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RACQ Bank Fixed Rate

Advertiser disclosure
The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 60%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 95%
The details shown below are for an investor taking out a principal & interest, interest only loan of at least $20,000 with an LVR below 60%
The details shown below are for an investor taking out a principal & interest, interest only loan of at least $20,000 with an LVR below 70%
The details shown below are for an investor taking out a principal & interest, interest only loan of at least $20,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest, interest only loan of at least $20,000 with an LVR below 90%

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
  • Owner Occupier (Principal & Interest)
    LVR < 60%
    Loan: $20,000
  • Owner Occupier (Principal & Interest)
    LVR < 70%
    Loan: $20,000
  • Owner Occupier (Principal & Interest)
    LVR 70%-80%
    Loan: $20,000
  • Owner Occupier (Principal & Interest)
    LVR 80%-95%
    Loan: $20,000
  • Investor (Principal & Interest, Interest Only)
    LVR < 60%
    Loan: $20,000
  • Investor (Principal & Interest, Interest Only)
    LVR 60%-70%
    Loan: $20,000
  • Investor (Principal & Interest, Interest Only)
    LVR 70%-80%
    Loan: $20,000
  • Investor (Principal & Interest, Interest Only)
    LVR 80%-90%
    Loan: $20,000
Fixed 3 year rate
5.69% p.a.
Comparison Rate
6.44% p.a.
Service fee
$0.00
Upfront fee
$900
Fixed 3 year rate
5.79% p.a.
Comparison Rate
6.46% p.a.
Service fee
$0.00
Upfront fee
$900
Fixed 3 year rate
5.84% p.a.
Comparison Rate
6.48% p.a.
Service fee
$0.00
Upfront fee
$900
Fixed 3 year rate
6.24% p.a.
Comparison Rate
6.59% p.a.
Service fee
$0.00
Upfront fee
$900
Fixed 3 year rate
5.89% p.a.
Comparison Rate
6.70% p.a.
Service fee
$0.00
Upfront fee
$900
Fixed 3 year rate
5.99% p.a.
Comparison Rate
6.73% p.a.
Service fee
$0.00
Upfront fee
$900
Fixed 3 year rate
6.04% p.a.
Comparison Rate
6.75% p.a.
Service fee
$0.00
Upfront fee
$900
Fixed 3 year rate
6.44% p.a.
Comparison Rate
6.86% p.a.
Service fee
$0.00
Upfront fee
$900

Mozo editorial review RACQ Bank Fixed Rate - last updated: 1 May 2024

binocular icon
What's hot
  • No monthly account fees
  • Additional repayments up to $10,000 p.a.
  • Fixed interest rate discount for RACQ Gold and Silver members (conditions apply)
What's not
  • Only available to Queensland residents
  • $900 up-front establishment fee (includes settlement cost and $165 discharge fee)
Mozo snapshot

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. 

key icon
Key features

For owner occupiers rates start at 5.59% (6.25% comparison rate*) for five years and go up to 6.94% (6.74% comparison rate*) for a one year fixed term. Investor rates are slightly higher at 5.79% (6.50% comparison rate*) for five years, and the one year goes up to 7.14% (7.03% 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.


snapshot
Who is it good for

The fixed rate loan from RACQ is a competitive choice for Queenslanders that want the security of fixed repayments to help with budgeting.

question icon
Any catches

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 6.64% for owner occupier and 6.94% 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. 

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

6.39% (6.68%*)

5.99% (6.58%*)

5.69% (6.44%*)

n/a

5.59% (6.25%*)

n/a

n/a

6.64% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

none

60.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

6.49% (6.69%*)

6.09% (6.60%*)

5.79% (6.46%*)

n/a

5.69% (6.29%*)

n/a

n/a

6.64% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

none

70.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

6.54% (6.70%*)

6.14% (6.61%*)

5.84% (6.48%*)

n/a

5.74% (6.31%*)

n/a

n/a

6.64% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

70.00%

80.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

6.94% (6.74%*)

6.54% (6.69%*)

6.24% (6.59%*)

n/a

6.14% (6.49%*)

n/a

n/a

6.64% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

80.00%

95.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

6.59% (6.97%*)

6.19% (6.86%*)

5.89% (6.70%*)

n/a

5.79% (6.50%*)

n/a

n/a

6.94% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

none

60.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

6.69% (6.98%*)

6.29% (6.88%*)

5.99% (6.73%*)

n/a

5.89% (6.54%*)

n/a

n/a

6.94% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

60.00%

70.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

6.74% (6.99%*)

6.34% (6.89%*)

6.04% (6.75%*)

n/a

5.94% (6.57%*)

n/a

n/a

6.94% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

70.00%

80.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Details

Rates and fees information correct as at 15 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

n/a

n/a

n/a

n/a

7.14% (7.03%*)

6.74% (6.97%*)

6.44% (6.86%*)

n/a

6.34% (6.74%*)

n/a

n/a

6.94% p.a.

Fees

$900.00

$0.00

n/a

n/a

n/a

$0.00

$165.00

Other financial bits

$20,000

none

80.00%

90.00%

Features

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

^See information about the Mozo Expert Choice Home Loans Awards

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.

Customer Reviews

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

Overall
8.4/10
Price
8.8/10
Features
7.7/10
Customer service
8.8/10
Convenience
7.3/10
Trust
7.6/10
Based on 8 RACQ Bank home loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of RACQ Bank Fixed Rate Home Loan

About RACQ Bank

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Unloan

Variable

5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

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Greater Bank

Great Rate Home Loan

6.19% p.a. variable

6.21% p.a.

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Police Credit Union

Low Rate Home Loan

6.14% p.a. variable

6.20% p.a.

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HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

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South West Slopes Bank

Fixed Home Loan Rate

5.69% p.a.
fixed 3 years

6.34% p.a.

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Unloan

Variable

5.99% p.a. variable

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for Greater Bank
Greater Bank

Great Rate Home Loan

6.19% p.a. variable

6.21% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

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Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

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Police Credit Union

Low Rate Home Loan

6.14% p.a. variable

6.20% p.a.

Thumbnail icon for South West Slopes Bank
South West Slopes Bank

Fixed Home Loan Rate

5.69% p.a.
fixed 3 years

6.34% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for Greater Bank
Greater Bank

Great Rate Home Loan

6.19% p.a.

6.21% p.a.

Thumbnail icon for Police Credit Union
Police Credit Union

Low Rate Home Loan

6.14% p.a.

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan

6.01% p.a.

6.14% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for South West Slopes Bank
South West Slopes Bank

Fixed Home Loan Rate

5.69% p.a.
fixed 3 years

6.34% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan

6.09% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for ANZ
ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% 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.

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