Qudos Bank Low Cost Home Loan Welcome Rate Review

A low-rate home loan that offers attractive features and no fees.

The Qudos Bank Low Cost Home Loan Welcome Rate offers a sharp interest rate along with features that usually attract annual or monthly fees. However, this loan comes with no upfront or ongoing fees and also offers discounts on other Qudos Bank products and services.

Interest Rate Max Insured LVR Max LVR
20% or more deposit (Investor)
4.54% p.a.
Comparison Rate
4.54% p.a.
95% 80%
20% or more deposit (Owner Occupier)
3.89% p.a.
Comparison Rate
3.89% p.a.
95% 80%
At least 10% but less than 20% deposit (Investor)
4.64% p.a.
Comparison Rate
4.64% p.a.
80% 80%
At least 10% but less than 20% deposit (Owner Occupier)
3.99% p.a.
Comparison Rate
3.99% p.a.
95% 80%
Less than 10% deposit (Investor)
4.94% p.a.
Comparison Rate
4.94% p.a.
80% 80%
Less than 10% deposit (Owner Occupier)
4.29% p.a.
Comparison Rate
4.29% p.a.
95% 80%
Product NameQudos Bank Low Cost Home Loan Welcome Rate
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$3,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$0

Pros

  • No establishment, package or annual fees
  • Free 100% offset account
  • Complimentary meeting with a financial planner
  • High maximum LVR

Cons

  • Only available for new owner occupier home loans over $250K

Factors to consider about the Qudos Bank Low Cost Home Loan Welcome Rate

The Qudos Bank Low Cost Home Loan is a low-rate variable home loan that is available to both owner-occupiers and investors, although investors will pay a higher rate than owner-occupiers. This loan comes with features such as a redraw facility and a 100% offset account but carries no upfront or ongoing fees. Borrowers who choose this loan also receive a free meeting with a Qudos Bank financial planner and a 10% discount on Allianz home and contents insurance.

Features of the Qudos Bank Low Cost Home Loan Welcome Rate

  • Loan amount and term. The Qudos Bank Low Cost Home Loan has a minimum loan amount of $150,000 and no maximum loan amount. The maximum loan term is 30 years.
  • Loan-to-value ratio (LVR). You can borrow up to 95% of the value of the property you’re intending to buy. However, loans above 80% LVR require lenders mortgage insurance (LMI).
  • Free 100% offset account. This loan comes with a free offset account, which allows you to reduce the interest payable on your home loan and enables you to pay off your home loan quicker.
  • Redraw facility. The Qudos Bank Low Cost Home Loan offers a redraw facility, which gives you online access to any additional funds you’ve paid on your home loan.
  • Repayment holiday. If you’ve made additional repayments on your home loan, the Qudos Bank Low Cost Home Loan allows you to apply for a repayment holiday. Repayment holidays are not available on interest-only loans.
  • Flexible repayments. This loan offers unlimited additional repayments without a penalty. You can make repayments weekly, fortnightly or monthly. The Qudos Bank Low Cost Home Loan also offers both principal and interest or interest-only repayments. You can make interest-only repayments for a period of up to five years.
  • Additional savings. Customers who take out a Qudos Bank Low Cost Home Loan are eligible for a complimentary meeting with one of the bank’s financial planners and also receive a 10% discount on Allianz home and contents insurance.
  • Fee free. The Qudos Bank Low Cost Home Loan comes with no ongoing or upfront fees.

Fees

The Qudos Bank Low Cost Home Loan carries no annual fees, no monthly fees and no upfront application fees.

How to apply for the Qudos Bank Low Cost Home Loan

If the Qudos Bank Low Cost Home Loan Welcome Rate sounds like a product that meets your home loan needs, you can head to Qudos Bank’s website for more details and to apply. When you apply, you’ll need to provide the following details:

  • Personal details. Qudos Bank will need your name, address and date of birth as well as details about your employment.
  • Property details. Qudos Bank will want details about the property you intend to buy and the loan amount you’re applying for.
  • Financial details. You’ll need to provide details about your income, assets and liabilities, including any outstanding debts and open credit accounts.

The Qudos Bank Low Cost Home Loan Welcome Rate offers a range of features, no fees and a competitive rate. It could be worth adding it to your home loan comparison.

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Qudos Bank Low Cost Home Loan Welcome Rate

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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