Mortgage Breaker: Owner-occupied variable rate home loan 

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.

Interest rates on a per annum basis and are current as at 26 August 2025 and subject to change at any time.

Mortgage Breaker Special is available for new lending only. Customers with an existing home loan can switch to Mortgage Breaker 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.

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.

^~~ Terms and conditions apply to all offers. View the individual offer for full details. Offer is subject to availability and may be withdrawn at any time without notice.

^~5% deposit of the property value excluding LMI and all other government fees & charges.

^#The cost of the first valuation for a new security is covered by RACQ Bank. Any additional valuation required on an existing security will be payable by the member at cost.

**RACQ BANK Spring Campaign Cashback Offer – Terms & Conditions

For a limited time, eligible individuals will receive $2,000 (two thousand dollars) cashback when financing a home purchase with RACQ Bank (Cashback Offer), subject to the following terms and conditions:

1. The applicant(s) must:
   1. personally apply for a home loan with RACQ Bank between 18 August and 31 December 2025; 
   2. receive conditional approval for the home loan by 5:00pm 31 December 2025; and 
   3. complete settlement of the home purchase (i.e., draw down on funding) no later than 31 March 2026. 
2. This offer is only valid for the financing of a personal home purchase with RACQ Bank (i.e., purchase of an Owner Occupied or Investment property by individuals (not partnerships, companies, trusts, or other legal entities)).
3. Refinances are excluded from the Cashback Offer. 
4. This offer is valid for Owner Occupied Home Loans and Investment Home Loans only. It is not available on Construction Loans, Bridging Loans, Business / Commercial Loans or where the finance is being conducted in the name of a non-personal entity.
5. A minimum loan application amount of $500,000 is required for the financing of a home purchase with RACQ Bank to receive the Cashback Offer.
6. The Cashback Offer is limited to:
1. One per application regardless of the number of applicants; and
2. One per applicant per 12-month period, regardless of the number of applications made by the applicant and regardless of whether any of those applications were made alone or with other people.
7. The cashback payment will be paid into an open RACQ Bank account within 30 days of settlement. For joint applications, the cashback payment will be made to an account in the name of the primary applicant (for the avoidance of doubt, this may include a joint account).
8. Tax consequences may arise from this promotion for investors and members should seek independent advice on any taxation matters.
9. Terms, conditions, fees, charges, and normal lending criteria apply. Refer to racq.com/home/home-loans for additional information.