Bank of Queensland Limited Home Loans: The 2026 Review
Enjoy no hidden fees and free transactions with BOQ Home Loans. Be aware of the $350 discharge fee. Ready to explore your options?
Bheja Verdict
Very Good
Bank of Queensland Limited Home Loans At a Glance
6.03%
Variable • Owner Occupied
$300
Upfront fee applies
$10
Ongoing service fee
Available
68 products with cashback
Current Bank of Queensland Limited Home Loan Rates
Last updated: July 2026
- Average Rate
- 6.75%
- Best Rate
- 6.08%
- Monthly Payment
- $3,024
Economy Variable Home Loan
Bank of Queensland Limited
20%-30% DepositRedrawCashback6.08%Interest RateVariable6.23%Comparison Rate*$3,024per monthPrincipal And InterestFees:Application $300$10Ongoing/month$350+ other fees may applyDischargeClear Path Variable Home Loan
Bank of Queensland Limited
Min 20% DepositOffsetRedrawCashback6.14%Interest RateVariable6.26%Comparison Rate*$3,043per monthPrincipal And InterestFees:$10Ongoing/month$350+ other fees may applyDischargeEconomy Variable Home Loan
Bank of Queensland Limited
10%-20% DepositRedrawCashback6.19%Interest RateVariable6.34%Comparison Rate*$3,059per monthPrincipal And InterestFees:Application $300$10Ongoing/month$350+ other fees may applyDischargeClear Path Variable Home Loan
Bank of Queensland Limited
10%-20% DepositOffsetRedrawCashback6.29%Interest RateVariable6.41%Comparison Rate*$3,092per monthPrincipal And InterestFees:$10Ongoing/month$350+ other fees may applyDischargeEconomy Variable Home Loan
Bank of Queensland Limited
Min 10% DepositRedrawCashback7.57%Interest RateVariable7.71%Comparison Rate*$3,520per monthPrincipal And InterestFees:Application $300$10Ongoing/month$350+ other fees may applyDischargeClear Path Variable Home Loan
Bank of Queensland Limited
Min 5% DepositOffsetRedrawCashback8.24%Interest RateVariable8.35%Comparison Rate*$3,753per monthPrincipal And InterestFees:$10Ongoing/month$350+ other fees may applyDischarge
Bank of Queensland Limited Product Statistics
Real-time insights and market analysis
Bank of Queensland Limited offers 3 home loan products across 68 variations, the average variable rate is 7.06% p.a., the best available rate is 6.03% p.a..
Average Variable Rate
7.06%
27 products
Average Fixed Rate
7.07%
41 products
Best Available Rate
6.03%
Variable • Owner Occupied • P&I
Total Products
3
68 variations
Fee Summary
Application Fee
$300
Monthly Fee
$10
Discharge Fee
$350
Late Payment Fee
$30
Key Features
Across Bank of Queensland Limited's range: 14 include an offset account, 27 offer redraw, 68 allow extra repayments, 68 support split loans.
Product Ranges
Bank of Queensland Limited's interest rates range from 6.03% to 9.12% p.a., maximum LVR from 70% to 95%, loan amounts span $20,000 to $100,000,000.
Cashback Offer: $2,000 cashback offer only available for owner occupier and investor home loan applications received through a BOQ Branch from 07 July 2025 and settles within 120 days of the loan application date. Applicants must be Australian residents aged 18 years and over who are personal customers taking out a new home loan with BOQ for purchase of an owner occupied or investment residential property. Offer available on BOQ’s Clear Path, Economy, or Fixed Rate home loan products only for owner occupier and investor loans and not available for owner occupier interest only loans and construction loans. Minimum total new lending of $400,000 with a loan to value ratio (LVR) above 80% and subject to the requirement to pay Lenders Mortgage Insurance (LMI). Only one cash back will be paid per qualifying home loan application regardless of the number of borrowers.
Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.
How Bank of Queensland Limited Compares
| FEATURE | Bank of Queensland Limited | Bank of Sydney | BOQ Specialist | ME Bank - ME Go | MOVE Bank |
|---|---|---|---|---|---|
| Best Variable Rate | 6.03% | 6.09% | 8.02% | 5.99% | 5.99% |
| Best Fixed Rate (3yr) | 6.49% | — | — | 6.49% | 6.24% |
| Application Fee | $300 | $400 | $0 | $0 | $600 |
| Monthly Admin Fee | $10 | $10 | $10 | $0 | $0 |
| Offset Account | |||||
| Redraw Facility | |||||
| Product Variations | 68 | 31 | 12 | 200 | 28 |
Bheja Insight: Bank of Queensland Limited offers offset accounts like most major banks, helping reduce interest while keeping funds accessible.
About Bank of Queensland Limited
Company overview and contact information
Bank of Queensland Limited, established in 1874, is a major bank listed on the Australian Securities Exchange. Originally founded as The Brisbane Permanent Benefit Building and Investment Society, it has evolved significantly over the years. The bank obtained its trading licence in 1942 and adopted its current name in 1970. Headquartered in Newstead, Queensland, it operates as an Authorised Deposit-taking Institution (ADI) and holds both an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL).
BOQ offers a diverse range of home loan products with 68 variations, featuring interest rates from 6.03% to 9.12%. These products cater to a wide array of customers, from first-time homebuyers to seasoned investors. The bank is known for its competitive offerings, including no account maintenance fees and free transactions at BOQ ATMs. Customers can access services through both physical branches and online platforms, providing flexibility and convenience.
What sets BOQ apart is its commitment to providing certainty and transparency in its lending services. With fixed repayment options and a reputation for customer-friendly policies, the bank ensures a straightforward borrowing experience. Its long-standing presence in the Australian financial landscape underscores its reliability and dedication to serving the community's financial needs.
Company Details
Key Features
Bank of Queensland Limited offers a range of flexible home loan features, including competitive fixed and variable rates, to suit diverse borrower needs.
Additional Repayments
Bank of Queensland Limited allows borrowers to make additional repayments of up to $10,000 annually on fixed rate loans without incurring penalties. This feature enables borrowers to reduce their loan balance faster, potentially saving on interest costs over the loan term.
$2,000 Cashback Offer
Available for new owner occupier and investor home loan applications received through a BOQ Branch from 07 July 2025, this offer provides a $2,000 cashback for loans settled within 120 days. Eligible loans must have a minimum of $400,000 in new lending with an LVR above 80%, subject to LMI.
Loan Structure Flexibility
BOQ's loan structure allows for multiple portions with different terms, offering borrowers the flexibility to tailor their loan according to their financial goals. This can include a mix of fixed and variable rates to balance stability and potential savings.
Split Loans
Borrowers can split their loan into fixed and variable portions, with a fixed loan application fee applicable. This provides the advantage of securing a fixed rate while still benefiting from potential variable rate decreases.
Online Banking Features
BOQ provides comprehensive online banking features, enabling borrowers to manage their loans conveniently through digital platforms. This includes access to account details, transaction history, and payment scheduling.
Flexible Repayment Options
BOQ offers flexible repayment options, allowing borrowers to choose between weekly, fortnightly, or monthly payments. This flexibility helps borrowers align their loan repayments with their income schedules.
100% Mortgage Offset Account
A 100% mortgage offset account is available, reducing the interest payable on the loan by offsetting the balance against the loan amount. This feature is not available for loans in the name of companies and trusts.
No Minimum Loan Amount
BOQ home loans have no minimum loan amount, making them accessible to a wide range of borrowers, including those purchasing lower-value properties.
Free Property Valuation
BOQ offers one free property valuation for home loans, helping borrowers save on upfront costs associated with purchasing a property.
Construction Loan Availability
BOQ provides loans specifically for construction purposes, with a variable interest-only rate during the construction period. This supports borrowers looking to build or renovate their homes.
Fees & Charges
Bank of Queensland Limited offers a comprehensive range of home loan products with various fees, ensuring transparency in their fee structure. Borrowers should be aware of both upfront and ongoing fees, as well as potential costs associated with specific actions or changes to their loan.
Fees subject to change. Refer to lender documentation for current rates.
Eligibility Criteria
Bank of Queensland Limited offers home loans to individuals who meet specific age, residency, and financial criteria, ensuring accessibility for a wide range of borrowers.
Important Notes
- LMI is required for loans with an LVR above 80%.
- Maximum LVR for new lending is 80%, not available for refinance or restructuring.
- Contact BOQ for specific documentation requirements.
- Scammers have spoofed BOQ's genuine number; verify contact details.
Bank of Queensland Limited Home Loan Pros & Cons
Our expert take on whether Bank of Queensland Limited is right for you
Pros
- +Up to $10,000 in additional repayments annually without penalty
- +$2,000 cashback offer for qualifying loans (valid from 07 July 2025)
- +No account maintenance fees
Cons
- –Rates are above market average
- –Significant customer service complaints
- –High discharge fee of $350
Best For
- Borrowers seeking flexible repayment options
- Homebuyers interested in cashback offers
- Customers valuing no account maintenance fees
Not Ideal For
- Borrowers seeking the lowest interest rates
- Customers prioritizing excellent customer service
Bheja Verdict: Bank of Queensland offers competitive home loan features, but higher-than-average rates and customer service issues may deter some borrowers.
Expert Secrets (Why Use Us?)
Insider knowledge about Bank of Queensland Limited that most borrowers don't know
LMI Cost Examples
Fee Waivers
Offset Benefits
Admin & Logistics (The Help Desk)
Everything you need to manage your loan
Application Process
5 StepsProcessing Times
Pro Tips
- Request the discharge at least 2 weeks before your intended settlement date.
- Ensure all overdue amounts are cleared to avoid additional fees.
- Contact BOQ Home Loan Specialists for personalized guidance.
- Keep a record of all communications and confirmations.
- Double-check all forms for accuracy before submission.
Bank of Queensland Limited Mortgage Calculator
Estimate your repayments using current Bank of Queensland Limited home loan rates
Over 30 years, borrowing $480,000 at 6.03%, total cost including interest and known fees could be around $1,047,509. Estimated monthly repayment: $2,887.11.
This loan can be split between fixed and variable. This estimate uses one option only.
Known fees in this estimate
- Application fee
- $300
- Settlement fee
- $150
- Document fee
- $150
- Discharge fee
- $350
- Monthly fee
- $20 / month
- Total ongoing fees (30 yrs)
- $7,200
How is this calculated?
Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.
The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.
Cost breakdown
- Amount you borrow
- $480,000
- Total interest
- $559,359
- Upfront fees
- $600
- Ongoing fees
- $7,200
- Discharge fee
- $350
- Estimated total cost
- $1,047,509
- These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
- Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
- Split loans and offset accounts aren't included in this estimate.
- For product comparison and comparison rates, see the rates table above.
Still Unsure? Let a human handle it.
Not sure if Bank of Queensland Limited is right for you? Our brokers can help you compare options.
Frequently Asked Questions
Approval timelines aren't specified, so it's best to contact BOQ directly for the most accurate information. Keep in mind that processing times can vary based on the complexity of your application.