Bank of Queensland home loan review
Bank of Queensland is an established Australian lender, and Ratesniffers tracks 40 of its home loan products across variable, fixed and interest-only options. Its lowest variable rate Ratesniffers tracks is 5.93% p.a., and its lowest fixed rate is 6.24% p.a. That sits about 26 basis points below the market median of 6.19% p.a., putting it among the more competitive lenders right now.
Is Bank of Queensland a good home loan lender?
Bank of Queensland suits borrowers taking new lending who want an offset and a high published LVR ceiling. Ratesniffers checked its published home loan and product pages on 3 Sept 2026. The trade-off is the Clear Path loan's $10 monthly fee, its single offset account, and that it is closed to refinances of existing BOQ lending.
What we looked at
Ratesniffers ranked and described this lender from the verified rate snapshot on this page, then read the lender's own published product pages and fee documents listed under Sources below. Sources were checked on 3 Sept 2026. There are no scores, no stars and no user reviews here, only what the lender publishes and what the snapshot shows.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment 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 based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Bank of Queensland home loan interest rates by term
The lowest owner-occupier, principal and interest rate Bank of Queensland has published per term, from the same rate snapshot as the panel above.
| Term | Interest rate | Comparison rate |
|---|---|---|
| 2-year fixed | 6.24% p.a. | Not available |
| 3-year fixed | 6.29% p.a. | Not available |
| 5-year fixed | 6.79% p.a. | Not available |
The case for
- Its sharpest variable rate sits below the market median of 6.19% p.a. in the rate snapshot on this page.
- The Clear Path Variable Home Loan carries no application fee and includes one free valuation per home loan application.
- Clear Path publishes LVR tiers to 95% on principal and interest and 90% on interest only, with construction to 90% inclusive of lenders mortgage insurance.
- A 100% mortgage offset account can be linked to Clear Path in personal names, and split loans are available.
- Redraw is free through Internet Banking with a $100 minimum withdrawal, and extra repayments are unlimited on the Economy Variable Home Loan.
- Fixed terms run from 2 to 5 years, interest only is available for up to 5 years subject to approval, and repayments can be weekly, fortnightly or monthly.
What to weigh up
- Clear Path charges a $10 monthly fee, taken on each repayment date, plus a $150 settlement fee.
- Clear Path is for new and existing customers taking new lending only, and is not available for the refinance or restructure of existing BOQ lending.
- The Clear Path offset is a single mortgage offset account and is available in personal names only, so company and trust borrowers sit outside it.
- Redraw carries a $100 minimum withdrawal, so smaller amounts cannot be pulled back out.
- BOQ Group also owns ME Bank, which prices separately, so a BOQ quote is not the group's only price.
Who Bank of Queensland suits and who it does not
Bank of Queensland tends to suit a borrower taking new lending who wants a regional bank alternative with an offset account and a high published LVR ceiling, up to 95% on principal and interest. It suits less well for a refinance or restructure of existing BOQ lending, which Clear Path excludes, for company or trust borrowers who want the offset, which is personal names only, or for anyone who wants more than one offset account against the loan. Comparing BOQ against ME Bank inside the same group is worth doing before choosing.
Bank of Queensland home loans: our verdict
Bank of Queensland is a credible choice whose lowest variable rate of 5.93% p.a. currently sits about 26 basis points below the market median, which is competitive today (last updated 23 Sept 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.
Sources checked 3 Sept 2026: BOQ, Home loans; BOQ, Clear Path Variable Home Loan; ME Bank, Home loans (BOQ Group ownership). Fees and product terms change, so confirm them with Bank of Queensland before applying.
See if you can do better than Bank of Queensland
The advertised rate isn't always the rate you'll be approved for. Compare Bank of Queensland against the wider panel, or have your scenario negotiated, at no cost.