No Frills home loan

If you are looking for a highly competitive interest rate with no application fees or bank fees, and you don’t need an offset account, then this may be the home loan for you.

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  No Frills Home Loan Low Cost Home Loan Fixed Rate Home Loan
Interest type Owner Occupied & Investment Owner Occupied & Investment Owner Occupied & Investment
Interest rate 2.99% p.a.    
Comparison rate 2.99% p.a.    
Annual fee $0 $0 $0
100% offset available No Yes No
Redraw available Yes Yes No
Interest-only available Yes Yes Yes
  2.29% p.a.      
  2.29% p.a.      
  From 2.29% p.a.  ^    

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See what our customers think about their experience

Excellent Service - Kudos to Qudos

"I have been with Qudos for a very long time and recently wanted to re-mortgage my house to do some home improvements. The application process was straight forward and the staff member I dealt with (Zac) was very helpful. Excellent work, Kudos to Quods :-)"


Fantastic home loan customer service

"Sam from the lending team was amazing. So helpful throughout the whole process of exploring loan options and getting me through to purchasing a house smoothly and stress free! I've been with Qudos for 5 years with multiple products and they give Customer service you won't get from the big banks"



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  • 1 Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for applications received from 29 November 2021​​ for loan amounts over $150,000. Minimum deposit of 20%. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the variable rate reverts to the interest rate applicable to a new principal and interest No Frills home loan with a deposit or equity of 20% or more, currently 2.29% for owner occupied loans and 2.84% for investment loans. Interest only available for 1 to 5 years and is subject to approval. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
  • 2 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. Our comparison rate assumes a loan of $150,000 for 25 years. For interest only loans, the comparison rate is based on a 5-year interest only period, reverting to the interest rate applicable to a principal and interest loan with a deposit of 20% or more for the relevant purpose.
  • 3 Rates displayed above are available for applications received from 25 February 2022​​ for loan amounts over $150,000. Minimum deposit of 10%. Fixed rate may change prior to funding. On expiration of the fixed rate period, the interest rate reverts to a variable rate currently 2.49% for Owner Occupier and 3.04% for Investment home loans. Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time.

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.

3. 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 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 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.

4. Offer valid for new Allianz Home and Contents insurance policies purchased through Qudos Bank branches or via the Qudos Bank 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). Minimum premiums may apply. Any discounts / entitlements may be subject to rounding and only apply to the extent any minimum premium is not reached. Other discounts may apply to insurance purchased via other methods.

Qudos Bank arranges this insurance as an agent for Allianz Australia Insurance Limited ABN 15 000 122 850, ASFL No. 234 708. Any advice here does not take into consideration your objectives, financial situation or needs, which you should consider before acting on our recommendations. Before deciding to acquire this insurance, please read the relevant Product Disclosure Statement (PDS), our Financial Services Guide and the Allianz Financial Services Guide. To see the PDS please click on the relevant insurance product PDS: or to have the PDS sent out to you, call us on 1300 747 747. We receive commission on these insurance products as a percentage of the premium paid for each policy ranging between 10–30%. See our FSG or ask us for more details.

5. Rate applies to term deposits account opened during the term of your Qantas Points Home Loan. Special terms of 3, 6, 9 and 12 months are available and are upon request.

6. 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.

Qudos Bank is the issuer, offeror and administrator of the Qudos Bank Qantas Points Banking products and is a credit provider and credit licensee under National Consumer Credit laws.

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

Rates current as at 17 November 2020.