Choices Fixed Investment Loan (QLD only) (Principal and Interest) 5 Years
- Last updated on 31 Mar 2020
Fixed - 5 years
based on $300,000 loan amount for 25 years
- No upfront fees
- Parents can sign as guarantor
- Repayments will not change during fixed period
- Limited extra repayments
- No redraw and no offset
- Annual fee charged
- Discharge fee at end of loan
Interest rate structure
Fixed - 5 years
$250k - $100m
Principal & interest
Loan term range
1 - 30 years
Allowed with restrictions
Allows split interest
Estimated upfront fees
Minimum SMSF Amount
No annual fee on platinum credit card, insurance discounts, bonus interest on term deposits
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RACQ was formed more than 100 years ago, in 1905, as a Queensland-based club for motorists. It was originally called the Automobile Club of Queensland and designed to advocate the rights of drivers. As it evolved, it began to offer a range of products to members including car loans and personal loans.
QT Mutual Bank was set up in the mid 1960s under the name the Queensland Teachers’ Credit Union with the aim of lending money to other teachers. In 2011, it changed its name QT Mutual Bank, after becoming Queensland’s first customer-owned bank.
On 18 April 2016, RACQ and QT Mutual Bank announced a proposal to join forces and form a powerful member-owned, community-focused mutual organisation. The merger of these two organisations into RACQ Bank came into effect as of 25 September 2017.
RACQ Bank Home Loan Calculator
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