A premium home loan with an interest rate discount for larger loan amounts
The Bank of Queensland (BOQ) Discount Variable Rate home loan offers an interest rate discount for loans above $1,000,000 but with all the flexibility you need. Includes features such as a 100% offset account, extra repayments and a redraw facility.
To get the great rate discounts of this loan you must qualify for the Home Loan Privileges Package which offers a range of benefits on fixed rate loans, bank accounts, credit cards and much more.
Product no longer on the market
This product is no longer available. Information on this page is not up to date and may not reflect accurate product information. You can find BOQ's current mortgage offers. here.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
What are the features and benefits of the BOQ Discount Variable Rate Home Loan?
Loan term. There is a minimum term of 2 with this loan.
Loan amounts. You can borrow a minimum of $1,000,000 and there is no maximum loan amount for this loan.
Loan to Value Ratio. You can borrow up to 80% of the property's value with this loan.
Mortgage offset account. A 100% offset account is available for personal customers only. This is not available for companies, SMSFs and trusts. This account acts as a linked transaction account, and any funds in it are used to offset the interest due on your home loan. An offset account with $50,000 in it on a home loan of $400,000 will see your interest calculated on $350,000 only.
Additional repayments. You can make unlimited extra repayments with this loan, which can help you to pay your loan off sooner and save on interest.
Redraw facility. You can withdraw extra repayments you've made using this redraw facility, meaning you can put any extra funds into your home loan without having to lock it away in the event a sudden expense crops up. It's free to make redraws, though a minimum redraw amount of $100 applies.
Repayment flexibility. You have a choice of principal and interest repayments, or interest-only, giving you the flexibility to match this loan to your property ownership strategy. You can also repay on a weekly, fortnightly or monthly basis to suit your salary cycle.
Split loan facility. You can choose to split portions of your loan with a fixed or variable interest rate. This gives you the advantages of fixed and variable rates.
Online banking. Have on-demand access to your home loan account with BOQ electronic banking.
How to apply
If you would like to apply or find out more information about this loan visit the Bank of Queensland website where you can start your online application online or request a callback from BOQ at a time that suits you.
What are the loan requirements?
You'll need to qualify for the Home Loan Privileges Package - this is available to both individual and joint borrowers, trusts and companies that have a housing loan. You will need to maintain an approved transaction account from BOQ though this is not required if you have an existing Line of Credit facility
You'll need to have a total combined loan amount of $1,000,000 or more
The maximum LVR available for this loan is 80%
Am I eligible?
You're at least 18 years old
You have never been bankrupt
You're a permanent Australian resident
You're earning a regular income
What documents do I need to provide?
Proof of your identity
Details about your employment
Information about your financial details, income, assets, expenses and liabilities
Information about any loan requirements you may need
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.