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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*

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3 Year Fixed - Choices

2.29% p.a. interest rate

3.93% p.a. comparison rate


Interest rates reflect 3 year fixed term with Choices Package. Principal and interest only. Comparison rate warning.

Standard Fixed Loan Rates

Standard Loan Interest Rate Comparison Rate
Standard Loan1 Year Interest Rate2.39% p.a. Comparison Rate4.21% p.a.
Standard Loan2 Year Interest Rate2.39% p.a. Comparison Rate4.04% p.a.
Standard Loan3 Year Interest Rate2.39% p.a. Comparison Rate3.89% p.a.
Standard Loan5 Year Interest Rate2.74% p.a. Comparison Rate3.75% 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 Rate2.29% p.a. Comparison Rate4.20% p.a.
Standard Loan2 Year Interest Rate2.29% p.a. Comparison Rate4.06% p.a.
Standard Loan3 Year Interest Rate2.29% p.a. Comparison Rate3.93% p.a.
Standard Loan5 Year Interest Rate2.64% p.a. Comparison Rate3.84% 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.

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 95% 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.

Loans are issued by Members Banking Group Limited ABN 83 087 651 054 AFSL and Australian credit licence 241195 trading as RACQ Bank. 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.

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.

Terms, conditions, fees, charges and normal lending criteria apply. Fixed rate offer available from 31 July 2020 until further notice and is 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. The comparison rate shown for the Fixed Rate Home Loan is under the Choices package for owner occupiers. The comparison rate may change for other amounts. Other interest rates and comparison rates apply for property investment home loans.

Insurance products are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. Please read the PDS 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.