Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .

RACQ Bank was born from the merger of RACQ and QT Mutual Bank in 2017.

RACQ Bank has physical presence in Queensland, with over 13 branches throughout the state. It also has a team of mobile lenders who can visit you at home and talk to you about a loan set-up that suits your personal circumstances.

Working closely with the Customer Owned Banking Association (the governing body of Australian credit unions and building societies), the bank helped develop the Customer Owned Banking Code of Practice. That code reinforces the bank’s commitment to the benefits of mutuality, community involvement, fairer fees, and customer service.

RACQ Bank offers the following banking products: transaction and savings accounts, home loans, personal loans, credit cards, and term deposits. In terms of home loan products, the bank provides both fixed and variable rate home loans for first home buyers and investors which come with flexible repayment options, competitive interest rates and low fees.

Before you can apply for a home loan with RACQ Bank, you must meet the following requirements:

  • Be over 18 years old
  • Be an Australian citizen or permanent resident
  • Never had any of the following in the past seven years:
    • Declaration of bankruptcy or insolvency
    • Default on any loans, credit cards or similar

To apply for a loan, you will need to provide the following:

  • Your personal details and contact details (including a valid email address)
  • Proof of salary (such as payslips) and evidence of other income including government payments and rental income
  • Statements of any liabilities including credit cards or other existing loans
  • A copy of your council rates notice
  • A copy of your driver's licence or passport
  • Home loan statements (if you are refinancing)

You can make your home loan applications online or by downloading and completing relevant documentation then sending them to RACQ Bank via post.