QPCU is now offering its Classic Home Loan product at a discount, with the new rate effective right now.

The 3.97% p.a. offer is valid for new lending, as well as Principal and Interest loans of more than $150,000. With the offer, there will be no upfront fees for new loans over $150. The product also excludes Interest only.

Previously, QPCU launched a 3.89% p.a. three-year fixed rate home loan last November.

QPCU wants to give brokers a real alternative through the new rates, revealed QPCU Executive Manager Sales and Distribution Lee Slattery.

“We believe having market leading rates like our new variable rate offer and existing fixed rate offer, helps brokers talk to their customers about making the move to QPCU,” he said.

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