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Welcome to affordable, flexible home loans

At RACQ Bank we want you to reach your property goals sooner. Whether you’re a first home buyer, investor, refinancing or you’re looking for a change – we’ve got home loans to suit your lifestyle. With flexible repayment options, competitive interest rates, low fees and a bonus 15% off your Home and Contents Insurance*; our home loans are packed with benefits made to give you more. When you’re financing your next home choose RACQ Bank for a service you know and trust.

All RACQ Bank home loans feature zero monthly fees and an RACQ membership.

Owner Occupied Home Loans

Mortgage Saver

Variable rate loan with redraw
  • Good for first home buyers
  • No annual or monthly fees
  • Available for new lending only
  • Split loan option available
Mortgage Saver Special
2.75% p.a.
Interest rate
2.77% p.a.
Comparison rate

Mortgage Breaker

Variable rate with redraw & offset
  • 100% offset account available, principal & interest only
  • Good for refinancing and renovating
  • Available for new lending only
  • Split loan option available
Mortgage Breaker Special
2.95% p.a.
Interest rate
3.01% p.a.
Comparison rate

Fixed Rate

Fixed rate loan
  • Good for first home buyers
  • Security of fixed repayment amounts
  • 1, 2, 3 and 5 year terms available
  • Split loan option available
3 year fixed - Standard
1.99% p.a.
Interest rate
3.79% p.a.
Comparison rate

Get a bonus 15% off your Home and Contents Insurance for the life of your home loan.*

Investor Home Loans

Mortgage Breaker

Variable rate loan with offset
  • 100% offset account available, principal & interest only
  • Available for new lending only
  • Unlimited additional repayments
  • Split loan option available
Mortgage Breaker Special
3.09% p.a.
Interest rate
3.15% p.a.
Comparison rate

Fixed Rate

Fixed rate loan
  • Security of fixed repayment amounts
  • 1, 2, 3 and 5 year terms available
  • Additional repayments available, up to $10,000 p.a.
  • Split loan option available
3 year fixed - Standard
2.19% p.a.
Interest rate
4.17% p.a.
Comparison rate

Home Loan FAQs

Get an estimate of how much you can borrow with our borrowing power calculator. We’ll use your assets, liabilities and income and give you a clear idea on what you can afford to borrow and pay back. Find out what your repayments will be based on payment frequency, interest rate and your loan term.

Use our home loan repayment calculator to see your repayments based on the size and type of loan you choose. Know what you’ll pay over your term and have the confidence to buy your next home within budget.

RACQ Bank takes into account many different factors when pricing our home loans. The official cash rate set by the Reserve Bank of Australia, funding costs, risk associated with the product and broader factors in the economy all play a part in the pricing decisions being made. RACQ Bank always strives to provide value for its members.

For RACQ Bank’s complete list of lending rates, download our Loan Rate Schedule.

Members with a Mortgage Breaker or Fixed Rate Home Loan may pause their repayments. Note that a pause in repayments does not mean you will have a temporary forfeiture of repayment responsibility, rather your loan repayment is deferred and added to the next repayment date.

An offset feature lets you link your transaction account to your home loan. The funds in your transaction account are offset against your home loan balance and you are only charged interest on the net balance of the two accounts. What that means is the funds in your transaction account work to reduce the interest charged on your home loan.

For example, if your home loan balance is $400,000 and your linked Everyday Mortgage Offset Account balance is $50,000, the interest calculated on your home loan for that day will be on the net balance of $350,000. This will you help you save money and pay your home loan off sooner.

Our Offset Account combines all the benefits of our Everyday Account while providing the benefits of a 100% mortgage offset.

Check out which of our home loan options you can get an offset account with on our Compare Home Loans page.

For more information, give us a call on 13 1905 or drop into an RACQ Bank branch.

More home loan FAQs

 

Know you're covered when the unexpected happens with Life and Income Insurance

Learn more

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and normal lending criteria apply. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, before deciding.

Rates current as at 17 November 2020 and subject to change.

For fixed rate home loans, after fixed rate term, the interest rate reverts to the applicable variable rate.

Choices package available on eligible variable rate products only.

Mortgage Saver Special is available to new RACQ Bank home loan customers only. Existing RACQ Bank home loan customers can switch to Mortgage Saver Special with a minimum $20,000 in additional lending.

Mortgage Breaker Special/Mortgage Breaker Investor Special is available for new lending only. Customers with an existing home loan can switch to Mortgage Breaker Special/Mortgage Breaker Investor Special with a minimum $20,000 in additional new lending.

Comparison rate is based on a secured loan amount of $150,000 with monthly repayments over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Insurance products are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. Please read the PDS and any relevant SPDS before making a purchase decision on this product. Any general advice relating to this product at racq.com is provided by RACQ.

The Life and Income Protection Insurance suite of products described on this website is distributed by RACQ.

  1. Subject to the further terms and conditions below, the Home Bundle gives eligible RACQ Bank customers a 15% discount off combined Home and Contents Insurance, Home Building Insurance or Contents Insurance for the life of any eligible home loan.
  2. Subsequent to the initial policy being taken out, if the member makes any policy changes which require an additional premium, that premium will need to be paid by the member.
  3. The Home Bundle promotional offer is valid for new RACQ Bank home loan customers only. Home Loans must be approved by 5:00pm 30 June 2021 and funded within 90 days of approval. Offer is subject to change without notice and may be withdrawn at any time. Acceptance of the offer is optional.
  4. Valid for Owner Occupier, residentially secured home lending products only. Not available for businesses or companies. Lending terms, conditions, fees, charges and lending criteria apply. View our Loan rate schedule and fee schedule for a full list of RACQ Bank’s home loan rates, fees and charges.
  5. Please refer to the Important Information section for information on RACQ Bank Home Loans which are eligible for the Home Bundle promotional offer.
  6. The Home Bundle offer is not available to RACQ staff members.
  7. For refinanced home loans from other banks, Home and Contents Insurance policies will be created at or after loan is unconditionally approved.
  8. For property purchases, policies are to be created once purchase contract is signed or at loan submission, however Home Loan plus Home and Contents Insurance discounts are conditional on the home loan funding within 90 days of the date of the submitted application.
  9. Policyholders who already hold at least one insurance policy issued by RACQ Insurance Limited, may be eligible for a range of discounts, for the full breakdown of discounts please visit racq.com. After the deduction of any available discounts, a further discount of 15% will be deducted to calculate the final premium. The calculated premium may then have additional taxes and charges applied. The Home Plus 15% discount offer is not available in conjunction with the online application discount of $75 for Home and Contents Insurance.
  10. Insurance products issued by RACQ Insurance Limited ABN 50 009 704 152. Conditions, limits and exclusions apply. Read the PDS and any relevant SPDS before making a purchase decision. Contact us for a copy.
  11. Refer to Important Information section of this page for RACQ Bank Home Loan disclaimers including the comparison rate warning.