Queensland Country Bank

Ultimate Package Fixed Rate Home Loan Special (Principal & Interest) 2 Years

Advertised Rate

2.49%

Fixed - 2 years

Comparison Rate*

3.88%

Maximum LVR
Less than 80%
Real Time Rating™

1.78

/ 5
Monthly Repayment

$1,184

based on $300,000 loan amount for 25 years

Advertised Rate

2.49%

Fixed - 2 years

Comparison Rate*

3.88%

Maximum LVR
Less than 80%
Real Time Rating™

1.78

/ 5
Monthly Repayment

$1,184

based on $300,000 loan amount for 25 years

Calculate repayment for Queensland Country Bank product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,184

based on $300,000 loan amount for 25 years

Based on your details, Queensland Country Bank is available through brokers

MICHAEL KIANG

5.0
7 Reviews

Get expert advice from a home loan specialist.

MICHAEL is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 2 days

Our brokers call during business hours between 9.00am to 6.00pm.

Collins Mayaki

4.8
87 Reviews

Get expert advice from a home loan specialist.

Collins is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 31 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Azm Khan

5.0
43 Reviews

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Azm is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in an hour

Our brokers call during business hours between 9.00am to 6.00pm.

Pros and Cons

Pros and Cons

  • Interest rates ranked in the best 20%
  • 100% full offset account
  • Redraw facility available
  • Extra repayments and redraw facility
  • Limited extra repayments
  • Ongoing fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 79.9999% of the property's value

Queensland Country Bank Features and Fees

Queensland Country Bank Features and Fees

Details

Maximum LVR

Less than 80%

Total Repayments

Next LVR

Interest rate type

Fixed - 2 years

Borrowing range

Suitable for

Owner Occupiers

Loan term range

0 - 30 years

Principal & interest

Interest only

Applicable states

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Yes - limited to $10000 per year

Redraw facility

Redraw fee: $8

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$500

Application fee

$250

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$350 annually

Discharge fee

$450

Application method

Online

Phone

In branch

Pros and Cons

  • Interest rates ranked in the best 20%
  • 100% full offset account
  • Redraw facility available
  • Extra repayments and redraw facility
  • Limited extra repayments
  • Ongoing fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 79.9999% of the property's value

Queensland Country Bank Features and Fees

Details

Maximum LVR

Less than 80%

Total Repayments

Next LVR

Interest rate type

Fixed - 2 years

Borrowing range

Suitable for

Owner Occupiers

Loan term range

0 - 30 years

Principal & interest

Interest only

Applicable states

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Yes - limited to $10000 per year

Redraw facility

Redraw fee: $8

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$500

Application fee

$250

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$350 annually

Discharge fee

$450

Application method

Online

Phone

In branch

FAQs

What is a fixed home loan?

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

What is the difference between fixed, variable and split rates?

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

What is a building in course of erection loan?

Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

Mortgage Calculator, Loan Results

These are the loans that may be suitable, based on your pre-selected criteria. 

Mortgage Calculator, Repayment Type

Will you pay off the amount you borrowed + interest or just the interest for a period?

Mortgage Calculator, Property Value

An estimate of how much your desired property is worth. 

Monthly Repayment

Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow. 

What is the average annual percentage rate?

Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.

The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.

How can I get a home loan with no deposit?

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

What is a valuation and valuation fee?

A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.

Interest Rate

Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.

Why should you trust Real Time Ratings?

Real Time Ratings™ was conceived by a team of data experts who have been analysing trends and behaviour in the home loan market for more than a decade. It was designed purely to meet the evolving needs of home loan customers who wish to merge low cost with flexible features quickly. We believe it fills a glaring gap in the market by frequently re-rating loan products based on the changes lenders make daily.

Real Time Ratings™ is a new idea and will change over time to match the frequently-evolving demands of the market. Some things won’t change though – it will always rate all relevent products in our database and will not be influenced by advertising.

If you have any feedback about Real Time Ratings™, please get in touch.

Mortgage Balance

The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.

What is appreciation or depreciation of property?

The increase or decrease in the value of a property due to factors including inflation, demand and political stability.

Remaining loan term

The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

How much are repayments on a $250K mortgage?

The exact repayment amount for a $250,000 mortgage will be determined by several factors including your deposit size, interest rate and the type of loan. It is best to use a mortgage calculator to determine your actual repayment size.

For example, the monthly repayments on a $250,000 loan with a 5 per cent interest rate over 30 years will be $1342. For a loan of $300,000 on the same rate and loan term, the monthly repayments will be $1610 and for a $500,000 loan, the monthly repayments will be $2684.

How does a redraw facility work?

A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.