A home loan is likely to be one of the biggest financial commitments you’ll ever make. And also one of the most exciting – if you know which product is the right fit for your property dreams.

Home loan jargon buster

Getting the finance you need for your dream home is a lot easier when you know which loan is right for you. However, if you don’t know your offsets from your interest only, it can be confusing. Our handy guide to home loan jargon will make it easier to choose from our award-winning home loans.


A redraw facility allows you to make extra repayments on your loan and access the money if you need it. Any funds in redraw reduce the balance outstanding on your loan.


Offset is an account, like a transaction account, that’s linked to your mortgage balance. Your home loan interest payments are calculated on your mortgage balance, minus the balance in your offset account. This can deliver significant interest savings. For example, generally speaking, if you owe $300,000 but have $100,000 in your offset account, you’ll pay interest on $200,000. You do not generally earn interest on the funds in your offset account.

Split Loan

This is when you split a loan into multiple accounts, part fixed and part variable. This can be used to spread the risk of interest rates, using the fixed part to create certainty and the variable component to take advantage of rate changes. However, variable rates can go up as well as down, depending on a number of external factors.

Interest Only

During an interest only period you only pay interest, not principal and therefore your interest only repayments will not reduce your loan balance. It’s important to remember that this may mean you pay more interest over the life of the loan. Interest only periods are usually only available for set periods, i.e. 1, 2 or 5 years.

Home loan options for everyone

Here are some of Qudos Bank’s most popular, and award-winning, home loans.

No Frills Home Loan

This low rate home loan is exactly as its name suggests and may be suitable if you just want a low interest rate and you don’t need an offset account. If offers:

  • A highly competitive interest rate
  • No application fees
  • No bank fees

Low Cost Home Loan

This loan may be worth thinking about if you’re looking at refinancing or buying an investment property. It includes:

  • $0 bank fees for established homes
  • Competitive interest rate
  • 100% offset account
  • Redraw facility
  • Unlimited extra repayments.

Qantas Points Home Loan

A home loan for anyone who loves to travel, and use their Qantas Points to do so.

  • You’ll earn 150 Qantas Points* per annum for every $1000 of your loan balance, credited monthly.
  • Use the rewards calculator to find out if this loan is right for you.

Low Cost Home Loan Value Package

Designed for those who want all the bells and whistles, for an annual fee of $395, this award winner offers all the benefits of our Low cost home loan, but with extras including:

  • Visa Platinum Credit Card Annual fee waiver ($249)**
  • Up to 12 months Allianz insurance cover for the price of 11 months^
  • Up to 90 days' free buildings cover during settlement period^^
  • 100% offset account
  • Instant online banking redraw
  • 0.10%p.a. interest on selected term deposit accounts~
  • Complimentary meeting with a financial planners (valued at $55)~~

Fixed Rate Home Loan

A fixed rate home loan locks your interest rate for a set amount of time, which means budgeting is easier because you know what your repayments will be. Our fixed rate loan offers:

  • 1, 2, 3, 4 and 5 year terms
  • $0 bank fees
  • Extra repayments up to $10,000 a year

Home Access Loan

This loan may work for you if you’d like access to a line of credit secured against your property to use for:

  • Renovations
  • Investing
  • Holidays
  • Life’s unexpected expenses.

Construction Loan

Looking to refinance for that investment property you’ve had your eye on, or for a knock down and rebuild, or major renovation? This loan could be for you.

  • Withdraw funds in stages as receive process payments from builders and tradespeople
  • Only pay interest on funds drawn down
  • Add an offset account if you like
  • Establishment fee of $600 applies
  • Interest only repayments are for the construction period* only. Principal and interest repayments apply for the rest of the loan term.

* Up to the date the final progress payment is made or 12 months from the date we first advance money to you, whichever is earliest.

Your home loan toolkit

Don’t decide on any home loan product until you’ve done your research. Consider using online calculators to do a mortgage comparison, and compare home loan rates. You can get started with our:


Learn more



Qudos Mutual Limited trading as Qudos Bank ABN 53 087 650 557 AFSL/Australian Credit Licence 238 305. The information in this article is of a general nature and has been prepared without considering your objectives, financial situation or needs.

Qudos Mutual Limited trading as Qudos Bank ABN 53 087 650 557 AFSL/Australian Credit Licence 238 305. The information in this article is of a general nature and has been prepared without considering your objectives, financial situation or needs. Before acting on the information, consider its appropriateness to your circumstances.

Loans are subject to approval. Normal lending criteria, terms and conditions and fees and charges apply. Mortgage insurance is required for home loans over 80% and is subject to approval.

* Qantas Points accrue in accordance with and subject to the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. A joining fee may apply, however, Qudos Bank has arranged to provide Qantas Frequent Flyer membership with the joining fee waived to Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.

** Waived annually whilst signed up to the Value Package. Only available for one Visa Platinum Credit Card per Value Package.

^ Offer valid for new Allianz Home and Motor insurance policies purchased through Qudos Bank from 23/04/18 to 23/04/19. Available only for policies purchased in-branch or via the contact centre and cannot be used in conjunction with any other offer. Offer applies to standard rates (excluding optional covers) and is for the first year’s premium only (unless stated otherwise). Other discounts may apply to insurance purchased via other methods. This insurance is underwritten by Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850, ASFL 234 708. Qudos Bank arranges this insurance as an agent for Allianz not as your agent. A Product Disclosure Statement (PDS) is available by calling 1300 747 747. Any advice here does not take into consideration your objectives, financial situation or needs, which you should consider before acting on our recommendations. You should read and consider the PDS and Financial Services Guide (FSG) before deciding whether to acquire any product mentioned. We receive commission on these insurance products as a percentage of the premium paid for each policy ranging between 10–30%. Ask us for more details. To see the PDS, please visit qudosbank.com.au. Alternatively, to have the PDS sent out to you call us on 1300 747 747.

^^ Up to 90 days’ free buildings cover during your settlement period - The offer of free buildings cover must be used in conjunction with the purchase of a residential home and the purchase of a twelve (12) month Home Insurance Policy for that property which includes buildings cover. It is not available to land-only ownership or Strata Title properties. This insurance is subject to normal underwriting terms and is offered subject to your eligibility for home insurance with the insurer. You must consider whether you need insurance for your settlement period as this varies from state to state and may depend on the terms of your contract for sale of property. Please seek independent advice to ensure that you are adequately covered at the appropriate time. By purchasing a twelve (12) month home insurance policy (including buildings cover), your policy will include an additional free cover period for your building(s) of up to a maximum of 90 days before the start date of your twelve month policy. The free cover period effective date and expiry date will be shown in your policy schedule. The expiry date will be the settlement date nominated by you, which cannot exceed the ninetieth (90th) day from the start of the free cover period. The twelve (12) month period of insurance under your home insurance policy will commence immediately following the expiry of the free cover period. Once the policy is purchased, the expiry date of your free buildings cover and the commencement date of your twelve (12) month insurance policy cannot be changed unless agreed to by Allianz in writing. The terms, conditions, limits and exclusions in your home insurance policy (which are set out in the Product Disclosure Statement and policy schedule) will apply to the free cover period. These include, but are not limited to, ’Buildings not lived in for more than 60 days’, ‘taking precautions’ and ‘security devices and burglar alarms.’

~ Rate applies to term deposits during the term of your Low Cost Home Loan (Value Package). Specific terms and minimum amounts apply. See the Value Package Terms and Conditions for more details. Interest paid on maturity. Not applicable to special rate term deposits.

~~ All Financial Planners are Authorised Representatives and provide advice under the authority of ClearView Financial Advice Pty Ltd, ABN 89 133 593 012, AFSL 331 367. As the information on this page is of a general nature and has been prepared without considering your objectives, financial situation or needs, before acting on the information, consider its appropriateness to your circumstances. You should read any relevant product disclosure statement, our Financial Services Guide and ClearView’s Financial Services Guide before deciding to acquire or hold any product. Further information on how ClearView handles your personal information is explained in the ClearView Privacy Policy. Qudos Bank receives commission for referrals to ClearView, refer to Qudos Bank’s Financial Services Guide (“FSG”) for more information. These documents are available on our website or by calling 1300 747 747.

You should read and consider the relevant Terms and Conditions and our Financial Services Guide available on our website qudosbank.com.au, before deciding whether to obtain any of our financial products or services.

 Published May 2019