Fixed Rate Investment Loan (QLD only) (Principal and Interest) 3 Years
- Last updated on 07 Aug 2020
Discounted Variable Rate (OO P&I)
Make the move to UBank's award winning home loan
2.49%
Variable
2.49%
Discounted Variable Rate (Owner Occupied Principal & Interest)
2.59%
Fixed - 3 years
4.27%
$1,199
based on $300,000 loan amount for 25 years
Pros
- No ongoing fees
- Parents can sign as guarantor
- Repayments will not change during fixed period
Cons
- Limited extra repayments
- No redraw and no offset
- Discharge fee at end of loan
- Repayments won't decrease if RBA cuts rates
Maximum LVR 90% | Interest rate structure Fixed - 3 years |
Borrowing range $20k - $100m | Total Repayments $431,640 |
Principal & interest | Interest only |
Loan term range 1 - 30 years | Offset account No |
Extra repayments Allowed with restrictions | Redraw facility |
Allows split interest | Suitable For Investors |
Applicable States QLD | |
Total estimated upfront fees $600 | Application fee $600 |
Settlement fee $0 | Valuation fee $0 |
Legal fee $0 | Other upfront fee $0 |
Ongoing fee $0 | Discharge fee $297 |
Property Type | SMSF Trustee |
Minimum SMSF Amount |
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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
Interested in an RACQ Bank home loan? RateCity has a suite of calculators that can show you what your repayments would be and how RACQ Bankcompares to its competitors. Simply plug in your borrowing amount below.
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FAQs
RateCity wants to prove that it pays to check your home loan rate, and provide some extra motivation for doing so. We want to encourage people to take an active interest in their home loans, and gain a thorough understanding of what they’re paying and how much they could save.
You can only check your rates once. However we will send you, via email, the link to the result page so that you may return to it.
The winner will be chosen randomly from our entries on 21 May 2020 by Loyalty.com.au, in the presence of an independent scrutineer.
No. You can invite as many people to enter the competition as you like. Just remember that you’ll only get one extra entry in the competition for each invited friend that checks their own rate.
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No. While we will do our best to show a list of loans that may suit your needs, if you choose to apply to refinance, it is up to the lender to approve or disapprove your loan based on your individual circumstances, after you have submitted all your paperwork.
This can sometimes take up to 30 days, so it is important to find out exactly what the criteria is for the loan, and what you need in terms of paperwork. RateCity does not make any suggestions taking into account your personal and individual needs.
If we can’t beat your current home loan rate, you can claim your $100 gift card by confirming your home loan details with us.*
To do this, on your results page you’ll need to securely upload a home loan document or statement from your lender that can be used to confirm the home loan details you provided. This should outline the following information:
- Loan term
- Loan type (fixed / variable)
- Payment type (principal and interest / interest only)
- Loan purpose (owner / investor)
- Property value
- Date of loan commencement
- Any special conditions
We’ll keep your information private and confidential and only use your document to confirm your entry.
Your repayments should appear on your bank statements or your internet banking. If you make weekly or fortnightly repayments, make sure you convert them to monthly calculations.
We use your current mortgage details to calculate the potential savings if you were to change lenders, and also to help us point you to loans that may meet your needs.
For example – if you live in the house you own, we’ll make sure we show you the owner-occupier rates, which are typically cheaper than investor rates. Or if you have less than 20% equity in your property, then we won’t show you the deals that require a greater amount of equity.
This competition is only available to Australian residents who are over 18 and check their home loan interest rate at RateCity. However, you are not required to refinance your home loan or apply for any financial products.
You can still enter if you don’t have a home loan yet – enter how much you plan to borrow and the details of the property you’re considering, and we’ll compare mortgage offers that may suit your needs and estimate how much you could save compared to a loan with an average interest rate.