Welcome to affordable, flexible 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're here to help you get the keys to the next stage of your life. Our home loans come with an RACQ membership and are packed with benefits to give you more. When you’re ready to buy into a better life, choose RACQ Bank for a service you know and trust.
- No establishment, annual or monthly fees**
- Flexible repayment options
- Competitive home loan interest rates
- Zero monthly account keeping fees
- 5% deposit for eligible loans~
- Bonus 15% off your Home and Contents Insurance*
Fair Dinkum Home Loan≤60% LVR
Our lowest owner occupiedvariable rate
Interest rate and comparison rate
Comparison rate warning. T&Cs apply.
Compare our home loans and choose the one that best suits you
Fixed Rate Home Loan
1, 2, 3 and 5 year terms available
3 Year Fixed Rate ≤90% LVR
Principal and interest only.
Interest rate
Comparison rate
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No establishment fee**
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Security of fixed repayment amounts
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1, 2, 3, and 5 year terms available
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Up to 40-year loan term for first home buyers
Fair Dinkum Home Loan
Our lowest rate variable home loan
≤60% LVR
Interest rate
Comparison rate
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No establishment, annual or monthly fees
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No redraw or offset facilities
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Split loan option available
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Up to 40-year loan term for first home buyers
Mortgage Saver
Variable rate loan with redraw
Mortgage Saver Special
≤60% LVR
Interest rate
Comparison rate
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No establishment fee**
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No annual or monthly fees
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Split loan option available
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Up to 40-year loan term for first home buyers
Mortgage Breaker
Variable rate with redraw & offset
≤60% LVR
Interest rate
Comparison rate
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No establishment fee**
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100% offset account available (personal borrowers only)
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Split loan option available
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Up to 40-year loan term for first home buyers
Fixed Rate Investor Loan
Fixed rate loan
Interest rate
Comparison rate
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No establishment fee**
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Security of fixed repayment
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1, 2, 3, and 5 year terms available
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Split loan option available
Fair Dinkum Investor
Our lowest variable rate investor loan
≤60% LVR new lending only
Interest rate
Comparison rate
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Unlimited additional repayments
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No establishment, annual or monthly fees
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Split loan option available
Mortgage Breaker Investor
Variable rate loan with offset account
≤60% LVR new lending only
Interest rate
Comparison rate
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No establishment fee**
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Unlimited additional repayments
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100% offset account available (principal and interest only, personal borrowers only)
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Split loan option available
How to apply for your RACQ Bank Home Loan
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Fill in our simple online enquiry formGet the ball rolling in just a few minutes. Once we’ve received your form, we’ll reach out to book a meeting to chat about your needs.
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Gather your documentsCome prepared with the right documents, this will help streamline your application. Check out our home loan checklist to see what you’ll need to bring. If you’re a first home buyer, our home buyers guide will walk you through the buying process.
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Let us do the heavy liftingOnce we’ve got all the right information, we’ll carry out a comprehensive evaluation and assessment, plus any relevant credit checks. At this stage of the process, you can sit back and leave the running around to us.
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Get ready for good newsWe’ll be in touch as soon as we know the outcome of your application – whether congratulations are in order, or if we’d like a little more information from you.
RACQ Bank home loan offers
Ask about how we can help you save on your home loan today.
RACQ Bank Loyalty Offer^
RACQ Silver and Gold members are eligible to receive a 0.10% p.a. reduction on eligible home loans.^
Home bundle
Get a bonus 15% off your RACQ Home and Contents Insurance for the life of your home loan.*
Green Home Loan
Finance up to $50,000 in green loan improvements like solar panels by adding the Green Home Loan to your RACQ Bank Home Loan.
Why choose an RACQ Bank Home Loan?
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Together we’re rebuilding Queensland communitiesRACQ Foundation is supported by over 1.7 million members.
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Expect friendly, local customer serviceRACQ mobile lenders and call centres are Queensland-based.
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We believe in upfront, transparent pricingYou won’t get stung by hidden fees or charges.
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Access RACQ member benefits and discountsYour RACQ Bank home loan comes with RACQ membership.
Award-winning home loans
RACQ are the proud winner of the 2023 Mozo Experts Choice Award – Low Cost Home Loan
Your RACQ Bank Home Loan comes with RACQ membership~~
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.
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Have a home lender come to youBook a chat with a mobile lender at a time that’s convenient for you.
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Speak to a home lending specialist over the phoneCall us at 13 1905.
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Book a virtual appointmentChoose a time to talk with us online about buying your next property.
Home loan FAQs
Home buying guides
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.
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 (RACQ). Conditions, limits and exclusions 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 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.
Interest rates on a per annum basis and are current as at 1 October 2024 and subject to change at any time.
For fixed rate home loans, after fixed rate term, the interest rate reverts to the applicable variable rate. Refer to the Loan Rate Schedule for further information. The applicable LVR is the LVR at the time of the customer’s application for the fixed rate.
Fair Dinkum Owner Occupied Home Loan, Fair Dinkum Investment Home Loan, Mortgage Saver Special, Mortgage Breaker Special and Mortgage Breaker Investment Special is available for new lending only.
Members with an existing home loan can switch to an owner occupied or investment home loan with a minimum $20,000 in additional lending.
~~ 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.
**For a limited time, Establishment Fees and Mortgage Top Up Fees (as defined in the Loan fees schedule) payable on eligible Owner Occupied and Residential Investment lending products will be waived, subject to the following terms and conditions:
- The applicant/s must apply for a new home loan with RACQ Bank between 1 August 2024 and 3 December 2024. The home loan must have conditional approval by 5:00pm 3 December 2024 and funded no later than 3 March 2025.
- This offer is available on all current Home Loan and Home Loan Overdrafts (Owner Occupied and Residential Investment) products that have an Establishment Fee or Mortgage Top Up Fee. This offer does not apply to Fair Dinkum Home Loan products as these products are not subject to Establishment or Mortgage Top Up Fees.
- Tax consequences may arise from this promotion for investors and members should seek independent advice on any taxation matters.
- Fee waiver applies to Establishment Fees and Mortgage Top Up Fees only. Other fees, including Valuation Fees, will be payable where applicable. Refer to the Loan fees schedule available on the RACQ website for full details.
Terms, conditions, fees, charges, and normal lending criteria apply. Refer to racq.com/home/home-loans for additional information.
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* Home Bundle Terms and Conditions
- 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.
- The 15% discount on Home and Contents Insurance, Home Building Insurance or Contents Insurance available under the Home Bundle offer will only be applicable for insurance that is to cover the asset which is subject of the eligible home loan taken out under this offer only.
- 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.
- The Home Bundle promotional offer is valid for new RACQ Bank home loan customers only. Offer is available until further notice, subject to change without notice and may be withdrawn at any time. Acceptance of the offer is optional.
- Valid for Investment or 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.
- Please refer to the Things to note section for information on RACQ Bank Home Loans which are eligible for the Home Bundle promotional offer.
- The Home Bundle Offer is not available to directors, officers, management, employees and other staff (and the immediate families of directors, officers, management, employees and other staff).
- For refinanced home loans from other banks, Home and Contents Insurance policies will be created at or after loan is unconditionally approved.
- 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.
- 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 Bundle 15% discount offer is not available in conjunction with the online application discount for combined Home and Contents Insurance, Home Building Insurance or Contents Insurance.
- Insurance products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions 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 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.
- Refer to the Things to note section of this page for RACQ Bank Home Loan disclaimers including the comparison rate warning.
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^RACQ Bank Loyalty Offer Terms and Conditions
1. Members Banking Group trading as RACQ Bank (RACQ Bank) is the issuer of various financial products. RACQ Bank offers a range of offers on its loan products (RACQ Bank Loyalty Offer) which are subject to the below terms and conditions.
2. The RACQ Bank Loyalty Offer provides eligible RACQ Bank customers with a reduced interest rate on RACQ Bank advertised rates on eligible RACQ Bank loan products. These terms and conditions apply in addition to any terms and conditions that apply to the relevant RACQ Bank loan product.
Eligibility Criteria for the RACQ Bank Loyalty Offer
3. The RACQ Bank Loyalty Offer is available:
- on any RACQ Bank Investment Home Loans or Owner Occupier Home Loans (Eligible Home Loans). For the avoidance of doubt, this does not include the RACQ Bank Green Home Loan; and
- on any Secured or Unsecured Personal Loans (Eligible Personal Loans). For the avoidance of doubt, this does not include the RACQ Bank Green Car Loan, RACQ Bank Green Home Loan or RACQ Bank Green Personal Loan.
(Eligible Products)
4. The RACQ Bank Loyalty Offer is only available if a borrower on a loan contract for an Eligible Product is one of the following:
- An existing Gold or Silver RACQ Member;
- Employed by a Queensland school or higher education institution or by the Queensland Department of Education; or
- Employed by RACQ and have a RACQ employee identification number.
The offer is not available where the New lending or Refinance is being conducted in the name of a business or a company.
(Eligible Member)
5. New lending or refinance is any new lending application with RACQ Bank with a minimum of $20,000 in additional new lending for Eligible Home Loans or any new application with RACQ Bank for Eligible Car and Personal Loans (New Lending or Refinance)
6. Assessment of whether the above eligibility criteria is met will be based on information you disclose during the loan initiation process.
7. RACQ may also ask for further information or evidence, outside what is usually asked in the loan initiation process, to confirm eligibility to the RACQ Bank Loyalty Offer.
8. Eligibility is assessed at New Lending or Refinance. If we assess that a person is no longer eligible for the RACQ Bank Loyalty Offer, we will remove the offer from the date of that assessment and the interest rate on your loan product will revert to the applicable interest rate disclosed in RACQ Bank’s Loan Rate Schedule.
Operation of the RACQ Bank Loyalty Offer
9. The RACQ Bank Loyalty Offer is only available for New Lending or Refinance applications received from 06 December 2022
10. An Eligible Member will receive the following reductions from the applicable interest rate disclosed in the RACQ Bank Loan Rate Schedule:
- A 0.10% p.a. (10 basis point) reduction on any Eligible Home Loan Product;
- A 0.20% p.a. (20 basis point) reduction on any Eligible Personal Loan Product.
11. For the avoidance of doubt, only one RACQ Bank Loyalty Offer will be applied to each Eligible Product held by an Eligible Member. If more than one borrower on a loan contract is an Eligible Member, the RACQ Bank Loyalty Offer will only be applied once.
12. The offer of an interest rate reduction under this offer is subject to the eligibility criteria being met and is at the absolute discretion of RACQ Bank.
13. RACQ Bank is entitled to discontinue or change the RACQ Bank Loyalty Offer at any point, in its absolute discretion. For Eligible Members who are receiving the RACQ Bank Loyalty Offer at the time that RACQ Bank decides to withdraw or change the RACQ Bank Loyalty Offer under this clause, RACQ Bank will only do so in accordance with the terms of the loan agreement it has with the Eligible Member which permit variations to the interest rate.
14. RACQ Bank collect, process, use and disclose information about RACQ members in accordance with our Privacy Policy which can be viewed here.
15. These Terms and Conditions are governed by the laws of Queensland. You irrevocably submit to the non-exclusive jurisdiction of the courts of Queensland and the courts competent to hear and determine matters in Queensland.