Bank of Queensland Limited home loan review

Updated 31 May 2026

Bank of Queensland Limited is an established Australian lender, and Ratesniffers tracks 8 of its home loan products across variable, fixed and interest-only options. Its lowest variable rate Ratesniffers tracks is 6.03% p.a., and its lowest fixed rate is 6.19% p.a. That sits about 6 basis points below the market median of 6.09% p.a., putting it among the more competitive lenders right now.

Products tracked

Lowest variable

6.03%

Lowest fixed

6.19%

Lowest comparison

6.07%

The case for

Its sharpest variable rate sits below the market median of 6.09% p.a. today.
Offset accounts are available on at least some products, which can cut interest on your savings.
Extra repayments are allowed on at least some products, letting you pay down faster.
Redraw is available on at least some products, so extra repayments stay accessible.
A cashback offer is currently running on at least one product, worth weighing against the rate.
Ratesniffers tracks 8 of its products and refreshes the rates daily.

What to weigh up

The advertised rate isn't always the rate you'll be approved for, so it can depend heavily on your deposit and profile.
Fees and conditions vary by product, so the headline rate alone doesn't tell you the true cost.

Who Bank of Queensland Limited suits

Bank of Queensland Limited tends to suit anyone who'll keep a healthy balance in an offset account. As always, the right loan depends on your deposit, your purpose, and the features you'll actually use, so compare it against the wider panel before you commit.

Who should look elsewhere

You may do better elsewhere if the advertised rate may not be the rate you're approved for once your deposit and profile are assessed. If your deposit is small, you're an investor, or you want interest-only, the rate Bank of Queensland Limited actually offers can be higher than the headline, so it's worth comparing the wider market before deciding.

Key features Bank of Queensland Limited offers

Offset account on at least some products
Redraw facility on at least some products
Extra repayments on at least some products
A cashback offer currently running on at least one product

Features vary by product. Confirm the exact terms on the loan you apply for, as not every Bank of Queensland Limited product carries every feature.

Is Bank of Queensland Limited a good home loan?

Bank of Queensland Limited is a credible choice whose lowest variable rate of 6.03% p.a. currently sits about 6 basis points below the market median, which is competitive today (last updated 31 May 2026). Whether it's right for you comes down to your deposit, the features you'll use, and how its real approved rate compares, so treat the headline as a starting point, not the final answer.

See if you can do better than Bank of Queensland Limited

The advertised rate isn't always the rate you'll be approved for. Compare Bank of Queensland Limited against the wider panel, or have your scenario negotiated, at no cost.

See Bank of Queensland Limited rates

Bank of Queensland Limited home loans: frequently asked questions

Is Bank of Queensland Limited a good home loan?

Bank of Queensland Limited is a credible option whose lowest variable rate is 6.03% and lowest fixed rate is 6.19% p.a. (updated 31 May 2026). Whether it's right for you depends on your deposit, the features you'll use, and how its approved rate compares to the wider market, so treat the headline as a starting point.

How do Bank of Queensland Limited's home loan rates compare to the market?

Bank of Queensland Limited's sharpest variable rate currently sits about 6 basis points below the market median of 6.09% p.a., which is competitive today. This is computed daily from the live rates across the lenders Ratesniffers tracks, so it reflects where Bank of Queensland Limited stands right now rather than a fixed snapshot.

Does Bank of Queensland Limited offer an offset account?

Yes, an offset account is available on at least some Bank of Queensland Limited products. An offset only saves interest on the balance you keep in it, so it's worth most when you hold a steady amount; confirm it's included on the specific product you apply for.

Is Bank of Queensland Limited good for refinancing?

It depends on your loan size and equity. Bank of Queensland Limited's lowest comparison rate is currently 6.07% p.a., worth checking against the wider market before you switch. On a $500,000 loan, even a 0.30% p.a. difference is roughly $100 a month, so comparing Bank of Queensland Limited against the sharpest available rate usually pays off.

How often is this Bank of Queensland Limited review updated?

The rate figures in this review are refreshed daily and this page was last updated 31 May 2026. The pros, cons and verdict are built from the live products Ratesniffers tracks, so they move with Bank of Queensland Limited's rates rather than staying a static snapshot.

Compare Bank of Queensland Limited another way

Same panel, sliced by what borrowers actually search for.

Read before you decide

The traps the advertised rate doesn't show.