What would you do with a $40k home loan saving?
Leading finance website InfoChoice recently compared the Queenslanders Original Home Loan with similar offerings from the Big 4 Banks. They found that by choosing the Original Home Loan for the average size mortgage, you could save yourself $39,903 over 25 years!
- A low variable interest rate of 5.23%p.a. (5.27%p.a. comparison rate#)
- Free mortgage offset account, to help you pay less interest.
- No regular service fees.
- Make additional repayments at any time.
- Redraw additional repayments made at any time.
- Choice of weekly, fortnightly, or monthly repayments.
- Up to 30 years to repay the loan.
- Interest only option.
- Ability to use the loan to pay for the home you live in, or an investment property.
- Loyalty rebates to avoid transaction fees on savings accounts.
If you’re borrowing more than $250,000, you’re eligible for the Queenslanders Ultimate Home Loan. This comes with an even lower rate of interest – 5.00%p.a. (5.06%p.a. comparison rate#) and was awarded the prestigious 5 stars for outstanding value by independent ratings firm CANSTAR!
Or, if you’d prefer to lock in a rate, you can choose a home loan that’s fixed for 1, 2, 3 or 5 years.
Queenslanders Credit Union has provided banking services to our local communities for 50 years, but we can very proudly say we’re not a bank!
We’re 100% Australian and owned by our customers. As we don’t need to make massive profits to keep shareholders happy, our sole focus is providing the best possible products and services, while giving back to the community.
It’s all part of our promise to provide banking that’s personal.
Source: InfoChoice. The potential savings calculation was based on a comparison of the advertised home loan rates and fees offered by the Big 4 Banks (ANZ, Commonwealth Bank, NAB and Westpac) with the Queenslanders Credit Union Original Home Loan. The comparison scenario is for a standard variable loan for a $301,800 mortgage over a 25 year period. The average home loan size is sourced from the Australian Bureau of Statistics. Assumes monthly repayment frequency and that all repayments are made as they fall due. Weekly or fortnightly repayments can further reduce the interest you pay. Calculations exclude any loyalty discounts. Home loans over $250,000 qualify for the Queenslanders Ultimate Home Loan, which offers an even lower interest rate than the Original Home Loan. No assumptions have been made with regard to future interest rate fluctuations. This calculation was undertaken using rates current as at 28 June 2013.
Terms, conditions, fees and charges as well as our standard lending criteria apply. Full details are available on request. Interest rates effective 15 August 2013 for new business and 27 August 2023 for existing business, subject to change. #Comparison rate based on a loan of $150,000 over 25 years, secured. Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. View the full comparison rate schedule.