The Australian Government 5% Deposit Scheme for Single Parents is an initiative to support eligible home buyers to buy a home sooner.
| Home Loan | Loan to Value Ratio | Interest Rate | Comparison Rate* |
| Special Offer Classic Variable | <98% | 5.34% PA | 5.36% PA |
| 3 Year Fixed^ | <98% | 4.99% PA | 6.69% PA |
1 To be eligible for the above rates, a salary credit of at least $1,500 per month must be deposited into your QBANK transaction account. New lending only.
The Australian Government 5% Deposit Scheme is for eligible single parents and eligible single legal guardians of at least one dependent, such as aunts, uncles or grandparents. Applicants can include those who are not first home buyers.
The purpose is to support eligible single parents and eligible single legal guardians step into their new family home with a minimum 2% deposit and backing from the Australian Government. No income caps, no waitlists and no LMI helps get you into your own home sooner.
An eligible single parent or eligible single legal guardian is not required to be a first home buyer but must not own separate property at the time of settling a loan under the Scheme. The single parent or single legal guardian must meet the eligible lender's credit assessment criteria.
You can find more information about the Scheme and eligibility criteria on the Australian Government 5% Deposit Scheme website.
If you would like to know more about the Scheme including eligibility criteria please download the Single Parents Information Guide or visit the Australian Government 5% Deposit Scheme website. For more information about QBANK Home Loans (including credit eligibility criteria, terms and conditions, fees and charges) please visit our Home Loan Key Fact Sheet.
Terms and Conditions apply to home loans and are provided with our loan offer. Fees and charges apply.
Interest rates current as at 11 September 2025 and are subject to change without notice.
Fact Sheets are available here.
Target Market Determination is available here.
If you would like to know more about the Scheme please visit https://firsthomebuyers.gov.au/australian-government-5-percent-deposit-scheme
*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. The comparison rate displayed is calculated based on a loan amount of $150,000 over a 25 year term.
^ After the expiry of the fixed rate period, the interest rate changes to QBANK’s Classic Variable Home Loan Product Rate (currently 7.34%p.a. for Owner Occupier | 7.36%p.a. Comparison Rate and 7.69%p.a. for Investor | 7.76%p.a. Comparison Rate).
