First Start Home Loan

Perfect for first home buyers

Buying your first home doesn't need to be hard. With the First Start Home Loan, you'll receive a great discount on our Standard Variable Rate for the first 12 months and the flexibility of weekly, fortnightly or monthly repayments. There's also plenty of great features to help you get started with your first home loan, including a mortgage offset account and free redraw. Why not chat to us today about your first home loan?


How to apply

Features and benefits

Interest Rate1% p.a. below the Standard Variable Housing Rate for the first 12 months, after which the Standard Variable Housing Rate will apply.
Loan TermMaximum 30 years
Minimum loan amountNo Minimum
Maximum loan amount95% of property value*
Repayment Type
  • Principal and interest
  • Interest Only (maximum 5 years; subject to approval)
Repayment Options
  • Weekly
  • Fortnightly
  • Monthly
Additional repaymentsYes - unlimited 
RedrawYes - minimum $100. Available through Internet Banking subject to approval
100% Mortgage Offset facilityYes
Internet BankingYes
EasyPhone BankingYes


*Requires mortgage insurance if the amount borrowed is more than 80% of the valuation of the security property. 

First Home Loan Interest rates


Interest rate
Reference rateStandard variable housing rate
Product discount1.00% p.a. below the applicable reference rate for the first 12 months, after which the applicable reference rate will apply.
Current rateThe current rates are available on the Today's rates page

Fees and charges

Application fee


Monthly Fee

$10.00 each month

Fee Savings

nominate one of your Reverse Charges AccountTM to be free of monthly account maintenance fees.

How to apply

Important Information

Please view the terms and conditions listed below and on the Terms and Conditions page:

Valuation fees are payable.  Government fees and charges apply.  Fees and charges are payable.  Normal credit assessment criteria apply.  Full terms and conditions are available at any Bank of Queensland branch.  Interest rates quoted are indicative only, and are subject to change without notice.