Qudos Bank Low Cost Home Loan (Package)

3.89% p.a.

3.89% p.a.

$0.00

3.99% p.a.

4.00% p.a.

$0.00

4.54% p.a.

4.55% p.a.

$0.00

4.64% p.a.

4.65% p.a.

$0.00

Qudos Bank Low Cost Home Loan (Package) Review

Review published: 22 March 2018

What's hot:

  • 2018 Mozo Experts Choice winner

  • 3.89% variable interest rate (3.89% comparison rate)

  • 10% discount off Allianz Home and Contents Insurance

  • $0 application fee

What's not:

  • $275 discharge fee

Mozo snapshot:

One of Qudos Bank’s most popular loans, the Low Cost Home Loan Package also proved popular with the Mozo judges - taking out a 2018 Mozo Experts Choice Award for best Packaged Home Loan. The loan features low variable rates from 3.89% and has no application, legal or settlement fees. Along with a free offset account and an extra repayments facility, you’ll also be able to take a repayment holiday - talk about flexibility!

Key features:

If you’re after a loan that will give you a low variable rate and a few added perks, then look no further than Qudos Bank’s Low Cost Home Loan Package.For owner occupiers looking to borrow with a 20% deposit, there’s a 3.89% rate, while investors with the same deposit amount will have a rate of 4.54%.

Not only will taking out this packaged loan grant you a complimentary meeting with a Qudos financial planner, there’s also a 10% discount off an Allianz Home and Contents Insurance policy up for grabs.

There’s nothing but flexibility with this loan, as you can make your repayments according to your lifestyle - either on a weekly, fortnightly or monthly basis. But what’s a home loan without a few handy features? Some of the perks include the repayment holiday (that is, if you’ve made your repayments in advance), allowing you to take a break from your mortgage, along with free extra repayments and an offset account. And if you ever need to redraw some of those some of those extra repayments you’ve made, there’s no hassle, thanks to the free redraw facility.

However, we should mention that while there are no application or ongoing fees attached to this loan, there is a $275 discharge fee.

Who it's good for:

The Qudos Bank Low Cost Home Loan package could be a good choice for an owner occupier on a budget, looking to further save on other financial products by bundling them with one institution.

Any catches?

Once you’ve paid off your loan, be aware that there is a $275 discharge fee. There’s also a maximum LVR of 80%, so you will need to have a 20% deposit in order to apply.

How are Qudos Bank home loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
8.6

Based on 11
Qudos Bank home loans reviews

8.6 8.7 8.4 7.9 8.7

Read Qudos Bank home loan reviews by the Mozo community

Latest reviews of Qudos Bank Low Cost Home Loan (Package)

Qudos Bank

Qudos Bank Low Cost Home Loan (Owner Occupier, LVR<80%) (Package) home loan review

Overall rating   9 / 10

Excellent customer service and great rates!

Loyalty and trust. We stay loyal to each other and they are fair, trustworthy and reliable in return.

Full review

Loyalty and trust. We stay loyal to each other and they are fair, trustworthy and reliable in return.

    Price   8 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Sarah (NSW), reviewed about 5 years ago

Qudos Bank

Qudos Bank Low Cost Home Loan (Owner Occupier, LVR<80%) (Package) home loan review

Overall rating   10 / 10

Everything about this product is A+

After being with one of the "Big 4" for many years, I finally decided that I needed a change. I just couldn't take the arrogance of the existing bank anymore. Thought I'd take a punt, and hoped for the best but expected mediocre at best. How wrong...

Full review

After being with one of the "Big 4" for many years, I finally decided that I needed a change. I just couldn't take the arrogance of the existing bank anymore. Thought I'd take a punt, and hoped for the best but expected mediocre at best. How wrong I was. Excellent and efficient from Day 1. Easy to deal with over the phone and internet. Didn't even have to go to a branch. My only regret.....I didn't change over earlier! A breath of fresh air in these old lungs!!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Mal (ACT), reviewed over 5 years ago

Qudos Bank

Qudos Bank Low Cost Home Loan (Owner Occupier, LVR<80%) (Package) home loan review

Overall rating   9 / 10

Near Perfect. Low fees, all service(s) exemplary.

We refinanced to this product to keep all our banking needs with the one institution, who've been stellar in their service and commitment to our needs. Everything we wanted in a loan, we got with this. PROS * an existing account can...

Full review

We refinanced to this product to keep all our banking needs with the one institution, who've been stellar in their service and commitment to our needs. Everything we wanted in a loan, we got with this. PROS * an existing account can become your offset account, so your savings automatically contribute to reducing your interest (and the usual monthly/fortnightly debits towards paying off the mortgage, come out of the same account). * redraw any time you want (not that you likely need it, considering the above), via secure email from within the online banking site. * the interest rate was very competitive compared to our previous provider, and whilst there are cheaper options, none are from as trusted or strong an institution. * you can pay extra into the mortgage as well (beyond the extra 'safety net' of the always-available offset account) just as a further redundancy. * having over $10k saved with the institution results in them covering up to $100 of ATM service fees per month, more than enough for most people (and the use of St George or Westpac ATMs are free of service fee) * all of the above is fee free, as is the account in general. CONS The only negatives I can see with this product are more with the institution in general * only have 4 branches - Mascot, Hurstville, Sydney CBD, and Miranda - however our needs for in-person banking have been so few and far between that these have been more than sufficient. * membership conditions require you to be QANTAS staff, or family member of same.

    Price   8 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Kent (NSW), reviewed about 6 years ago

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.

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Rates

  • 3.89% p.a.

  • n/a

  • 0 Months

  • none

  • 3.89% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $275.00

Other financial bits

  • $150,000

  • none

  • none

  • 80.00%

Features

  • Owner Occupier

  • Principal & Interest, Interest Only

  • Monthly, Fortnightly, Weekly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • 10% off Allianz Home and Contents Insurance.

Rates

  • 3.99% p.a.

  • n/a

  • 0 Months

  • none

  • 4.00% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $275.00

Other financial bits

  • $150,000

  • none

  • 80.00%

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest, Interest Only

  • Monthly, Fortnightly, Weekly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • 10% off Allianz Home and Contents Insurance.

Rates

  • 4.54% p.a.

  • n/a

  • 0 Months

  • none

  • 4.55% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $275.00

Other financial bits

  • $150,000

  • none

  • none

  • 80.00%

Features

  • Investor

  • Principal & Interest, Interest Only

  • Monthly, Fortnightly, Weekly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • 10% off Allianz Home and Contents Insurance.

Rates

  • 4.64% p.a.

  • n/a

  • 0 Months

  • none

  • 4.65% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $275.00

Other financial bits

  • $150,000

  • none

  • 80.00%

  • 90.00%

Features

  • Investor

  • Principal & Interest, Interest Only

  • Monthly, Fortnightly, Weekly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • 10% off Allianz Home and Contents Insurance.

About Qudos Bank

Qudos Bank (previously Qantas Credit Union) is a customer owned bank and was established in 1959. Qudos Bank has an A2 investment grade rating and offers a full range of banking products including credit cards, home loans, personal loans and saving accounts.

*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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