Bank of Queensland (BOQ) is one of Australia's oldest regional banks which prides itself on its business structure, with most branches being run by local owner-managers.
BOQ has been helping Aussies with their finances since 1874 and now has over 159 branches across Australia. It remains one of the major competitors to the big four banks.
As one of Australia’s largest challenger banks, BOQ also owns and operates Virgin Money Home Loans, and ME Bank.
Colin Li, the bank’s Head of Retail Product - Home Buying, told savings.com.au BOQ believes Australians should have choice when it comes to their money.
“Our mission is to provide our customers with a compelling alternative to the big banks,” Mr Li said.
“Two-thirds of our branches are operated by owner managers, who are small business owners themselves and challenge the way Australians experience banking.
“Our innovative owner manager operating model ensures our communities are provided with the security of a national bank, coupled with local know-how and a personalised experience with a banker who is with them for the long haul.”
Check out some of BOQ’s home loans for owner occupiers in the table below.
Loan purpose Loan amountLump Sum Repayment
Split Loan Option
Principal & Interest Principal & Interest Principal & Interest Interest-only Principal & Interest Principal & Interest Principal & Interest Principal & Interest Interest-only Principal & Interest Principal & Interest Principal & Interest Interest-only Principal & Interest Interest-only Principal & Interest Principal & Interest Interest-only Interest-only Principal & Interest Principal & Interest Principal & Interest Principal & Interest Principal & Interest Principal & Interest Principal & Interest Principal & Interest Interest-only Interest-only Principal & Interest Interest-only Interest-only Principal & Interest Principal & Interest Principal & Interest Principal & Interest Interest-only Interest-only Interest-only Interest-only Principal & Interest Interest-only Interest-only Interest-only Principal & Interest Principal & Interest Interest-only Interest-only Principal & Interest Interest-only Principal & Interest Interest-only Interest-only Principal & Interest Interest-only Important Information and Comparison Rate WarningImportant Information and Comparison Rate Warning
Mr Li said at BOQ staff are passionate about helping customers reach their financial goals.
“We offer competitive discounts on our interest rates across basic and full featured products, which are often lower than the major banks, and for borrowers looking for a basic loan to purchase a home, we currently offer our lowest ever advertised rate on our Economy Home Loan,” he said.
“We know it’s important to our customers to keep ongoing expenses low, which is why most of our home loan products have no application fees and a low $10 monthly fee.
“In addition to this, customers can take advantage the offset facility feature on our clear path variable home loan to reduce the interest they pay on their loans.
“We also understand the decision to refinance is a major one, so we seek to provide every advantage to customers choosing to do so with us. We offer additional savings to customers refinancing to BOQ with a $3,000 cashback to assist them in the process.”
Mr Li said BOQ has a number of home loan features with some ‘fantastic’ benefits our customers can take advantage of including:
Mr Li said BOQ two-thirds of branches are operated by owner-managers.
“As small business owners themselves, they have a unique understanding of our customers’ needs,” he said.
“We pride ourselves on building long-term customer relationships that are based on mutual respect and understanding.
“We’re passionate about helping customers achieve their financial goals with our competitive rates, low fees, flexible home loan features and offers.”
To begin an application, you will need the following things:
To be eligible for a BOQ home loan you must:
Image by Luisa Denu via Unsplash
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Aaron joined Savings.com.au in 2021. He is a finance journalist with a keen interest in property, the share market, and improving financial literacy in young Australians.
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