Qudos Bank has carefully considered many factors including the recent decision by the Reserve Bank to increase interest rates when making this decision. It's a decision not made lightly, and we understand the pressure households are facing with cost-of-living increases.
You can read our blog on ways to help you manage the rising cost of living.
Qudos Bank always advertises its best rate for new borrowers on our website. We don’t negotiate as we always advertise our best rates. If your existing loan is not one of our advertised rates, we can review it for you.
Several factors are considered when determining an interest rate. These factors are considered when you are provided credit, for example the loan to value ratio of your loan at the time of settlement.
Yes. Sometimes our needs change. For example, if you're currently using a loan that has an offset facility and your loan no longer need this, you could consider switching to a lower rate without this feature like our No Frills Home Loan. Contact information for our Financial Hardships team can be found here or you can send us a Secure Mail to Hardship Assistance via Online Banking or the Mobile App.
All interest rate changes affect the repayments. If the rate increases, then the repayment will also increase. The same applies when rates decrease. All borrowers will receive a letter advising them of the new repayment amount.
If you are experiencing financial hardship, we are here to help. Contact information for our Financial Hardships team can be found here. Or you can send us a Secure Mail to Hardship Assistance via Online Banking or the Mobile App.
Absolutely. We can put you in touch with one of our Lending Specialists to review your loans. To start the process, you can fill out our Home Loan Enquiry form on our website.
All interest rate changes are reflected on your loan statements that we send to you, in addition to your interest rate change notice letter.
If you require copies of these statements, you can request them, however, there may be a cost to reproduce these for you.
Qudos Bank always advertises our best rates on our website for new Home Lending. If you're on a different rate to this, we can consider your rate based on the conditions and parameters that apply to your loan.
Our variable interest rate will change on November 23, 2023
Paying extra repayments reduces the interest you end up paying on your loan and is always a good idea if you have extra cash available. See our extra repayment calculator.
Qudos Bank has a Financial Hardship team available to discuss options if you find yourself under financial stress. If you're worried about your financial situation, please call us on 1300 747 747, send us a Secure Mail within Online Banking or alternatively:
Email: [email protected]
Fax: (02) 9582 3452
Mail: Qudos Bank, Locked Bag 5020 Mascot NSW 1460
After speaking with one of our team members you'll be asked to complete our Financial Hardship Relief Application Form.
Absolutely. Qudos Bank can assist you in making the switch to a suitable fixed-term product. You can also read our blog on reason why you might want to fix your home loan.