QPCU has announced a new discount on its three-year fixed rate home loan, with the new rate coming into effect November 4.

The discount offer is at 3.89% p.a., with a comparison rate of 4.50%. This new rate is valid for new lending as well as principal and interest loans of more than $150,000.

On top of the discounted rate, the home loan product boasts additional features such as no monthly fees, no penalties for extra repayments, and free online redraws.

Grant Devine, QPCU CEO, believes that the new fixed rate offer will present great value for members.

“The rates we have announced today really are market-leading and show our commitment to providing better value than our competitors,” he said.