Important disclosure

RACQ Bank

Fixed Rate Home Loan - Owner Occupied (QLD only)

Real Time Rating™

Owner Occupied
40% min deposit
P&I
Extra repayments
Interest Rate

5.54%

p.a

Fixed - 5 years

Comparison Rate*

6.34%

p.a

Real Time Rating™
Tags
Owner Occupied
40% min deposit
P&I
Extra repayments
Interest Rate

5.54%

p.a

Fixed - 5 years

Comparison Rate*

6.34%

p.a

Monthly Repayment

$3,082

based on $500,000 loan amount for 25 years at 5.54%

Calculate your repayments for this loan

$

Your estimated repayment

$3,082

based on $500,000 loan amount for 25 years at 5.54%

Pros and cons

For Fixed Rate Home Loan (QLD only) (Principal and Interest) 5 Years (LVR < 60%)

Benefits

  • Interest rates ranked in the best 20%
  • No ongoing fees
  • Parents can sign as guarantor
  • Split account option

Drawbacks

  • Limited extra repayments
  • No redraw and no offset
  • Loan reverts to higher rate after fixed period
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 60% of the property's value

RACQ Bank Fixed - 5 years Rate Home loan overview

For Fixed Rate Home Loan (QLD only) (Principal and Interest) 5 Years (LVR < 60%)

Details

Maximum LVR

60%

Total Repayments

Interest rate type

Fixed - 5 years

Borrowing range

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Repayment type

Principal and Interest

Applicable states

QLD

Repayment options

Fortnightly, Monthly, Weekly

Target Market Determination

Visit RACQ Bank to view Target Market Determination.

Features

Extra repayments

Yes - limited to $10000

Redraw facility

Split interest facility

Loan portability

Repayment holiday available

Allow guarantors

Available for first home buyers

Other benefits

Fees

Total estimated upfront fees

$900

Application fee

$900

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$0

Discharge fee

$165

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $20k to $99,999,999.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 60 percent, which means it requires a minimum deposit of 40 percent

What's the maximum length for this loan?

RACQ Bank allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

RACQ Bank allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $900 worth of upfront fees.

Does this loan come with a redraw facility?

No, this loan doesn't come with a redraw facility.

How do you apply for this loan?

To apply for this loan, please contact RACQ Bank.

Can a broker help me with this loan?

Yes, this RACQ Bank loan is available through a broker. Find a broker to help you with your needs.