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This is an owner occupied variable rate interest loan:

  • Good for first home buyers
  • No annual or monthly fees
  • Available for new lending only

Enquire now   Compare all loans
Canstar award Outstanding home lender Mortgage Saver Special

3.04% p.a interest rate

3.04% p.a comparison rate

New lending only. Principal and interest only. Comparison rate warning.

Loan Details

Fees, options and features included with our owner occupied Mortgage Saver Home Loan.

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


  • Establishment fee: $0
  • Annual fee: $0
  • Monthly fee: $0


  • Offset account available: No
  • Redraw facility available: Yes
  • Additional payments: Unlimited


  • Maximum Loan-to-Value Ratio (LVR): 80%
  • Maximum Loan-to-Value Ratio with Lender's Mortgage Insurance (LMI): 95%


Calculate your repayments, estimate how much you can borrow and learn about the costs of buying and selling a home with the help of our calculators.

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.
Step 2

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.
Step 3

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.
Step 4

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 trust RACQ Bank with your home loan?

Access RACQ Member Benefits

Access RACQ member benefits

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

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.
Welcome to a bank with a difference

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.
More helping hands

More helping hands

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

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, no annual fee on our Platinum Rewards Credit Card, and additional interest on a Term Deposit.

More home loan FAQs

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. 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. Other interest rates and comparison rates apply for property investment home loans.

Mortgage Saver Special 3.04%pa rate is effective from 8 October 2019. 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.

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 is provided by RACQ.

Variable interest rates current as at 8 October 2019 and subject to change at any time.