Bank of Queensland Standard Variable
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
Variable home loans are the most popular home loan in Australia because they are flexible. The variable rate home loans usually have many features that allow you to tailor the loan to suit your needs. The Bank of Queensland Standard Variable home loan is no different. It offers a home loan with a low interest rate and a variety of features that can help you save money. The aim of this article is to show you the main features of the Bank of Queensland Standard Variable home loan so you can make an informed choice on deciding if this is the right home loan for you.
Features of the Bank of Queensland Standard Variable
The Bank of Queensland Standard Variable home loan offers all the features you expect from a flexible home loan. These features are:
- Borrowing conditions. You are able to pay off the loan over a 30 year period. There is no minimum borrowing amount for the loan however you are only able to borrow up to 95% of the home value. If you are unable to pay the 20% deposit for the home loan you will also have to pay for mortgage lenders insurance.
- Flexible payment options. The Bank of Queensland Standard Variable home loan allows you to pay off the loan the way you would like. You can may your repayments by weekly, fortnightly or monthly repayments, depending on your personal preferences.
- You can make additional repayments. The Bank of Queensland Standard Variable home loan allows you to make additional repayments at any time. These extra payments will help you pay off the loan faster and lower the amount of interest that is charged to your account, both of which ensure you pay off the loan with as little money as possible.
- Redraw facility. If you choose to make any additional repayments you can rest easier knowing that you can redraw the funds if you need them. You can redraw the funds at anytime using internet banking as long as you are redrawing over $100.
- There is a low doc option. The Bank of Queensland Standard Variable home loan also caters to the self employed. If you have trouble proving your income due to the nature of your work you can take advantage of the low doc option. The low doc option will allow you to apply for a home loan even though you can’t provide the usual financial documents.
- 100% mortgage offset facility. The Bank of Queensland Standard Variable loan allows you to link a savings account to the loan. When interest is calculated the funds in this account are included in the calculations and therefore lower the total amount of interest charged to the account. This will save you money by allowing you to pay less in interest over the term of your loan.
- Fees. The Bank of Queensland Standard Variable will require you to pay an application fee of $495 and a home loan fee of $10 a month. Also, if you use the mortgage offset account you will also have to pay a fee of $10 a month.
With all the features and flexibility that are available with variable rate loans it is not hard to see why they are so popular. The variable rate loans allow you to tailor a loan so it is suited to your needs while saving you money with all the additional features. The Bank of Queensland Standard Variable home loan is no different. With a low interest rate and features such as the redraw facility and mortgage offset you can be sure that you have the option to save money while paying off your home loan. If you have any further questions please don’t hesitate to contact us.
Read the official terms and conditions
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
Ask A Question About This Product