Bank of Queensland 2 Year Intro Rate Variable Home Loan

Get a discounted introductory rate with helpful features.

The Bank of Queensland 2 Year Intro Rate Variable Home Loan offers a discounted rate for two years as well as free redraw and a 100% offset account. The loan is available for owner occupiers, investors and for construction.

First home buyer cashback and application fee waiver

First home buyers can get a $1,000 cashback and avoid the application fee on eligible Bank of Queensland loans. You need a loan size of $150,000 or more borrowing up to 90% and you must settle before 30 September 2019. All applicants must be first home buyers.
Other conditions may apply.

Interest Rate Max Insured LVR Max LVR
(Investor, IO)
3.78% p.a.
Comparison Rate
4.20% p.a.
90% 80%
(Investor, P&I)
3.59% p.a.
Comparison Rate
4.16% p.a.
90% 80%
(Owner Occupier, IO)
3.78% p.a.
Comparison Rate
3.98% p.a.
90% 80%
(Owner Occupier, P&I)
3.39% p.a.
Comparison Rate
3.91% p.a.
90% 80%
Product NameBank of Queensland 2 Year Intro Rate Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Minimum Loan Term2 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Lender's Legal Fee$350
Valuation FeeOne Free Valuation
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$150
Discharge Fee$320
Early Termination Fee$300

Pros

  • Low, discounted interest rate.
  • 100% offset account.
  • Interest only option available.

Cons

  • There is a $10 monthly fee.
  • Rate reverts to a higher rate after two years.

What do I need to know about this loan?

The Bank of Queensland 2 Year Intro Rate Variable Home Loan is available to owner-occupiers and investors for the purchase or construction of a home. After the two-year introductory period, the loan reverts to the bank's Clear Path Variable Home Loan.

What are the features and benefits of the Bank of Queensland 2 Year Intro Rate Variable Home Loan?

  • Loan amount and purpose. The Bank of Queensland 2 Year Intro Rate Variable Home Loan has a minimum borrowing amount of $150,000 and a high maximum borrowing amount of . You can borrow up to 90% of the value of your property, but be aware that borrowing more than 80% will require you to pay lenders mortgage insurance (LMI).
  • Flexible repayments. The Bank of Queensland 2 Year Intro Rate Variable Home Loan offers the option of weekly, fortnightly or monthly repayments to suit your pay cycle. You can also make unlimited additional repayments without penalty.
  • Free redraw. If you need to access your extra repayments, you can use the loan's free redraw facility. There's a minimum redraw amount of $100, but no fee for redraws.
  • 100% offset account. You can save money on interest with the loan's linked 100% offset account.
  • Interest-only option. The Bank of Queensland 2 Year Intro Rate Variable Home Loan offers a two-year interest-only term, subject to approval.

What fees and charges come with this loan?

  • Legal fee: This fee covers the legal costs associated with establishing your home loan.
  • Settlement fee: This fee covers the funding costs associated with settlement day.
  • Discharge fee: A discharge fee is charged when you close your home loan account, either by refinancing or paying off your home loan entirely.
  • Early termination fee: This fee is charged if you terminate your loan before the end of the two-year introductory period.

How do I apply for this loan?

If you've compared your home loan options and think the Bank of Queensland 2 Year Intro Rate Variable Home Loan is right for you, click the green Go to site button. You'll be taken to the Bank of Queensland's website where you'll be walked through the application process.

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4 Responses

  1. Default Gravatar
    guyAugust 22, 2019

    Does BOQ charge mortgage insurance for less than 10% deposit?
    cheers
    Guy

    • Avatarfinder Customer Care
      NikkiAugust 23, 2019Staff

      Hi Guy,

      Thanks for your question. It’s helpful to know that you can borrow up to 90% of the value of your property, but be aware that borrowing more than 80% will require you to pay lenders mortgage insurance (LMI).

      Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    kiranjitDecember 7, 2018

    I want to know the lowest variable rate home loan up to 200K for refinancing.

    • Avatarfinder Customer Care
      JoshuaDecember 13, 2018Staff

      Hi Kiranjit,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Please go here. On that page, you will know how to find the best refinancing deals. There’s a table on that page that allows you to compare your options based on fees, monthly repayments, and interest rates, to name a few. To filter the table, click on the “Advance Search” and then click “Variable” under the “Loan Type.”

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

Bank of Queensland 2 Year Intro Rate Variable Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $10

  • Max LVR

    80%

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