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Bank of Queensland home loans

Bank of Queensland (BOQ) has home loans for owner-occupiers and investors. Compare rates from 6.19%.

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Bank of Queensland is one of Australia's larger banks. It owns several smaller lenders. BOQ offers a large range of fixed and variable rate loans. Check out the full table of Bank of Queensland products below or read more about the lender and its loans.

Compare Bank of Queensland home loans for July 2024

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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
BOQ logo
Principal & Interest 3Y Fixed10% min. depositOwner-occupier
BOQ logo
Principal & Interest 3Y Fixed10% min. depositOwner-occupier
Product NameBank of Queensland Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.46%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.46%
Fees
Application: $0
Ongoing: $10 per month
Monthly Payment
$919
BOQ logo
Principal & Interest20% min. depositOwner-occupier
BOQ logo
Principal & Interest20% min. depositOwner-occupier
Product NameBank of Queensland Economy Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.23%
Comp. Rate p.a.6.38%
Minimum Loan Amount$0
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.23%
Comparison Rate
6.38%
Fees
Application: $300
Ongoing: $10 per month
Monthly Payment
$923
BOQ logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupier
BOQ logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupier
Product NameBank of Queensland Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.29%
Comp. Rate p.a.6.49%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.29%
Comparison Rate
6.49%
Fees
Application: $0
Ongoing: $10 per month
Monthly Payment
$929
BOQ logo
Interest only 3Y Fixed10% min. depositInvestment
BOQ logo
Interest only 3Y Fixed10% min. depositInvestment
Product NameBank of Queensland Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.6.34%
Comp. Rate p.a.6.64%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.34%
Comparison Rate
6.64%
Fees
Application: $0
Ongoing: $10 per month
Monthly Payment
$934
BOQ logo
Principal & Interest20% min. depositOwner-occupierOffset account
BOQ logo
Principal & Interest20% min. depositOwner-occupierOffset account
Product NameBank of Queensland Clear Path Variable Rate Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.39%
Comp. Rate p.a.6.51%
Minimum Loan Amount$0
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.39%
Comparison Rate
6.51%
Fees
Application: $0
Ongoing: $0 per month
Monthly Payment
$939
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Bank of Queensland key facts

  • Bank of Queensland has some competitive interest rates, especially on its fixed rate loans. Most of its loans have an upfront application fee.
  • The bank offers fixed and variable rate loans, including introductory variable rate loans.
  • You need at least a 10% deposit to qualify for some Bank of Queensland home loans, but many require a 20% deposit or even higher. Borrowers with small deposits should research carefully to avoid applying for a rate they cannot get.
  • Bank of Queensland also offers credit cards, savings accounts and other banking services.

Review by our senior home loans writer Richard Whitten

Bank of Queensland home loan features

Here are the key features and details you need to know about Bank of Queensland's mortgage products.

FeatureDetails
Minimum depositWhile some Bank of Queensland loans have 90% maximum LVRs, meaning you can get them with 10% deposits, many don't. Some of the bank's lowest rates are for borrowers with 20% deposits.
Offset account?Some Bank of Queensland loans come with offset accounts. You won't find this feature on BOQ's fixed rate loans.
FeesApplication fees are common across most Bank of Queensland loans.
Repayment optionsBank of Queensland home loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans.

How do I apply for a Bank of Queensland mortgage?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

Each Bank of Queensland product has specific eligibility criteria, but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Bank of Queensland you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

📄 Property details. You can start a loan enquiry before you've bought a property, but to complete an application, you need the address of the property and a signed contract of sale.

📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.

📄 Proof of income documents. Recent payslips can establish your income.

📄 Asset and liability documents. You need to provide documents showing your current assets (such as savings accounts or investments) and liabilities (for example, your outstanding debt).

How to apply for a home loan

Lenders like Bank of Queensland

If you're looking for a home loan from a similar lender to the Bank of Queensland, you could look at the Big Four or some of Australia's other mid-sized lenders.

  • Big Four banks. Check out home loans from Australia's Big Four banks.
  • AMP. AMP is a large Australian lender and financial services provider.
  • Suncorp Bank. This Queensland-based lender also provides insurance and superannuation services.
  • Macquarie Bank. This retail and investment bank is one of Australia's largest.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.

More home loan questions

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Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

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32 Responses

    Default Gravatar
    AmosDecember 11, 2021

    How much loan I can get for my taxable income of
    $56357- First home buyer. Permanent part time nurse

      AvatarFinder
      SarahDecember 15, 2021Finder

      Hi Amos,

      It looks like the amount has been cut off. But you can use Finder’s borrowing power calculator to get a quick estimate of how much you may be eligible to borrow for your home loan. Simply enter a few details about your income, debt, and expenses to get an estimate.

      You can speak with a professional mortgage broker for more help and to get personalised advice.

      I hope this helps!

      Cheers,
      Sarah”

    Default Gravatar
    CarlieMarch 26, 2017

    Hi i would like to know if you offer indigenous home loans?

      AvatarFinder
      MayMarch 26, 2017Finder

      Hi Carlie,

      Thank you for your question and for contacting finder.com.au – we are a financial comparison website and general information service we are not mortgage specialists so can only offer general advice.

      Please feel free to check the lenders that offer Indigenous Home Loans featured on our website.

      You may also want to speak to a mortgage broker. A mortgage broker is a professional who compares and helps you apply for home loans on your behalf. A good mortgage broker will give you personalised service all the way through to settlement.

      Hope this helps.

      Cheers,
      May

    Default Gravatar
    JanaApril 6, 2016

    Hello,
    I would like to apply for vacant land loan.
    Could you please let me know if you offer such a loan and if yes how can I apply?
    Thanks

      Default Gravatar
      BelindaApril 7, 2016

      Hi Jana,

      Thanks for reaching out.

      You can compare lenders that offer vacant land home loans. Some of these loans may not be available for purchases of acreages or larger pieces of land. Please keep in mind that these types of loans typically have a lower loan-to-value (LVR) ratio due to the conservative approach that lenders have for vacant land loans.

      If you would like to discuss your eligibility for a vacant land home loan, please get in touch with a mortgage broker to help you understand your financial position and they can leverage their panel of networks to find a lender that’s more inclined to review your application.

      All the best,
      Belinda

    Default Gravatar
    RachelMarch 1, 2016

    I am looking for a land loan. Could you point me in the direction with information.
    Thank you

      Default Gravatar
      BelindaMarch 2, 2016

      Hi Rachel,

      Thanks for getting in touch.

      You can find our handy guide to compare financing options for vacant land.You may also want to learn more about construction loans to help you further.

      Keep in mind that lenders often take a conservative approach towards vacant land and construction home loans and they may offer a lower maximum LVR compared to traditional home loans. As a result, you may need to complete a larger deposit in order to be approved.

      I also suggest to get in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that’s more inclined to review your application.

      All the best,
      Belinda

    Default Gravatar
    EDFebruary 7, 2016

    Hi,

    I’m looking for a suitable home loan as a first home buyer. Would a broker get a better deal if I use one or I can get the same deal if I do it myself direct to the bank?

    Regards

      AvatarFinder
      MarcFebruary 8, 2016Finder

      Hi Ed,
      thanks for the question.

      Brokers can sometimes get access to special broker only rates, but on the flip side, some online lenders only deal with consumers, not brokers. It might be a good idea to compare rates and see what deals are available and then speak to a broker once you’re aware of the rates on offer. This way you can be sure you get the best deal for you.

      I hope this helps,
      Marc.

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