flagFounded: 1965

businessOwned by: Customer Owned Bank

monetization_onFunded by: Retail deposits and wholesale capital markets

securityLMI Provider:

account_balanceLender type: Customer-Owned Bank


RACQ Bank is not an available lender on our panel. This is a review only.

RACQ Bank is customer owned, with branches across Queensland. Its services range from bank accounts and credit cards to home loans, business loans, insurance products and car loans.

Formed as the Queensland Teachers’ Credit Union in 1965, it became the QT Mutual Bank in 2011 and then launched as RACQ Bank in 2017.

How do RACQ Bank’s home loans compare?


  • Can borrow up to 95% with the RACQ Mortgage Saver Special
  • Discounted rates for members
  • Flexible repayment options
  • Construction loans
  • Option to split variable and fixed loan
  • 100% Offset Account available
  • Offers home and content insurance
  • Includes Membership to RACQ (roadside assistance in Queensland)


What home loan types does RACQ Bank have?

RACQ Bank offers five home loans, including products for owner-occupiers and investors.

Owner-occupier home loans

RACQ Bank provides three types of home loans for owner-occupiers. The most feature-packed is the Mortgage Breaker, offering variable rates with redraw, split and offset facilities.

The other two owner-occupier packages, Mortgage Saver and Fixed Rate, are tailor-made for first-home buyers. Both offer the option to split loans.

Investment home loans

RACQ Bank offers two similarly named packages for investment home loans: Mortgage Breaker and Fixed Rate. However, the interest rate for investors is higher, compared with owner-occupier home loans.

Tips for applying with RACQ Bank

You can look for a suitable home loan by browsing through the RACQ website.

Once you find one, you can either enquire with an expert or apply online.

Compare RACQ Bank with other lenders

Still not sure which is the right lender for you? Talk to one of our specialist mortgage brokers at Home Loan Experts.

Alternatively, you can give us a call on 1300 889 743 or fill in our free online enquiry form.