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Qudos Bank Fixed Rate Loan

Features

The Fixed Rate Home Loan offered by Qudos Bank has no associated fees, including no upfront fees for establishing the loan. This mortgage gives you the option of locking in the rate for up to five years and paying off an extra $10,000 on your loan each year without being charged extra.

The good news is you can borrow up to 95 per cent of the property value with a five per cent deposit. However, this approach will require you to take out lenders mortgage insurance which can be quite costly.

Qudos Bank also offers customers $100 free monthly transactions at ATMs or with EFTPOS if you hold a savings account with Qudos and have a total loan and deposit balance of $50,000 or more.

Who is the Qudos Bank Fixed Rate Loan good for?

This loan is ideal if you want a simple fixed term mortgage. The same conditions apply whether you’re an investor, owner-occupier, first home buyer or refinancing. If you are an investor, you will be subject to slightly higher rates than the advertised owner-occupier rates.

Review - What RateCity says

The Fixed Rate Loan offered by Qudos Bank is pretty straightforward which is refreshing in an often convoluted and congested mortgage market. There are no hidden surprises or catches, it really is a case of what you see is what you get.

Do keep in mind that although there are no fees associated with the loan it is not the lowest interest rate available on the market so do your sums to work out the best way to save money over the term of the loan.

Qudos Bank Fixed Rate Loan Options

Find an option below that suits you with the Qudos Bank Fixed Rate Loan.

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Advertised rate
Comparison rate*
Monthly repayment
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Fixed Rates from

3.89%

Advertised rate

4.17%

Comparison rate
Pros
  • No bank fees.
  • Extra repayments allowed up to $10,000 a year.
  • Can borrow up to 95 per cent of property value.
Cons
  • Discharge fee payable at end of loan.
  • No offset account facility.
  • Investor interest rates will be higher than advertised owner-occupier rates.
Eligibility

Minimum loan amount $150,000.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $0
  • Discharge fees: $250
  • Ongoing fees: $0

The Fixed Rate Loan has no fees – either at the time of establishment or ongoing. Which is good news if you don’t want to pay a bank extra money on top of your loan amount. There is however, a discharge fee that is payable at the end of the mortgage.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Qudos Bank

Qudos Bank, formerly the Qantas Credit Union, has been around for 55 years providing credit cards, home loans, personal loans and saving accounts. With several branches located around Australia, and a Member Contact Centre open Monday to Saturday, Qudos Bank is available to assist customers online and in person.

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