Bank of Queensland Economy
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
Many loans offer a variety of features that can help you save money. However, most people do not want to have to worry about using these features each month to get the best out of their home loan. The Bank of Queensland Economy is a basic home loan that allows you to not worry about all the additional features and just receive the best deal that is available.
Features of the Bank of Queensland Economy
The Bank of Queensland Economy home loan offers an easy home loan with great rates. Some of the features available with the Bank of Queensland Economy home loan are:
- Flexible payment options. TheBank of Queensland Economy allows you to be flexible with how you repay your loan. You can choose between weekly, fortnightly and monthly repayments.
- Borrowing conditions. For a maximum term of 30 years you are able to borrow up to 95% of your property’s value. However if you have to borrow over 95% you will have to pay mortgage insurance. You can borrow anywhere from $10,000 to $5,000,000 when using the Bank of Queensland Economy home loan.
- Many ways to access you account. TheBank of Queensland Economy home loan allows you to access your account in a variety of ways. Apart from traditional methods you can access the details of your account through internet and phone banking.
- Pay only the interest. You may need extra money during the term of your loan. The interest only option offered under the Bank of Queensland Economy home loan is a great way to free up money. Most loans require you to pay both the interest and the principal off the loan. However, for a period of 5 years the Bank of Queensland Economy home loan will allow you to pay only the interest portion of the repayments.
- Make additional repayments. When you come into extra money it is often very tempting to spend the money on other things. However, if you put the money on the loan you are able to pay off your loan quicker and reduce the total amount you pay on the loan by reducing the interest charged to the loan account. The Bank of Queensland Economy home loan allows you to make additional payments whenever you come into the extra money.
- Redraw facility. TheBank of Queensland Economy home loan redraw facility allows you to access the additional payments you have made at any time. This can be handy if some unexpected expenditures arise and you are short of money. The Bank of Queensland Economy redraw facility only requires that you redraw a minimum of $100 dollars.
- Fees. The Bank of Queensland Economy home loan charges the following fees:
- an application fee of $595;
- and a home loan fee of $10 a month.
Many home loans come with many additional features. Often, it is hard to find the best way to get the most out of your home loan when you have so many features to consider. The Bank of Queensland Economy home loan is a great home loan that allows you to get the best interest rates and payment options while not having to bother with all the additional features to save money. With the Bank of Queensland Economy home loan, you can be sure you are getting the best deal without the hassle. Please contact us to find out more about this home loan.
Read the official terms and conditions
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