Mortgage Breaker Home Loan Special (QLD only) (Principal and Interest)
- Last updated on 03 Jul 2020
based on $300,000 loan amount for 25 years
- No ongoing fees
- 100% full offset account
- Suitable for low deposits
- Parents can sign as guarantor
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$20k - $100m
Principal & interest
Loan term range
1 - 30 years
100% offset account
Unlimited extra repayments
Redraw fee: $0
Allows split interest
Total estimated upfront fees
Other upfront fee
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.