RACQ Bank home loan repayment calculator

Thinking about taking out a home loan with RACQ Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how RACQ Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated mortgage repayments

at interest rate 2.75%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Variety of home loan products.
  • Opportunity to bundle other financial products.
  • Caters for people with specific needs.
  • Community based bank run by members.
  • Some products include fees.
  • Limited branch access.

RACQ Bank home loans rates

Advertised Rate

2.75%

Variable

Total estimated upfront fees
$302
Comparison Rate*

2.77%

Ongoing fee
$0
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Advertised Rate

2.95%

Variable

Total estimated upfront fees
$902
Comparison Rate*

3.01%

Ongoing fee
$0
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Advertised Rate

3.09%

Variable

Total estimated upfront fees
$902
Comparison Rate*

3.15%

Ongoing fee
$0
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Advertised Rate

2.49%

Fixed - 5 years

Total estimated upfront fees
$902
Comparison Rate*

3.65%

Ongoing fee
$0
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Advertised Rate

2.39%

Fixed - 5 years

Total estimated upfront fees
$302
Comparison Rate*

3.75%

Ongoing fee
$395 annually
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Advertised Rate

1.99%

Fixed - 3 years

Total estimated upfront fees
$902
Comparison Rate*

3.79%

Ongoing fee
$0
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More details
Advertised Rate

1.89%

Fixed - 3 years

Total estimated upfront fees
$302
Comparison Rate*

3.84%

Ongoing fee
$395 annually
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More details
Advertised Rate

3.53%

Variable

Total estimated upfront fees
$302
Comparison Rate*

3.96%

Ongoing fee
$395 annually
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More details
Advertised Rate

1.99%

Fixed - 2 years

Total estimated upfront fees
$902
Comparison Rate*

3.97%

Ongoing fee
$0
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More details
Advertised Rate

1.89%

Fixed - 2 years

Total estimated upfront fees
$302
Comparison Rate*

4.00%

Ongoing fee
$395 annually
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More details
Advertised Rate

2.69%

Fixed - 5 years

Total estimated upfront fees
$902
Comparison Rate*

4.00%

Ongoing fee
$0
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More details
Advertised Rate

2.59%

Fixed - 5 years

Total estimated upfront fees
$302
Comparison Rate*

4.09%

Ongoing fee
$395 annually
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More details
Advertised Rate

1.89%

Fixed - 1 year

Total estimated upfront fees
$302
Comparison Rate*

4.17%

Ongoing fee
$395 annually
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More details
Advertised Rate

1.99%

Fixed - 1 year

Total estimated upfront fees
$902
Comparison Rate*

4.17%

Ongoing fee
$0
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More details
Advertised Rate

2.19%

Fixed - 3 years

Total estimated upfront fees
$902
Comparison Rate*

4.17%

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.09%

Fixed - 3 years

Total estimated upfront fees
$302
Comparison Rate*

4.21%

Ongoing fee
$395 annually
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More details
Advertised Rate

2.19%

Fixed - 2 years

Total estimated upfront fees
$902
Comparison Rate*

4.38%

Ongoing fee
$0
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More details
Advertised Rate

2.09%

Fixed - 2 years

Total estimated upfront fees
$302
Comparison Rate*

4.39%

Ongoing fee
$395 annually
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More details
Advertised Rate

4.33%

Variable

Total estimated upfront fees
$902
Comparison Rate*

4.39%

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.99%

Variable

Total estimated upfront fees
$302
Comparison Rate*

4.41%

Ongoing fee
$395 annually
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More details
Advertised Rate

3.99%

Variable

Total estimated upfront fees
$302
Comparison Rate*

4.41%

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

4.05%

Variable

Total estimated upfront fees
$302
Comparison Rate*

4.46%

Ongoing fee
$395 annually
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More details
Advertised Rate

2.09%

Fixed - 1 year

Total estimated upfront fees
$302
Comparison Rate*

4.59%

Ongoing fee
$395 annually
Go to site
More details
Advertised Rate

2.19%

Fixed - 1 year

Total estimated upfront fees
$902
Comparison Rate*

4.61%

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.79%

Variable

Total estimated upfront fees
$902
Comparison Rate*

4.85%

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.85%

Variable

Total estimated upfront fees
$902
Comparison Rate*

4.90%

Ongoing fee
$0
Go to site
More details
Advertised Rate

5.91%

Variable

Total estimated upfront fees
$302
Comparison Rate*

6.28%

Ongoing fee
$395 annually
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More details
Advertised Rate

6.71%

Variable

Total estimated upfront fees
$902
Comparison Rate*

6.76%

Ongoing fee
$0
Go to site
More details

RACQ Bank customer service

RACQ Bank has numerous services for customers to access their accounts and get support. RACQ Bank also has a presence on the ground in Queensland, with over 13 branches throughout the state. RACQ Bank also has a team of mobile lenders. They can visit you at home and talk to you about a loan set-up that suits your personal circumstances. Customers can access their accounts 24-hours-a-day via internet banking and telephone banking is also available. Both these services allow you to access things such as your recent transactions history and account balance, as well as to  find a bank branch or ATM. The bank can also be contacted by email.

  • Mobile app
  • Online banking
  • Branch
  • Mobile banking staff

How to Apply

Applications and home loan enquiries can be made online at the RACQ Bank website or by downloading and completing relevant documentation then sending them to RACQ Bank via post. Relevant information includes:

  • Personal identification material
  • Proof of income
  • Information regarding your living costs

Learn more about home loans

What are the NAB term deposit interest rates for businesses?

If you’re looking to lock in a return on your business savings, one option is a business term deposit with NAB. The big four bank provides competitive interest rates while giving you the flexibility to choose the term. NAB offers business term deposit interest rates for investments of between $5,000 to $499,999.

NAB doesn’t charge any monthly account or application fees. The interest is calculated daily and for the 90-day term and six months term, you will get paid when the deposit matures. For the 12 months term, you can either choose to get paid monthly, quarterly, half-yearly or annually. 

If you wish to withdraw your funds before the deposit matures, you need to give NAB 31 days notice. However, they do make exceptions if you’re experiencing hardship and need the funds immediately. Either way, you may have to bear the prepayment cost, which you can learn more about in the Terms and Conditions.

How can I get ANZ home loan pre-approval?

Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget. 

At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.

An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.

You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).

How can I apply for a first home buyers loan with Commonwealth Bank?

Getting a home loan requires planning and research. If you are considering a home loan with the Commonwealth Bank, you can find the information you need in the buying your first home section of the bank’s website.

You can see the steps you should take before applying for the loan and use the calculators to work out how much you can borrow, what your monthly repayments would be and the upfront costs you’d likely pay.

You can also book a time with a Commonwealth first home loan specialist by calling 13 2221.

CommBank publishes a property report that may help you understand the real estate market. The bank has also created a CommBank Property App that you can use to search for property.  The link to download this app is available on the same webpage.

If you are eligible for the First Home Loan Deposit Scheme, CommBank will help you process your application. The scheme helps first home buyers to purchase a home with a low deposit. You can read details about this scheme here and speak with a CommBank home lending specialist to understand your options.

How do you qualify for a CBA home loan with casual employment?

Qualifying for a home loan without a full-time job may be challenging, but it can be done. The first step is to understand how a CBA home loan is assessed when you have casual employment.

Most lenders will assess your expenses and savings while checking your loan eligibility, checking on factors crucial to home loan approval, such as if your bills are paid on time and what your credit score presently looks like. 

Your income can be one of the most critical factors to determine your final approved home loan amount. As such, you’ll need to provide payslip copies to lenders to assist them in assessing your income during the loan tenure, regardless of your employment status, full-time, part-time, or otherwise.

Casual employees will want to be casually employed for at least 12 months to be eligible for a home loan. Alternatively, you want to have worked as a permanent casual worker (working for a fixed number of hours per week) for at least one month, or you should have been in your current job for a minimum of three months (if the hours are irregular) to be eligible for the loan.

What is the average length of a home loan?

Most Aussie lenders offer home loans with a 30-year term, meaning that you should pay back the full loan amount and the interest you owe on the amount in 30 years. 

However, home loans can also have a shorter or longer term. They may be as low as ten years or up to 45 years, depending on the product and lender. 

It’s worth remembering that a longer loan term usually means you’ll end up paying a lot more interest in total, but your scheduled repayments may be more manageable. In contrast, you could opt for a shorter loan term if you are comfortable making large repayments in exchange for paying less interest over the term of the loan.

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 do I get a Suncorp home loan pre-approval?

Getting home loan pre-approval helps you work out a budget to help you search for a suitable property and make an offer with confidence. Once you put in an application, you should get your pre-approval outcome within two business days. To help get a fast turnaround time of your pre-approval application, ensure all the information and documentation that Suncorp requires. This includes proof of identification, recent payslips, bank account and credit card statements.

You can submit the home loan pre-approval application online. You’ll be asked for information about your income, expenses, assets, and debts. It should take you about 10 minutes to fill out the application, and you can do it free of charge. A Suncorp lending specialist will review your application and contact you within 24 hours or the next working day. Suncorp will not run a credit check until you have heard from this lending specialist.

Once you get Suncorp home loan pre-approval, it’s valid for 90 days. If you don’t find a property you wish to buy in this time you may be able to apply for an extension, speak to your Suncorp lending specialist about this.

Does Westpac offer loan maternity leave options?

Having a baby or planning for one can bring about a lot of changes in your life, including to the hip pocket. You may need to re-do the budget to make sure you can afford the upcoming expenses, especially if one partner is taking parental leave to look after the little one. 

Some families find it difficult to meet their home loan repayment obligations during this period. Flexible options, such as the Westpac home loan maternity leave offerings, have been put together to help reduce the pressure of repayments during parental leave.

Westpac offers a couple of choices, depending on your circumstances:

  • Parental Leave Mortgage Repayment Reduction: You could get your home loan repayments reduced for up to 12 months for home loans with a term longer than a year. 
  • Mortgage Repayment Pause: You can pause repayments while on maternity leave, provided you’ve made additional repayments earlier.

When applying for a home loan while pregnant, Westpac has said it will recognise paid maternity leave and back-to-work salaries. All you need is a letter from your employer verifying your return-to-work date and the nature of your employment. Your partner’s income, government entitlements, savings and investments will may help your application.

How long does Bankwest take to approve home loans?

Full approval for a home loan usually involves a property valuation, which, Bankwest suggests, can take “a week or two”. As a result, getting your home loan approved may take longer. However, you may get full approval within this time if you applied for and received conditional approval, sometimes called a pre-approval, from Bankwest before finalising the home you want to buy.  

Another way of speeding up approvals can be by completing, signing, and submitting your home loan application digitally. Essentially, you give the bank or your mortgage broker a copy of your home’s sale contract and then complete the rest of the steps online. Bankwest has claimed this cuts the approval time to less than four days, although this may only happen if your income and credit history can be verified easily, or if your home’s valuation doesn’t take time.

Can I apply for an ANZ non-resident home loan? 

You may be eligible to apply for an ANZ non-resident home loan only if you meet the following two conditions:

  1. You hold a Temporary Skill Shortage (TSS) visa or its predecessor, the Temporary Skilled Work (subclass 457) visa.
  2. Your job is included in the Australian government’s Medium and Long Term Strategic Skills List. 

However, non-resident home loan applications may need Foreign Investment Review Board (FIRB) approval in addition to meeting ANZ’s Mortgage Credit Requirements. Also, they may not be eligible for loans that require paying for Lender’s Mortgage Insurance (LMI). As a result, you may not be able to borrow more than 80 per cent of your home’s value. However, you can apply as a co-borrower with your spouse if they are a citizen of either Australia or New Zealand, or are a permanent resident.

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

How to apply for a pre-approval home loan from Bendigo Bank?

Applying for pre-approval on your home loan gives you confidence in your ability to secure finance while looking at potential new homes. You can get a free and personalised pre-approval home loan from Bendigo Bank in just a few minutes, without any credit checks or paperwork. 

Bendigo Bank offers pre-approval for home loans that allow you to understand the home loan size you may be able to get before looking for a new home. 

With the pre-approval, Bendigo Bank provides an estimate of your borrowing power. This figure incorporates stamp duty, lenders mortgage insurance (LMI) and any first home buyer incentives you may be eligible for. You may also qualify for the First Home Loan Deposit Scheme initiative, depending on your circumstances. 

To apply for a pre-approval on your home loan from Bendigo Bank, all you need to do is fill in a smart form. You could also contact the bank directly on 1300 236 344.

How do I find out my current interest rate and how much is owing on my loan?

Your bank statements and/or your internet banking should show these details. If you are not sure, call your bank or estimate.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

What are the benefits of getting a pre-approved home loan from Citibank?

While hunting for your dream home, getting a Citibank home loan pre-approval can have multiple benefits, which include:

  • You'll have an idea on your personal price range, which can save time to find your home.
  • With a pre-approved home loan, you may find yourself with more financial control to better decide how much you can spend.
  • A Citibank pre-approved home loan is a commitment  by a lender that signals you're ready to jump into the property market.

You can apply for pre-approval by providing basic details, such as name, email, and phone number on the bank’s website. Alternatively, you can contact the bank on 1300 361 922 or find a home lending officer on the website.