What is a split home loan?
You can create a home loan that suits you with a combination of variable and fixed rate home loans, known as a split loan. A split loan aims to utilise the best features of both types of loans - the certainty of the fixed rate combined with the flexibility of the variable rate. While a portion of your split home loan will be locked into a fixed rate, you will have flexibility to make additional repayments on the variable rate portion and can redraw funds if required.
- A great value home loan from RACQ Bank
- Certainty of a fixed rate combined with the flexibility of a variable rate
- Make additional repayments and redraw funds on the variable rate portion
How does a split loan work?
Home loans can be split any way you like. There are a couple of decisions you will need to make when splitting your home loan. These include deciding which fixed and variable product suits your needs, the portion of the loan you will fix vs. the portion of the loan you will keep variable, and the loan periods for each. You will then be able to determine your new monthly repayment amount. An RACQ Bank lender can help you identify which combination of fixed and variable rates are best suit your needs for your split home loan.
Explore our 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.
- Competitive interest rates
- Low fees
- Flexible repayment options
- Variable rate, fixed rate, and split loan options available
Contact us
Need help or would like to know more? RACQ Bank offers many convenient ways for you to get in touch with us.
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Talk to us face to face at an RACQ storeVisit us at one of our Queensland store locations. -
Have a home lender come to youBook a chat with a mobile lender at a time that’s convenient for you. -
Speak to a home lending specialist over the phoneCall us at 13 1905. -
Book a virtual appointmentChoose a time to talk with us online about buying your next property.
Other ways we can help
Things to note
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 lending policies apply. This is general advice only and may not be right for you. 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, and consider if appropriate for you 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.
RACQ Bank subscribes to the Customer Owned Banking Code of Practice which establishes higher standards than the law requires. The Code reflects modern consumer expectations and developments in approaches to issues such as consumer vulnerability, guarantors, and supporting customers through financial hardship. Please read our Customer Owned Banking Code of Practice page for more information.
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.
Insurance Products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQI) and arranged by its agent, RACQ Distribution Services Pty Ltd (RDS) ABN 35 116 361 650, AFSL 567130 and RDS' authorised representatives (including RACQ Operations Pty Ltd ABN 80 009 663 414, AR No. 234978 (RACQO). Conditions, limits and exclusions apply. RDS and RACQO are in the RACQ group of companies. One of the companies in the RACQ group of companies has a minority shareholding in RACQI.
RDS and RACQO have not taken your personal objectives, circumstances or needs into account when preparing advice regarding insurance products and you will need to consider whether the advice is appropriate for you. Read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website. RDS receives a commission from RACQI for the policies it arranges. RACQO receives fees paid for services it provides to RDS. Further details about remuneration are available on request prior to purchasing.