Bank of Queensland Clear Path Variable Rate Home Loan

Rates and Fees verified correct on May 31st, 2016

Enjoy a home loan with all the bells and whistles, a competitive rate and no application fee


A home loan with a range of features such as an offset account can lead you to thousands of dollars worth of savings over the course of your loan and also gives you the opportunity to shorten your loan term. These types of features are generally offered on a loan with high application fees in addition to a monthly fee. The Bank of Queensland Clear Path Variable Rate Home Loan is a loan with an offset account, free redraw facility and much more but without an application fee.

It should be noted that Bank of Queensland also offer a range of other home loans, including fixed rate loans, line of credit facilities, bridging finance, low doc options and more.

Interest Rate Max Insured LVR Max LVR
Discount rate ($150k to less than $500k Owner Occupier)
4.04% p.a.
Comparison Rate
4.17% p.a.
95% 80%
Discount rate ($150k to less than $500k) (Investor)
4.34% p.a.
Comparison Rate
4.47% p.a.
95% 80%
Variable (Investor)
4.89% p.a.
Comparison Rate
5.02% p.a.
95% 80%
Variable (Owner Occupier)
4.47% p.a.
Comparison Rate
4.60% p.a.
95% 80%
Product NameBank of Queensland Clear Path Variable Rate Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Valuation Fee$0
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$150
Discharge Fee$150
  • No application fees
  • 100% offset account
  • Free redraws
  • Monthly fees of $10 per month
  • Settlement fee of $150

Things to consider about this loan

The Clear Path Variable Rate Home Loan is a full documentation loan available for new purchases or refinances (although refinances can't be made from existing BOQ home loans). Those buying a home and investors can take this loan out and it can be used to buy land or to construct a property on vacant land.

If you're a self-employed borrower, Bank of Queensland offers low doc loan options.

The Clear Path Variable Rate is also not available for business purposes, nor for those buying a property through their self-managed super funds.

Read on to learn more about how the Clear Path Variable Rate works.

Features of the Clear Path Variable Rate Home Loan

As mentioned above, the Clear Path Variable Rate Home Loan has a number of features which help you better manage your loan and make savings. These include:

    • Offset account. An offset account is an account linked to your home loan. Any money in the offset account cancels out the interest payable on your home loan for that same amount. For example, having a balance of $10,000 in your offset account on a home loan of $100,000 would see you pay interest on only $90,000.
    • Redraw facility. The Clear Path Variable Rate has a free redraw facility, so if you make additional repayments you can get access to them again if need be. There's a minimum of $100 per redraw with this loan.
    • Maximum LVR. You can borrow up to 95% of the value of a property, even if you're constructing a property. If you're buying vacant land you're only able to borrow up to 90% of the value of the land. There's also no minimum loan amount or term for this loan and there's a maximum loan term of 30 years.
    • Repayment options. You can pay off this loan in weekly, fortnightly or monthly instalments. You're also able to pay both the principal and interest with each repayment, or pay interest only, although you can only do this for five years.
    • Split rate options. You can split this loan into both a variable rate and fixed rate loan. This will come with a fixed loan application fee.
    • Accessibility. You can manage this loan over the phone or using internet banking.


Fees you can avoid

  • Application fee. Most home loans have an application fee which covers the cost of legally processing your loan and settling your funds. This loan doesn't charge one.
  • Valuation fee. There's one free valuation with this loan.
  • Redraw fee. Some loans charge a fee for redraws. This one doesn't, although there's a minimum redraw amount of $100.
  • Lender's Mortgage Insurance (LMI). This is a one-off payment charged if you borrow over 80% of the value of property.

Fees you can't avoid

  • Service fee. You'll be charged $10 monthly for this loan.

Calculate your repayments by filling in some of your details

Applying for the Clear Path Variable Rate Home Loan

If you would like to apply for this loan, please click 'go to site' to be safely redirected to the enquiry page. Please note that this loan is only available for new loans and excludes refinancing, or restructure of existing BOQ facilitates.


    • Personal identification. If you're a new customer, you'll need to provide photo identification, your birth certificate or Medicare card
    • Information about your income. You'll need to provide two of your most recent payslips and three consecutive months banks statements. Please note that a low doc version of this loan is not available.
    • Information about your savings. Including statements from the last three months.
    • Information about your expenses. Such as your credit card statements, rental payments, bills, etc.

Bank of Queensland Clear Path Variable Rate Home Loan Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 27 August 2015 at 14:34.

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12 Responses to Bank of Queensland Clear Path Variable Rate Home Loan

  1. Default Gravatar
    | June 19, 2015

    I am a casual and have been working in my current job for 2 and 3/4 months. Prior to this job I was between casual jobs for 2 days. Over the past 3 years I have only been a total of 2 weeks between casual jobs. Do you loan to someone in my job situation?

    • Staff
      Belinda | June 22, 2015

      Hi Steven,

      Thanks for your enquiry.

      Firstly, I’d like to point out that is an online comparison website and we don’t represent the Bank of Queensland (BOQ).

      Please note that the BOQ Clear Path Variable Rate home loan is a full documentation loan which means you’ll need to provide information about your income, which may include three consecutive bank statements from your employer, as well as information about your savings.

      On this page you can learn more about home loans for casual employees and contact a mortgage broker to discuss your options.

      Kind regards,

    • Default Gravatar
      Max | January 30, 2016

      Please advise the current clear path variable interest rate for residential property investment ($800k), it appears to be on special at 3.99%?, thanks marc

    • Staff
      Jodie | February 2, 2016


      Thank you for reaching out to a financial comparison website and general information service.

      The 3.99% special offer is for owner occupier loans the current available rate for investors with loan amounts above $500k is 4.28% (4.41% comparison rate), as per the details above.


  2. Default Gravatar
    Samir | March 16, 2015


    I am looking for a construction loan for owner builder. Does BOQ provide these loans?

    The land I am building on is already paid off and I have about 150K in savings. My house will roughly cost me just over the 400k range.


    • Staff
      Shirley | March 16, 2015

      Hi Samir,

      Thanks for your question.

      This loan can be used as an construction option. If you’d like to speak to a home loan specialist from BoQ about your eligibility or options, please click on ‘Go to Site’.


  3. Default Gravatar
    Piyush | February 3, 2015

    Hi I am looking to take a loan to buy a vacant land. I am looking for 90% LVR. Could you please tell me which bank options do I have & at what rate ??

    • Staff
      Marc | February 4, 2015

      Hi Piyush,
      thanks for the question.

      A large number of loans offer a maximum LVR of 90%. You can view these loans on this page and see what rates are being offered.

      I hope this helps,

  4. Default Gravatar
    aaron | November 25, 2014

    do you accept additional payment and is there an early exit option ?

    • Staff
      Shirley | November 26, 2014

      Hi Aaron,

      Thanks for your question.

      Additional repayments are available with this loan, there is an early exit option but there will be a fee involved for leaving the loan early. BoQ will be able to advise on what the fee is at the time.


  5. Default Gravatar
    Sun | September 17, 2014

    Please explain what is difference in between the two below?

    Maximum LVR

    Maximum Insured LVR



    • Staff
      Shirley | September 17, 2014

      Hi Sun,

      Thanks for your question and we apologise for the confusion.

      I’ve now updated the table to reflect the correct information.

      Maximum LVR 80%: this is the max LVR you can borrow without incurring Lender’s Mortgage Insurance (LMI).

      Maximum Insured LVR: this is the max LVR you can borrow with this loan. If it’s higher than 80%, then it’s likely that you’ll need to pay LMI.

      I hope this makes things clearer, please let us know if you have anymore questions.


Bank of Queensland Clear Path Variable Rate Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $10

  • Max LVR


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