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Bank of Queensland Home Loan Comparison
Posted May 21st, 2010
and last modified December 8th, 2011
Compare Bank of Quensland Home Loan with the best home loans available in Australia.
The Bank of Queensland can give a sunny outlook to a normally stressful and expensive time and help you get into a home loan which is easy to use and helps you with your individual housing goals. Whether you are an investor, a first home buyer or you just want to repay your home loan as soon as possible, let us shine some light onto the Bank of Queensland home loan products and features.
Compare Bank of Queensland Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Bank of Queensland Economy |
Economy Basic Loan | 7.28% | 7.43% | $595 / $10 | 95% | $10,000 / $5,000,000 |
 
|
Bank of Queensland First-Start Home Loan |
Tailored for First Home Buyers | 6.86% | 7.86% | $495 / $10 | 95% | $0 / $2,000,000 |
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Bank of Queensland Fixed Rate Home Loan |
A Secure Fixed Loan | 7.44 (3 years)% | 7.88% | $495 / $10 | 95% | $20,000 / $5,000,000 |
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Bank of Queensland Home Loan Privileges $150k to $200k |
Home Loan Privileges $150k to $200k | 7.61% | 7.91% | $0 / $375 | 95% | $150,000 / $200,000 |
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Bank of Queensland Home Loan Privileges $200k to $250k |
Home Loan Privileges $200k to $250k | 7.46% | $0 / $375 | 95% | $200,000 / $250,000 |
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Bank of Queensland Home Loan Privileges $250k + |
Home Loan Privileges $250k + | 6.81% | $0 / $375 | 95% | $250,000 / $5,000,000 |
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Bank of Queensland Home Loan Privileges Package $150k to $200k (fixed) |
Home Loan Privileges Package $150k to $200k (fixed) | 7.19 (2 Years)% | 7.83% | $0 / $375 | 95% | $150,000 / $5,000,000 |
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Bank of Queensland Home Loan Privileges Package $250k (fixed) |
Home Loan Privileges Package $250k (fixed) | 7.19 (2 years)% | $0 / $375 | 95% | $250,000 / $5,000,000 |
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Bank of Queensland Line of Credit |
Line of Credit | 7.96% | $495 / $10 | 90% | $25,000 / $200,000 |
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Bank of Queensland Line of Credit HLPP $150k to $200k |
Line of Credit HLPP $150k to $200k | 7.56% | $0 / $375 | 90% | $150,000 / $200,000 |
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Bank of Queensland Line of Credit HLPP $200k to $250k |
Line of Credit HLPP $200k to $250k | 7.66% | $0 / $375 | 90% | $200,000 / $250,000 |
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Bank of Queensland Line of Credit HLPP $250k + |
Line of Credit HLPP $250k + | 7.16% | $0 / $375 | 90% | $250,000 / $5,000,000 |
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Types of Home Loans Available from the Bank of Queensland
In the Australian home loan market there are a finite number of loan types, it is the providers, the features, the fees and of course the interest rates which sets each loan apart and to start your comparisons of the Bank of Queensland home loans, basic features include:
- Basic variable interest rate home loan. Typically the basic variable loan is the cheaper – and less inclusive – counterpart to the standard variable loan but from the Bank of Queensland you may just get everything you need on the basic level package as not only is the interest rate guaranteed to be lower than the bank’s standard variable rate, you can also make unlimited additional repayments, and access redraw facilities with just a $100 minimum withdrawal.
- Standard variable interest rate loan. Adding to the basic version of the loan, you’ll also get a 100% offset account, and the opportunity to apply for the loan as a low doc version.
- Fixed interest rate loan. There is no redraw available on the Bank of Queensland’s fixed rate loan but you can make additional repayments up to the value of $5,000 each year for free. You can apply for a fixed interest rate loan as a low doc customer and if you choose the 1 year fixed rate you can also add an offset account to your loan package for another $10 per month, on top of the $10 monthly fee of the loan. Or you can choose a fixed loan term of up to 5 years.
- Line of credit loan. This loan is perfect for investors but equally suited to owner occupiers, with a minimum loan amount of $25,000. You can make unlimited additional repayments to your principal loan amount, and included with your line of credit loan are ATM access, EFTPOS facilities and a cheque book.
Benefits of Bank of Queensland Home Loans
The Bank of Queensland also offers a 1% discount on the interest rate of their standard variable home loan to first home buyers so that you can ease into being a mortgage holder. Now is also a great time to benefit from a 12 month discounted interest rate because official rates are rising, but in a year’s time, they are likely to be more steady or even dropping again so you won’t be hit hard by reverting to the standard interest rate.
You can also add a Bank of Queensland Privileges Package to the standard variable loan, fixed rate loan or line of credit loan for an additional annual fee if you are borrowing more than $150,000. You’ll benefit from extra features such as:
- Additional repayment facility.
- The ability to redraw additional amounts.
- A 100% offset account.
- A Bank of Queensland transaction account with no monthly fee.
- A Bank of Queensland credit card with no annual fee.
- Discounted personal loan interest rates.
- Bonus interest on investments.
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The Bank of Queensland Home Loan Privileges $150k to $200k home loan offers you a discounted interest rate and many features with your loan. Read this article to find out more. - Bank of Queensland Fixed Loan
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If you would like an easy to manage home loan with great interest rates the Bank of Queensland Economy home loan is the one for you. Read this article to find out more.
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