BOQ Personal Loan

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Enjoy the flexibility of fee-free early repayments and higher borrowing limits with a Bank of Queensland Personal Loan.

Bank of Queensland allows you to choose either between an unsecured or mortgage-backed personal loan, with both having the option of a variable or fixed rate of interest.

10.99% (fixed)

Interest Rate (p.a.)

11.71%

Comparison Rate (p.a.)

$3,000

Min Loan Amount

Main points to consider about the Bank of Queensland Personal Loan

This is a standard personal loan which can be used for any worthwhile personal purpose. The loan does not have any particularly special features, but you can borrow larger amounts by securing the loan with your mortgage. An application fee, which is different for the secured and unsecured loans, and a monthly fee of $7.50 applies.

Features of the Bank of Queensland Personal Loan

  • Discounted fixed interest rate. You can also take advantage of a discounted interest rate of 10.99% p.a., a saving of 2% p.a.
  • Variable interest rate. The unsecured loan has a variable interest rate of 12.95% p.a.
  • Mortgage-secured interest rate. This loan comes with a variable rate of 9.54% p.a. and fixed rate of 10.99% p.a.
  • Monthly fees. Both loan options have a monthly maintenance fee of $7.50.
  • Unlimited additional repayments. You are able to make unlimited additional repayments on a variable interest rate loan.
  • No early payout fee. If you are making additional repayments, you will not have to pay a fee for paying off your loan before the original term.
  • Fixed rate interest. Have the security and comfort of knowing what your repayments will be by fixing your interest rate.
  • Loan term options. Loan terms are available from a minimum of 1 year to a maximum of 7 years.
  • Flexible repayment schedule. Repayments can be arranged to match your pay cycle at either weekly, fortnightly or monthly increments.
  • Phone and Internet banking. This provides a convenient way to check your statements and change repayment amounts.
  • Loan amounts. Borrow between $3,000 and $40,000 for unsecured loans and between $5,000 and $50,000 for mortgage-secured loans.

How to apply for a Bank of Queensland Personal Loan

If you decide that this loan is the right one for you, you must apply over the phone or in person at a branch.

Before you apply make sure you are eligible. You must:

  • Be 18 years of age or over
  • Never have been bankrupt
  • Be a permanent Australian resident
  • Earn a regular income

You will also need the following information to apply:

  • Proof of identity
  • Employment details
  • Personal financial details like proof of income and value of assets
  • Details of expenses, other loans and liabilities

The Bank of Queensland Personal Loan is a flexible product with the option to go unsecured or mortgage-secured. Make sure you compare personal loans from other lenders before deciding this product is right for you.

Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: The establishment fee will be waived if you apply before 30 September 2019.

Logo for ING Personal Loan
ING Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

Logo for RateSetter Unsecured Personal Loan - 3yr Variable
RateSetter Unsecured Personal Loan - 3yr Variable

You'll receive a variable rate between p.a. and 16.40 p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

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2 Comments

  1. Default Gravatar
    Marjorie
    May 18, 2017

    What are the requirements to apply for a personal loan of $50000.00 secured against the mortgage for home renovations?

    • AvatarStaff
      May
      May 18, 2017

      Hi Marjorie,

      Thank you for your inquiry.

      The eligibility criteria and requirements typically differ from one lender to another. But basically, they would need your income details, employment information, personal identification, asset and liability details, credit history, among others.

      If you wish to check or discuss your options and eligibility for a secured personal loan, you may contact a lender featured on this page.

      Cheers,
      May

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