Finty
Qudos Bank

Qudos Bank No Frills Home Loan

Variable rateRedraw

A home loan from Qudos Bank with variable rates from 6.38% a year.

Written byDavid Boyd
Interest rate a year, from
6.38%
Comparison rate
6.38%
Upfront fees
None
Annual fee
None
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 6.38% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,745
Total repayments
$1,348,265
Interest
$748,265

Rates

Every rate Qudos Bank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 70%6.38%6.38%
VariableLive inPrincipal and interest70.00999999999999% to 80%6.39%6.39%
VariableLive inInterest onlyUp to 70%6.63%6.49%
VariableLive inInterest only70.00999999999999% to 80%6.64%6.50%
VariableInvestmentPrincipal and interestUp to 70%6.59%6.59%
VariableInvestmentPrincipal and interest70.00999999999999% to 80%6.59%6.59%
VariableInvestmentInterest onlyUp to 70%6.84%6.70%
VariableInvestmentInterest only70.00999999999999% to 80%6.84%6.70%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
None
Annual fee
None
Monthly fee
Not published

Features

Offset account
No
Redraw
Yes
Highest LVR
80%
Loan amount
From $150,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

6.39%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.39%

For the same rate. Typical is 6.70%.

Upfront fees

None

Typical upfront fees are $600.

Annual fee

None

A typical annual fee is $350.

Smallest deposit

20%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • No upfront fees. Less cash needed at settlement.
  • No annual fee. Nothing extra to pay each year over the life of the loan.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.

Cons

  • No offset account. Your savings can't reduce the interest unless you pay them into the loan.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.