Choose the version of this loan that suits you best
Availability | Loan type | LVR | Min loan amount | Max loan amount | |
---|---|---|---|---|---|
|
Owner Occupier | Principal & Interest | < 60% | $20,000 | |
|
Owner Occupier | Principal & Interest | < 70% | $20,000 | |
|
Owner Occupier | Principal & Interest | 70%-80% | $20,000 | |
|
Owner Occupier | Principal & Interest | 80%-95% | $20,000 | |
|
Investor | Principal & Interest, Interest Only | < 60% | $20,000 | |
|
Investor | Principal & Interest, Interest Only | 60%-70% | $20,000 | |
|
Investor | Principal & Interest, Interest Only | 70%-80% | $20,000 | |
|
Investor | Principal & Interest, Interest Only | 80%-90% | $20,000 |
The RACQ Bank Fixed rate home loan has a range of fixed rate terms to choose from so you can set and forget your repayments between 1 and 5 year terms. The loan is available to owner occupiers as well as property investors. Plus, if you're a Gold or Silver member - you might be able to get an extra 0.10% discount off your fixed interest rate! However, there is an establishment fee of $900 up-front, which includes both the settlement cost and a $165 discharge/exit fee, to be aware of.
For owner occupiers rates start at 5.64% (5.49% comparison rate*) for five years and go up to 6.44% (6.96% comparison rate*) for a one year fixed term. Investor rates are slightly higher at 5.94% (6.84% comparison rate*) for five years, and the one year goes up to 6.74% (7.35% comparison rate*). On top of this, if you're a Gold or Silver member, you might also be able to get an extra 0.10% knocked off your fixed interest rate! Just keep in mind that this offer can't be used in conjunction with any other offers.
There is a minimum loan amount of $20,000 for all loans and borrowers can have a loan to value ratio of up to 95% for owner occupier and 90% for investor loans.
There are no ongoing fees with this loan so your repayments will go directly to paying back your loan, but there is an upfront fee of $900 to consider.
Choose your repayment frequency to best suit you as RACQ Bank offers weekly, fortnightly and monthly options.
You can make extra repayments up to $10,000 per year but the loan doesn’t have a redraw option so if you do choose to make extra repayments you won’t be able to access this money again.
The fixed rate loan from RACQ is a competitive choice for Queenslanders that want the security of fixed repayments to help with budgeting.
As with most fixed rate home loans, be sure that you keep track of the end date of your fixed rate term closely. The revert rate of the loan starts at 6.84% for owner occupier and 7.34% for investor p.a. so shop around and compare home loans prior to this date to ensure that you remain on a competitive interest rate. The $900 establishment fee may be off-putting for some, but it does also include the settlement fee, as well as the early discharge/exit fee of $165.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.44% (6.87%*) |
|
6.04% (6.75%*) |
|
5.74% (6.66%*) |
|
n/a |
|
5.64% (6.38%*) |
|
n/a |
|
n/a |
|
6.84% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
none |
|
60.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.54% (6.88%*) |
|
6.14% (6.77%*) |
|
5.84% (6.69%*) |
|
n/a |
|
5.74% (6.42%*) |
|
n/a |
|
n/a |
|
6.84% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
none |
|
70.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.64% (6.89%*) |
|
6.24% (6.79%*) |
|
5.94% (6.72%*) |
|
n/a |
|
5.84% (6.47%*) |
|
n/a |
|
n/a |
|
6.84% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
70.00% |
|
80.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
7.24% (6.95%*) |
|
6.84% (6.91%*) |
|
6.54% (6.89%*) |
|
n/a |
|
6.44% (6.73%*) |
|
n/a |
|
n/a |
|
6.84% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
80.00% |
|
95.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.74% (7.35%*) |
|
6.34% (7.20%*) |
|
6.04% (7.03%*) |
|
n/a |
|
5.94% (6.79%*) |
|
n/a |
|
n/a |
|
7.34% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
none |
|
60.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.84% (7.36%*) |
|
6.44% (7.22%*) |
|
6.14% (7.06%*) |
|
n/a |
|
6.04% (6.83%*) |
|
n/a |
|
n/a |
|
7.34% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
60.00% |
|
70.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
6.94% (7.37%*) |
|
6.54% (7.25%*) |
|
6.24% (7.09%*) |
|
n/a |
|
6.14% (6.87%*) |
|
n/a |
|
n/a |
|
7.34% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
70.00% |
|
80.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
n/a |
|
n/a |
|
n/a |
|
n/a |
|
7.54% (7.43%*) |
|
7.14% (7.37%*) |
|
6.84% (7.26%*) |
|
n/a |
|
6.74% (7.14%*) |
|
n/a |
|
n/a |
|
7.34% p.a. |
$900.00 |
|
$0.00 |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$165.00 |
$20,000 |
|
none |
|
80.00% |
|
90.00% |
Weekly, Fortnightly, Monthly |
|
yes - up to $10,000 p.a. |
|
no |
|
no |
|
none |
|
yes |
|
no |
|
Extra repayments free up to $10,000 p.a during fixed rate period. Application fee includes valuation fee up to $300. |
|
Eligible members get 0.10% p.a. off any eligible home loan. Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan. 40 year loan terms available for First Home Buyers. |
|
none |
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.
I like the fact that there is a local branch nearby which I am able to access, allowing me to deal with people in person. Have also found their telephone banking service to be very good.
Read full reviewI like the fact that there is a local branch nearby which I am able to access, allowing me to deal with people in person. Have also found their telephone banking service to be very good.
Always courteous and helpful.
Read full reviewAlways courteous and helpful.
As a war refugee arrived in Australia, learned English, found the job but no bank offered me home loan. QT Mutual bank (at that time it was QTCU) did it and I own unit now. In 8 years I repaid more than third of the home loan. So I am happy and bank is happy as I can pay rates on time.
Read full reviewAs a war refugee arrived in Australia, learned English, found the job but no bank offered me home loan. QT Mutual bank (at that time it was QTCU) did it and I own unit now. In 8 years I repaid more than third of the home loan. So I am happy and bank is happy as I can pay rates on time.
Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Elevate
6.09% p.a. variable
6.20% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Basic Home Loan (Fixed)
6.09% p.a.
fixed 3 years
6.19% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
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.