Classic Plus Home Loan Overdraft Package

A home or investment line of credit with a competitive variable interest rate.

4.75 % p.a.
$250,000 & above

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$1,000 cash back offer

Get $1,000 cash back when you refinance your home loan with QBANK1. Plus, you’ll receive up to 20% off any new home insurance policy#.

A home or investment line of credit with a competitive variable interest rate.

Classic Plus Overdraft
Product name Owner Occupier

$250,000 & above

4.75 % p.a. Owner Occupier

$100,000-$249,999

4.90 % p.a. Owner Occupier

The Classic Plus home loan overdraft package rewards members with ongoing benefits such as significant savings on borrowings, everyday banking and investments.

At the same time the Classic Plus Overdraft provides the flexibility and freedom to choose when and how you access your loan funds. It's great if you want to have money 'on hand' - for renovations, home additions, holidays or investments.

Features

Line of credit with a competitive interest rate

Access funds up to your approved limit without applying for a new loan

No penalty for extra repayments

Free online redraw

No establishment fees

0.5% discount on personal loans

Personal loan application fee waived

Optional 20% off a new home insurance policy#

Facts

Product facts
Interest Type
Variable
Minimum Loan Amount
$100,000
Additional Repayments
Yes
Repayment Redraw
Yes
Monthly Fee
$25
100% Offset Account
No
Interest Only Available
No
Establishment Fees Waived
Yes
Top-up Loan Available
Yes
Split Loans Available
Yes
Loan To Valuation Ratio (LVR)
Up to 80%
Loan purpose
Owner occupied or investment
Security
Registered first mortgage over residential property
Borrowers
Individual or joint
Construction Loans Available
Yes
Loan Portable
Yes
Repayment Frequency
Weekly, fortnightly or monthly.
Statement Frequency
Monthly
Eligibility
To be eligible members must have their salary credited into a QBANK transaction account and hold a QBANK credit card (subject to approval).

Investor rates

Classic Plus Overdraft
Product name Investment Property

Investor $250,000 & above

4.75 % p.a. Investment Property

Investor $100,000-$249,999

4.90 % p.a. Investment Property

Disclaimer information Expand

^ Valid for 1 and 3 year fixed rate home loan applications of $150,000 or more of new lending up to 90% LVR for investors approved after 3 October 2018 and is available for a limited time only. To qualify, the customer must deposit a salary credit of at least $1,500 a month into a QBANK transaction account. Offer may be withdrawn at any time. Offer not valid for redraw of advance repayments, existing QBANK members switching loans or internal refinances.

~ Applies to owner-occupied loans only. Members will save up to $700 off standard QBANK, valuation, and mortgagee legal fees. Non-standard valuations and mortgages may incur an additional charge. Government charges and a $195 settlement fee still apply ($295 if construction loan).

# The purchase and payment of a new QBE Home, Home Contents, or Landlords policy during the Promotion Period entitles the member to receive a 20% discount or $200 off their insurance premium, whichever is the lesser. Discount applies on first year premium only.

* WARNING: This comparison rate applies only to the example above. Different amounts and terms will result in different comparison rates. Costs such as redraw fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is calculated based on a loan amount of $150,000 over a 25 year term.

1 The $1,000 cashback offer applies to home loan refinance applications between 3 October and 21 December 2018 of $150,000 or more of new lending for both owner occupiers and investors. Applications must be settled within 60 days of the approval date to receive the cashback. Offer may be withdrawn at any time. The offer only applies if the member is refinancing a home loan to QBANK from another financial institution.

3 Additional repayments limited to $10,000 per annum to a maximum of $30,000 in any fixed rate period.

4 Not available on interest only. Fee for paper redraw applies.

6 Valid for 1 and 3 year fixed rate principal and interest home loan applications of $150,000 or more of new lending up to 90% LVR for owner occupiers approved after 3 October 2018 and is available for a limited time only. To qualify, the customer must deposit a salary credit of at least $1,500 a month into a QBANK transaction account. Offer may be withdrawn at any time. Offer not valid for redraw of advance repayments, existing QBANK members switching loans or internal refinances.

7 If further funds are required during the fixed rate term, an additional loan can be established as a split loan.

Normal lending criteria applies. Interest rates current as at 24 October 2018 and are subject to change without notice.

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As a member owned bank, our profits go back to members in the form of award winning products, low rates and low fees. Our credit criteria is tailored around our unique community, those who serve and protect Queensland. We take into account overtime, shift penalties and 100% allowances for those in essential services.