Qudos Bank is one of Australia’s largest customer-owned banks with over $5 billion in assets and branches in Sydney, Melbourne and Brisbane. Founded in 1959 as Qantas Credit Union, it has been customer-owned for over 60 years. Offering a full range of products including home loans, personal loans, savings accounts and credit cards, customers benefit from competitive rates and low fees.
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Qudos Bank home loans
Why choose Qudos Bank
Benefits
- Below-average interest rates
- Wide range of home loan products
- Wide range of loan features
Drawbacks
- Limited branch access
- Upfront fees may apply
- Ongoing fees may apply
Qudos Bank Home Loans
Interest Rate
Comparison Rate*
Repayment
7.39%
p.a
Variable
7.04%
p.a
$2,155
monthly
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Product
Low Cost Home Loan (Value Package)
Features
Winner of Best Home Loans Over 1m, RateCity Gold Awards 2023
Interest Rate
Comparison Rate*
Repayment
5.89%
p.a
Variable
6.08%
p.a
$2,232
monthly
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Interest Rate
Comparison Rate*
Repayment
5.79%
p.a
Variable
5.79%
p.a
$2,210
monthly
Go to site
Interest Rate
Comparison Rate*
Repayment
5.69%
p.a
Variable
5.69%
p.a
$2,189
monthly
Go to site
Home Loans calculator
Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios.
Your estimated mortgage repayments
at interest rate 5.69%
Total interest payable
$0
Total loan repayments
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Qudos Bank customer service
Qudos Bank customers are able to phone a number of specialised phone lines that cover general member enquiries, financial planning andinsurance services. There is also a line for those experiencing financial hardship. Customers can also contact the bank via email, online or visit a branch.
- Customer service centre (phone)
- Mobile app
- Online banking
- Branch
How to Apply
Potential Qudos Bank home loan customers can apply for a loan in a number of ways. Customers can make an in-person or Skype appointment with a Qudos Bank employee, or apply online using the online application form on the bank’s website. They can also apply in person at a Qudos Bank branch or by phone. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:
- Personal identification material.
- Proof of income and employment.
- Proof of other assets, income and earnings.
- Details on current debts, loans and liabilities.
- Personal insurance documents.
About Qudos home loans
Qudos Bank is a challenger lender that aims to outcompete the big four banks on price and customer service.
Qudos Bank provides home loans to both owner-occupiers and investors, including first home buyers and refinancers.
Qudos offers no-frills home loans, full-featured home loans, low-deposit home loans and line-of-credit home loans.
Borrowers can choose between variable interest rates and fixed interest rates, and also have the option of paying principal and interest or interest only.
Depending on which loan they choose, borrowers can also get:
- Offset accounts
- Redraw facilities
- Unlimited extra repayments
- No upfront fees
- No ongoing fees
- Qantas points
- Insurance discounts
Compared to the rest of the market, Qudos Bank’s interest rates and fees tend to range from very low to moderate.
Borrowers can apply for Qudos Bank home loans in-branch or over the internet.
Qudos home loan rates
Qudos Bank mortgage rates tend to range from very low to moderate, although they differ from loan to loan and borrower to borrower.
As a general rule, borrowers receive lower interest rates if they’re owner-occupiers, pay principal and interest and have a deposit of at least 20 per cent.
Conversely, borrowers generally receive higher interest rates if they’re investors, pay interest only and have a deposit of under 20 per cent.
Also, Qudos Bank’s no-frills and packaged home loans tend to come with lower interest rates than their other mortgage products.
Qudos Bank interest rates can be fixed or variable. Qudos also offers borrowers the option of ‘split loans’ – mortgages that are part fixed and part variable.
Qudos home loans review
Qudos Bank is a challenger bank that tends to offer lower interest rates and lower fees than the average home loan lender, with pricing ranging from very low to moderate.
Qudos may be a good option for borrowers who want a competitive alternative to Australia’s big four banks.
The lender, which has branches in four states, caters to the full range of home loan customers:
- Owner-occupiers
- Investors
- First home buyers
- Upgraders
- Refinancers
Qudos also offers a range of mortgage options:
- No-frills home loans
- Full-featured home loans
- Low-deposit home loans
- Line-of-credit home loans
Qudos mortgages have maximum terms of 30 years, and include various interest and repayment options:
- Variable rates
- Fixed rates
- Split loans (part variable, part fixed)
- Principal and interest
- Interest-only
Each home loan product has different features, but options include:
- Offset accounts
- Redraw facilities
- Unlimited extra repayments
- No upfront fees
- No ongoing fees
- Qantas points
- Insurance discounts