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RACQ Bank's lowest Fixed Rate Home Loans ever

This is an owner occupied fixed rate interest loan:

  • Good for first home buyers
  • Security of fixed repayment amounts
  • 1, 2, 3 and 5 year terms available
  • Bonus 15% off Home and Contents Insurance with the Home Bundle*

Member

RACQ Gold and Silver members save even more with 0.10% p.a. off standard fixed rates^


Enquire now   Compare all loans
3 Year Fixed - Standard

1.99% p.a. interest rate

3.79% p.a. comparison rate


Principal and interest only. Comparison rate warning.

Standard Fixed Loan Rates

Standard Loan Interest Rate Comparison Rate
Standard Loan1 Year Interest Rate1.99% p.a. Comparison Rate4.17% p.a.
Standard Loan2 Year Interest Rate1.99% p.a. Comparison Rate3.97% p.a.
Standard Loan3 Year Interest Rate1.99% p.a. Comparison Rate3.79% p.a.
Standard Loan5 Year Interest Rate2.49% p.a. Comparison Rate3.65% p.a.

The Fixed Rate loan is available for 1, 2, 3 & 5 year terms. After the fixed term, the loan reverts to the current variable rate applicable.

Choices Package Fixed Loan Rates

Standard Loan Interest Rate Comparison Rate
Standard Loan1 Year Interest Rate1.89% p.a. Comparison Rate4.17% p.a.
Standard Loan2 Year Interest Rate1.89% p.a. Comparison Rate4.00% p.a.
Standard Loan3 Year Interest Rate1.89% p.a. Comparison Rate3.84% p.a.
Standard Loan5 Year Interest Rate2.39% p.a. Comparison Rate3.75% p.a.

Additionally, the Fixed Rate loan is available in our Choices Package, which offers a discounted interest rate and additional interest on a Term Deposit.

Loan Details

Fees, options and features included for owner occupied Fixed Rate Home Loan.

Learn more about home loan terminology in our home loan glossary.

Fees

  • Establishment fee: $600 / $0 with Choices Package
  • Annual fee: $0 / $395 with Choices Package
  • Monthly fee: $0
  • Loan settlement fee: $302.50
  • For a full list of fees and charges refer to the Loan Fee Schedule

Options

  • Offset account available: No
  • Redraw facility available: No
  • Additional payments: up to $10,000 per year
  • Split loan option: Yes

Features

  • Maximum Loan-to-Value Ratio (LVR): 80%
  • Maximum Loan-to-Value Ratio inclusive of Lender’s Mortgage Insurance (LMI): 90%
  • Fixed interest rate for 1, 2, 3 & 5 year terms. After the fixed term, loan reverts to current variable rate applicable.

Home Loan Calculators

Home loan repayment calculator
Borrowing power calculator
Buying and selling costs calculator

How the application process works

Get in touch with us

Start the process by completing the online enquiry form. From that point, we'll be in touch shortly to organise a meeting, so we can get a better understanding of your situation and needs.

Organise your info

To help you get organised and work out which documents you’ll need to bring along to your meeting, download our home loan checklist. This will make things a lot easier and help speed up the application process. If you are a first home buyer, you may also like to download our Home Buyers Guide for extra help and advice.

Let us take a look

Next, we’ll need to conduct a comprehensive property valuation and assessment, as well as the relevant credit checks. This all just helps keep the application process moving and makes sure all the boxes are ticked along the way.

Get ready to celebrate

Congratulations – we’ll be in touch soon to let you know when your loan has been formally approved, or if we need any more information from you.

Why choose RACQ Bank for your home loan?

Bonus 15% off Home and Contents Insurance*

We’ve packed trusted RACQ services into one home bundle and we’re passing the savings directly onto you.

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Access RACQ member benefits

Our benefits have been chosen to reward you and reflect your needs, passions and priorities.

Welcome to a bank with a difference

We put people before profit, which means we always put our members’ needs first. It’s what makes us different.

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More helping hands

The RACQ Foundation gives back to those who need it most.

Contact Us

RACQ Bank offers many convenient ways for you to begin the home loan enquiry process with us. Find out how we can help fund your new home.

Enquire now

Talk to us face-to-face at a branch

Visit us at one of our Queensland branch locations.

Speak to a home lending specialist over the phone

Call us at 13 1905 or complete our online enquiry form to receive a call back.

Have a mobile lender come to you

A mobile lender can come sit down face-to-face in your home, work or wherever else is convenient and make sure you get the loan to suit.

Home loan glossary

A Comparison Rate is an interest rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product, and also takes into account what the interest rate will be after any introductory periods are finished.
Lenders Mortgage Insurance (LMI) is a one-off insurance payment which banks generally require you to pay if you have a smaller deposit.
The Loan to Value Ratio (LVR) is the amount you are borrowing represented as a percentage of the value of the property being used as security for the loan. Our maximum LVR on home loans is 80%. However, with Lenders Mortgage Insurance (LMI), LVR for Owner Occupiers up to 90% can be considered, and LVR for Investors up to 90% can be considered.
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.
If you pay an extra amount into your loan you may redraw that money at a later time if you need.
The RACQ Choices Package offers a discounted interest rate on variable and fixed loans and additional interest on a Term Deposit.

More home loan FAQs

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.

Fixed rates are available under the Choices package. After fixed rate term, the interest rate reverts to the applicable variable rate.

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.

^ Additional 0.10% p.a. discount off standard fixed interest rates is available for Silver and Gold members only. Offer is available until further notice and cannot be used in conjunction with any other offers. Offer is not available on choices package fixed interest rates.

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.

  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.

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