Queenslanders Credit Union Home Loan Review
Last updated on August 16th, 2022
Read Here for Our Queenslanders Credit Union Home Loan Review:
Queenslanders Credit Union home loans have been merged with Queensland Country since 2018. Now known as Queensland Country Bank, this company provides both variable and fixed-rate home loans to borrowers.
Who is eligible for Queenslanders Credit Union home loans?
The eligibility and document requirements of this lender are the following:
- Age requirement: The borrower must at least be 18 years old.
- Income: The borrower must at least be 18 years old.
- Australian resident: The borrower must at least be 18 years old.
What Queenslander Credit Union home loans are available?
Queensland Country Bank has both variable and fixed-rate home loan packages available for borrowers to choose from. Their variable rate packages include the following:
1. Ultimate Home Loan Package (Variable)
This excellent package combines the lowest variable rates with numerous discounts and benefits. Some notable features include:
- Rates:
| Principal + Interest | Interest Only | |
| Special Variable Package (<80%) | 1.99% yearly interest rate
2.39% yearly comparison rate |
3.49% yearly interest rate
3.60% yearly comparison rate |
| Special Variable Package Rate (<80%) | 3.14% yearly interest rate
3.51% yearly comparison rate |
3.49% yearly interest rate
3.60% yearly comparison rate |
| Standard Ultimate Home Loan Package | 3.99% yearly interest rate
4.34% yearly comparison rate |
4.34% yearly interest rate
4.68% yearly comparison rate |
- Repayment options: Flexible repayment options, no repayment penalties
- Redraw facilities: Available in an owner-occupied loan
- Terms: Up to thirty years
- Other features: No establishment, mortgage document, or monthly maintenance fees. It also features insurance discounts during the first year.
2. Standard Variable Rate Home Loan
The standard variable rate home loan also has some key features, although not as many as offered in the Ultimate package.
- Rates:
| Principal + Interest | Interest Only | |
| Standard Variable Rate Home Loan | 4.49% yearly interest rate
4.65% yearly comparison rate |
4.84% yearly interest rate
5.00% yearly comparison rate |
- Repayment options: Flexible repayment options with no penalties for repayments
- Redraw facilities: Available in an owner-occupied loan
- Terms: Up to thirty years
- Other features: Establishment, loan maintenance, and document fees are required
3. Home Equity Loan
This allows borrowers to take out funds based on their current residence’s value. This is excellent for funding renovations or other worthwhile endeavours.
- Rates:
| Principal + Interest | |
| Home Equity Loan | 5.49% yearly interest rate
6.36% yearly comparison rate |
- Repayment options: Flexible repayment options with no penalties for repayments
- Terms: Up to ten years
- Other features: Borrow up to 90% of the property’s value
Queensland Country Bank also offers fixed-rate loans, with the following packages:
1. Ultimate Home Loan Package (Fixed)
This bears many similarities to its fixed-rate counterpart, with the obvious exception of rate differences. However, there are also some differences in their features.
- Rates:
| Principal + Interest | Interest Only | |
| 2-year Fixed Special Package | 2.09% yearly interest rate
3.81% yearly comparison rate |
- |
| 1-year Fixed Special Package | 2.09% yearly interest rate
3.95% yearly comparison rate |
- |
| 3-Year Fixed Package (<90%) | 2.69% yearly interest rate
4.01% yearly comparison rate |
3.04% yearly interest rate
4.35% yearly comparison rate |
| 2-Year Fixed Package (<90%) | 2.69% yearly interest rate
4.11% yearly comparison rate |
3.04% yearly interest rate
4.45% yearly comparison rate |
| 1-Year Fixed Package (<90%) | 2.69% yearly interest rate
4.22% yearly comparison rate |
3.04% yearly interest rate
4.56% yearly comparison rate |
| 3-Year Fixed Package (>90%) | 2.94% yearly interest rate
4.07% yearly comparison rate |
3.29% yearly interest rate
4.41% yearly comparison rate |
| 2-Year Fixed Package (>90%) | 2.94% yearly interest rate
4.16% yearly comparison rate |
3.29% yearly interest rate
4.50% yearly comparison rate |
| 1-Year Fixed Package (>90%) | 2.94% yearly interest rate
4.25% yearly comparison rate |
3.29% yearly interest rate
4.59% yearly comparison rate |
- Repayment options: Flexible repayment options, up to $10,000 yearly
- Redraw facilities: Available in an owner-occupied loan
- Terms: Up to thirty years
- Other features: No establishment, mortgage document, or monthly maintenance fees. It also features insurance discounts during the first year.
2. Fixed-Rate Home Loan
This is the standard fixed-rate home loan that this company offers. See the details of this plan below:
- Rates:
| Principal + Interest | Interest Only | |
| 3-Year Fixed Package (<90%) | 2.84% yearly interest rate
4.22% yearly comparison rate |
3.19% yearly interest rate
4.56% yearly comparison rate |
| 2-Year Fixed Package (<90%) | 2.84% yearly interest rate
4.35% yearly comparison rate |
3.19% yearly interest rate
4.69% yearly comparison rate |
| 1-Year Fixed Package (<90%) | 2.84% yearly interest rate
4.49% yearly comparison rate |
3.19% yearly interest rate
4.84% yearly comparison rate |
| 3-Year Fixed Package (>90%) | 3.09% yearly interest rate
4.28% yearly comparison rate |
3.44% yearly interest rate
4.63% yearly comparison rate |
| 2-Year Fixed Package (>90%) | 3.09% yearly interest rate
4.40% yearly comparison rate |
3.44% yearly interest rate
4.74% yearly comparison rate |
| 1-Year Fixed Package (>90%) | 3.09% yearly interest rate
4.52% yearly comparison rate |
3.44% yearly interest rate
4.86% yearly comparison rate |
- Repayment options: Flexible repayment options, up to $10,000 yearly
- Redraw facilities: Available in an owner-occupied loan
- Terms: Up to thirty years
- Other features: Full offset available for owner-occupied clients.
Compare Queenslander Credit Union home loans with other loan packages
Queenslander Credit Union home loans offer many choices. However, there may still be others out there that can provide you with a better deal.
To help you decide what offer is best, compare Queensland Country Bank deals with offers from other companies. Makes Cents is an excellent choice for comparing offers. Try it out today!
Our Queenslanders Credit Union Home Loan Review is just one of many. You can also read reviews on many more Home Loan Reviews at MakesCents.
