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RACQ Bank Mortgage Breaker (Choices Package)

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $249,999 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $499,999 with an LVR below 95%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $500,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest, interest only loan between $150,000 and $249,999 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest, interest only loan between $250,000 and $499,999 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest, interest only loan of at least $500,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $150,000 $249,999

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $250,000 $499,999

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $500,000

  • Investor (Principal & Interest, Interest Only)

    LVR < 90%

    Loan: $150,000 $249,999

  • Investor (Principal & Interest, Interest Only)

    LVR < 90%

    Loan: $250,000 $499,999

  • Investor (Principal & Interest, Interest Only)

    LVR < 90%

    Loan: $500,000

Rate
3.93% p.a.
Comparison Rate*
4.35% p.a.
Service fee
$395.00 yearly
Upfront fee
$275
Rate
3.53% p.a.
Comparison Rate*
3.96% p.a.
Service fee
$395.00 yearly
Upfront fee
$275
Rate
3.43% p.a.
Comparison Rate*
3.86% p.a.
Service fee
$395.00 yearly
Upfront fee
$275
Rate
4.39% p.a.
Comparison Rate*
4.80% p.a.
Service fee
$395.00 yearly
Upfront fee
$275
Rate
3.99% p.a.
Comparison Rate*
4.41% p.a.
Service fee
$395.00 yearly
Upfront fee
$275
Rate
3.89% p.a.
Comparison Rate*
4.31% p.a.
Service fee
$395.00 yearly
Upfront fee
$275

Details

Rates and fees information correct as at 24 October 2020. 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
  • 3.93% p.a.

  • n/a

  • n/a

  • n/a

  • 4.35% 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

  • $275.00

  • n/a

  • $395.00 yearly

  • $297.00

Other financial bits
  • $150,000

  • $249,999

  • none

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.

  • 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.

Details

Rates and fees information correct as at 24 October 2020. 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
  • 3.53% p.a.

  • n/a

  • n/a

  • n/a

  • 3.96% 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

  • $275.00

  • n/a

  • $395.00 yearly

  • $297.00

Other financial bits
  • $250,000

  • $499,999

  • none

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.

  • 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.

Details

Rates and fees information correct as at 24 October 2020. 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
  • 3.43% p.a.

  • n/a

  • n/a

  • n/a

  • 3.86% 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

  • $275.00

  • n/a

  • $395.00 yearly

  • $297.00

Other financial bits
  • $500,000

  • none

  • none

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.

  • 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.

Details

Rates and fees information correct as at 24 October 2020. 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
  • 4.39% p.a.

  • n/a

  • n/a

  • n/a

  • 4.80% 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

  • $275.00

  • n/a

  • $395.00 yearly

  • $297.00

Other financial bits
  • $150,000

  • $249,999

  • none

  • 90.00%

Features
  • Investor

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • no

  • none

  • yes

  • yes (for principal & interest loans only)

  • none

  • Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.

  • 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.

Details

Rates and fees information correct as at 24 October 2020. 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
  • 3.99% p.a.

  • n/a

  • n/a

  • n/a

  • 4.41% 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

  • $275.00

  • n/a

  • $395.00 yearly

  • $297.00

Other financial bits
  • $250,000

  • $499,999

  • none

  • 90.00%

Features
  • Investor

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • no

  • none

  • yes

  • yes (for principal & interest loans only)

  • none

  • Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.

  • 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.

Details

Rates and fees information correct as at 24 October 2020. 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
  • 3.89% p.a.

  • n/a

  • n/a

  • n/a

  • 4.31% 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

  • $275.00

  • n/a

  • $395.00 yearly

  • $297.00

Other financial bits
  • $500,000

  • none

  • none

  • 90.00%

Features
  • Investor

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • no

  • none

  • yes

  • yes (for principal & interest loans only)

  • none

  • Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.

  • 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.

Customer Reviews

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

Overall
7.0/10
Price
8.8/10
Features
8.0/10
Customer service
8.4/10
Convenience
7.0/10
Trust
7.2/10

Latest reviews of RACQ Bank Mortgage Breaker (Choices Package)

  • Overall 6/10
    Okay.

    Stuffed up rewards by not processing paperwork properly with loan approval.

    Read full review

    Stuffed up rewards by not processing paperwork properly with loan approval.

    Price
    8/10
    Features
    6/10
    Customer service
    6/10
    Convenience
    6/10
    Trust
    6/10
    Less
    Megan, Queensland reviewed 11 months ago
  • Overall 1/10
    Different to other banks... in a bad way!

    QTMB promised to be different to the other banks and I was surprised to how different they were! 1. They miscalculated interest on both of my home loans. They were charging interest almost 1% higher than their advertised rate. 2. They didn't give provide their advertised introductory rate to new loans unless you ask them repetitively and identify that they are overcharging customers. 3. Pre-approval for loans means nothing! I got pre-approval for three loans. So after establishing two loans to refinance and buying a block of land I assumed the pre-approved construction loan would be a given. Nope! New and exciting conditions rendered construction finance impossible. 4. They cannot be trusted. At least with other banks I could trust their calculations, advertisements and pre-approvals. I did find that their customer service was reasonable but I've had to mark them down due to the trustworthiness issue I have with them as a whole.

    Read full review

    QTMB promised to be different to the other banks and I was surprised to how different they were! 1. They miscalculated interest on both of my home loans. They were charging interest almost 1% higher than their advertised rate. 2. They didn't give provide their advertised introductory rate to new loans unless you ask them repetitively and identify that they are overcharging customers. 3. Pre-approval for loans means nothing! I got pre-approval for three loans. So after establishing two loans to refinance and buying a block of land I assumed the pre-approved construction loan would be a given. Nope! New and exciting conditions rendered construction finance impossible. 4. They cannot be trusted. At least with other banks I could trust their calculations, advertisements and pre-approvals. I did find that their customer service was reasonable but I've had to mark them down due to the trustworthiness issue I have with them as a whole.

    Price
    3/10
    Features
    2/10
    Customer service
    1/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Brad, Queensland reviewed almost 7 years ago
  • Overall 7/10
    Great customer service

    The staff are friendly and easy to deal with. Everything is no hassle. Great customer service.

    Read full review

    The staff are friendly and easy to deal with. Everything is no hassle. Great customer service.

    Price
    6/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    4/10
    Trust
    6/10
    Less
    Mozo community reviewer, Queensland reviewed about 7 years ago
  • Overall 10/10
    Great customer service, great value for teachers!

    I've had home loans with other banks, but have made the final transfer to QTMB. I've been a member with them for 20 years now, and the benefits I get for being a teacher and having my home loan there are amazing! Less fees and charges, savings on my home and car insurance. Plus the Home Loan manager and her staff at Loganholme are super friendly and helpful. They made the whole process very stress free!

    Read full review

    I've had home loans with other banks, but have made the final transfer to QTMB. I've been a member with them for 20 years now, and the benefits I get for being a teacher and having my home loan there are amazing! Less fees and charges, savings on my home and car insurance. Plus the Home Loan manager and her staff at Loganholme are super friendly and helpful. They made the whole process very stress free!

    Price
    8/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Mozo community reviewer, Queensland reviewed over 7 years ago

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Offset Home Loan (Package)

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UHomeLoan - Discount Offer

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2.32% p.a.

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2.76% p.a.

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Smart Home Loan

2.48% p.a. variable

2.50% p.a.

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HSBC

HSBC

Fixed Rate Home Loan

2.29% p.a.
fixed 3 years

2.95% p.a.

Promoted

Athena

Athena

AcceleRATES Variable Home Loan

2.34% p.a. variable

2.34% p.a.

Promoted

Macquarie

Macquarie

Offset Home Loan (Package)

2.54% p.a. variable

2.81% p.a.

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.49% p.a. variable

2.49% p.a.

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Homestar

Homestar

Star Essentials Home Loan

2.29% p.a. variable

2.32% p.a.

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Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

2.49% p.a.
fixed 3 years

3.28% p.a.

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Bank of Queensland

Bank of Queensland

Economy

2.59% p.a. variable

2.76% p.a.

Promoted

Macquarie

Macquarie

Offset Home Loan (Package)

2.54% p.a.

2.81% p.a.

Promoted

loans.com.au

loans.com.au

Smart Home Loan

2.48% p.a.

2.50% p.a.

Promoted

HSBC

HSBC

Home Value Loan

2.59% p.a.

2.60% p.a.

Promoted

Athena

Athena

AcceleRATES Variable Home Loan

2.34% p.a.

2.34% p.a.

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.29% p.a.

2.32% p.a.

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.49% p.a.

2.49% p.a.

Promoted

Suncorp

Suncorp

Back to Basics

2.68% p.a.

2.69% p.a.

Promoted

Bank of Queensland

Bank of Queensland

Economy

2.59% p.a.

2.76% p.a.

Promoted

loans.com.au

loans.com.au

Fixed Home Loan

n/a

n/a

Promoted

HSBC

HSBC

Fixed Rate Home Loan

2.29% p.a.
fixed 3 years

2.95% p.a.

Promoted

Homestar

Homestar

Star Classic Fixed Home Loan

2.06% p.a.
fixed 3 years

2.38% p.a.

Promoted

UBank

UBank

UHomeLoan (1 Year Fixed)

n/a

n/a

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Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

2.49% p.a.
fixed 3 years

3.28% p.a.

Promoted

Bank of Queensland

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Fixed Rate

2.25% p.a.
fixed 3 years

3.41% p.a.

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2.39% p.a.
fixed 3 years

3.08% p.a.

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AMP Bank

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Fixed Rate Loan (Professional Package)

2.49% p.a.
fixed 3 years

3.07% p.a.

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Smart Home Loan

2.48% p.a.

2.50% p.a.

$0.00

Promoted

Athena

Athena

AcceleRATES Variable Home Loan

2.34% p.a.

2.34% p.a.

$0.00

Promoted

Macquarie

Macquarie

Offset Home Loan (Package)

2.54% p.a.

2.81% p.a.

$248.00 yearly

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.49% p.a.

2.49% p.a.

$0.00

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.29% p.a.

2.32% p.a.

$0.00

Promoted

Suncorp

Suncorp

Back to Basics

2.68% p.a.

2.69% p.a.

$0.00

Promoted

Bank of Queensland

Bank of Queensland

Economy

2.59% p.a.

2.76% p.a.

$10.00 monthly

Promoted

IMB Bank

IMB Bank

Budget Home Loan

2.61% p.a.

2.67% p.a.

$0.00

*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.