Bank of Queensland Limited Home Loans: The 2026 Review

Bank of Queensland Limited (BOQ) was established in 1874 as The Brisbane Permanent Benefit Building and Investment Society. It became an incorporated entity in 1887 and was rebranded as Bank of Queensland in 1970. A year later, BOQ listed on the Australian Securities Exchange, marking a significant milestone in its growth. Headquartered in Newstead, Queensland, BOQ has expanded its operations while maintaining a strong commitment to its regional roots.

Today, BOQ is recognised as a major bank in Australia, operating independently from the Big 4 banks. This independence allows BOQ to focus on regional support and offer flexible loan options tailored to its customers' needs. With a network of physical branches and a robust online presence, BOQ serves a diverse customer base across the country, providing a range of financial products and services.

BOQ targets regional customers and those seeking personalised home loan solutions. The bank offers competitive rates and flexible loan structures, including features like redraw and offset facilities. BOQ's emphasis on customer satisfaction and regional support differentiates it from larger banks. While some customers note challenges with customer service and processing times, BOQ continues to provide compelling home loan products with benefits such as fee waivers and cashback offers.

• Legal Name: Bank of Queensland Limited
• ABN: 32009656740
• ACN: 009656740
• Established: 1874
• Headquarters: Newstead, Queensland
• Type: Public Company
• Ownership: Independent

• Website: https://www.boq.com.au
• Phone: 1300 55 72 72
• Address: Level 3, 100 Skyring Terrace, Newstead, Queensland 4006

Bank of Queensland Limited offers flexible home loan solutions with features designed to enhance borrower value, including competitive interest rates and regional support.

• Additional Repayments: Borrowers can make additional repayments up to $10,000 annually without penalty, allowing them to reduce their loan balance faster and save on interest over time.
• $2,000 Cashback Offer: A $2,000 cashback is available for owner occupier and investor home loan applications received through a BOQ Branch from 07 July 2025 and settling within 120 days. This offer is applicable to new home loans of at least $400,000 with specific LVR conditions, providing an immediate financial benefit to eligible borrowers.
• Flexible Loan Structure: BOQ allows loans to be structured in multiple portions with different terms, offering borrowers the flexibility to tailor their loan to suit their financial needs and goals.
• No Minimum Loan Amount: There is no minimum loan amount required, making BOQ's home loans accessible to a wide range of borrowers, including those seeking smaller loan amounts.
• Repayment Options: Borrowers can choose from weekly, fortnightly, or monthly repayment schedules, providing flexibility to align loan payments with their income cycle and budgeting preferences.
• 100% Mortgage Offset Account: A 100% mortgage offset account is available, enabling borrowers to reduce the interest payable on their home loan by offsetting the loan balance with the funds in their offset account.
• Unlimited Free Redraw: BOQ offers unlimited free redraws with a minimum amount of $100, allowing borrowers to access extra repayments if needed, providing liquidity and financial flexibility.
• Online Banking Features: Access to comprehensive online banking features ensures borrowers can manage their loans conveniently, with tools for monitoring loan balances and making payments.
• Construction Loan Availability: BOQ provides loans specifically for construction purposes, with a variable interest-only rate during the construction period, catering to borrowers building new homes.
• Split Loan Options: Borrowers can split their loan into fixed and variable portions, allowing them to benefit from the stability of fixed rates while taking advantage of potential rate decreases on the variable portion.

Bank of Queensland Limited provides a detailed fee structure for its home loan products, ensuring transparency and clarity for borrowers. The fees vary by product and include both upfront and ongoing charges, with specific conditions and potential waivers available.

• Application Fee: $300 - Payable upon application for a home loan. Waived for fixed rate home loans.
• Settlement Fee: $150 - Charged at the time of loan settlement.
• Rate Lock Fee: Variable - Applicable if you choose to lock in your interest rate on a fixed rate home loan. The rate is held for 100 days.
• Monthly Fee: $10 (Monthly) - Charged monthly, though discounts may apply. Check your loan schedule for details.
• Security Release Fee: $350 - Payable when a security is discharged at your request.
• Break Cost Administration Fee: $50 - Charged if a fixed rate period is broken or if extra repayments exceed $5,000 annually during the fixed rate period.
• Government and Other Charges: Variable - Includes fees payable to third parties like mortgage duty and land title search fees. These vary by state.
• Production Fee: $150 - Charged if a certificate of title or security is produced for another financial institution.

Bank of Queensland Limited offers home loans to Australian residents and citizens who meet specific financial and credit criteria, emphasising flexibility and regional support.

• Must be at least 18 years old.
• Must be an Australian resident or citizen.
• Must have a regular income to demonstrate the ability to repay the loan.
• Must have never been bankrupt.
• Minimum loan amount of $400,000 is required.
• Loan-to-Value Ratio (LVR) restrictions apply; up to 95% on some products with lender's mortgage insurance (LMI).
• Borrowers must be natural persons, not legal entities.

• LMI is required for loans with an LVR above 80%.
• First home buyers may access special programs with reduced deposit requirements.
• Additional repayments up to $10,000 annually are allowed without penalty.