a.

$395.00 yearly

$0

3.94% p.a.

4.68% p.a.

$395.00 yearly

$0

3.69% p.a.

4.40% p.a.

$395.00 yearly

$0

3.69% p.a.

4.69% p.a.

$395.00 yearly

$0

3.69% p.a.

4.33% p.a.

$395.00 yearly

$0


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Variable Package Home Loan Variable Package Home Loan

For package perks with a range of flexible features, you can’t go past the variable rate package home loan from QT Mutual Bank. With this mortgage package, you can borrow amounts starting at $150,000, up to 95% of the property’s value. You’ll have the ability to make unlimited fee free extra repayments and free redraws, plus the use of an offset account. In terms of perks, you’ll get discounts on a bunch of insurance covers, including home and contents and car insurance, plus the service fees will be waived on your platinum mastercard and QT Mutual everyday banking accounts.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.99% p.a. variable for 12 months and then 4.92%

5.21% p.a.

$395.00 yearly

$0

3.99% p.a. variable for 12 months and then 4.52%

4.86% p.a.

$395.00 yearly

$0

3.99% p.a. variable for 12 months and then 4.42%

4.77% p.a.

$395.00 yearly

$0

3.59% p.a. variable for 12 months and then 4.52%

4.82% p.a.

$395.00 yearly

$0

3.59% p.a. variable for 12 months and then 4.12%

4.47% p.a.

$395.00 yearly

$0

3.59% p.a. variable for 12 months and then 4.02%

4.38% p.a.

$395.00 yearly

$0


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QT Mutual Bank home loan features in a glance

Free extra repaymentsFree extra repayments

Pay your home loan off quicker by making fee free extra repayments. While you can make unlimited additional repayments on variable rate offers, remember that during fixed rate periods, these are capped at $10,000.

No ongoing feesNo ongoing fees

Opt for the standard fixed or variable rate home loan offers (not the package options) from QT Mutual and you won’t pay any ongoing service fees.

Flexible repayment scheduleFlexible repayment schedule

Make your repayments weekly, monthly or fortnightly - whatever suits your budget best!

How are QT Mutual Bank home loans rated?

Now that you’ve read about the fees and features, find out what the QT Mutual experience is all about. Read our customer review section, and see how QT Mutual Bank stack up on things like convenience, trust and customer service.

QT Mutual Bank home loans

Overall 7.4*

Price

Features

Customer service

Convenience

Trust

12 Reviews

* Overall rating based on reviews in the past 12 months.

Recent QT Mutual Bank home loan reviews Recent QT Mutual Bank home loan reviews

QT Mutual Bank

QT Mutual Bank Fixed Rate (Owner Occupier) (Choices Package) home loan review

Overall rating   10 / 10

Couldn't be happier

Fabulous bank to deal with.

Full review

Fabulous bank to deal with.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   6 / 10

    Trust   10 / 10

Less

Kym (QLD), reviewed over 1 year ago

QT Mutual Bank

QT Mutual Bank home loan review

Overall rating   9 / 10

Excellent customer service.

Good personalised service over decades.

Full review

Good personalised service over decades.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

Less

Chris (QLD), reviewed over 1 year ago

QT Mutual Bank

QT Mutual Bank home loan review

Overall rating   10 / 10

Awesome products

Fantastic product and very friendly and approachable service.

Full review

Fantastic product and very friendly and approachable service.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   6 / 10

    Trust   10 / 10

Less

Anna (QLD), reviewed over 1 year ago

QT Mutual Bank

QT Mutual Bank home loan review

Overall rating   8 / 10

Great service, personal touch

Great customer service with a homely touch. Staff get to know you and are always approachable. Not sure if I'm getting the best deal however, and would like know if better deals exist.

Full review

Great customer service with a homely touch. Staff get to know you and are always approachable. Not sure if I'm getting the best deal however, and would like know if better deals exist.

    Price   7 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   9 / 10

Less

Toni (QLD), reviewed over 2 years ago

QT Mutual Bank

QT Mutual Bank home loan review

Overall rating   7 / 10

Personal, caring customer service

When you're down and out, and your bank picks you up again and makes you smile, that is the biggest pro in the world! After moving on from my first home to the desert, my only con is my nearest branch is over 1000km away! Who cares...

Full review

When you're down and out, and your bank picks you up again and makes you smile, that is the biggest pro in the world! After moving on from my first home to the desert, my only con is my nearest branch is over 1000km away! Who cares though......their online banking rocks!

    Price   7 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Emma (QLD), reviewed over 2 years ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

What do you need to apply for a QT Mutual Bank home loan? What do you need to apply for a QT Mutual Bank home loan?

To take out a home loan with QT Mutual Bank, you’ll first need to become a member. To do so, you’ll have to have:

  • A Queensland address
  • An email address
  • An Australian mobile phone number
  • A current passport (or expired within the last 2 years)
  • And if you’re applying as a student, your Student ID

You’ll also need to buy a $10 member share, the cost of which can be debited to your QT Mutual Bank account.

When completing your home loan application, you’ll need:

  • Personal contact details
  • Employment and income details
  • A list of your assets, including savings, shares or property
  • A list of your debts, including statements from credit cards or personal loans
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