FAQs for loans

You are eligible to apply for a loan if you are over 18 years of age and are a permanent resident of Australia and currently residing in Australia. If you are not an existing Queensland Country Member, it is necessary to become a Member before the loan is funded.

In order to assess your loan application, we require:

• income verification
• savings history
• 3-6 months statements of all debts
• contract of sale (if purchasing a property)
• quote from car yard (if purchasing vehicle)

Read more on applying for a home loan.

How long does it take to get a loan or visa application approved?

For a basic loan where all required information has been provided, normally 24-48 hours.

We need to see 6 months of the most recent statements. Read more on our home loans.

We can still assess your loan application as long as your position is in the same industry as your previous employment and/or you have letter from your employer stating your employment will be guaranteed after probation is completed.

We calculate your repayments using a ‘Constant Repayment method’ which means that when the interest rates go up or down, the length of the loan changes and not the repayment. This is a great benefit as it means your repayments will always stay the same.

We need to see the statements to verify payments and to check the facility is up to date. We also need to check the debt is being serviced in a good manner and there are no current arrears.

No. Genuine savings is required. However you can use funds from other sources to help with your deposit. If you’d like to discuss buying your first home with your closest Branch Manager, simply make an appointment and we’ll contact you.

No. Only variable rates are offered on personal loans.

There is currently no early payout penalty. For a home loan, a fee applies if you refinance with another financial institution within the first three years after establishment.  This fee covers our costs of establishing the loan.

Yes. Queensland Country can provide funds progressively as long as the accounts to be paid are invoiced. Please talk to one of our lending professionals regarding the timing of payments.

Read more about our line of credit.

Yes, you can buy the land now and begin to pay it off without building on it.  Read more about our vacant land loan.

We have some great loan calculators on our website which will give you a rough indication of how much you might be able to borrow.

To discuss with us how much you can borrow, you can:

• Make an appointment with one of our local Branch Managers or our other lending specialists in branch.
• Call us on 1800 075 086
• Meet with our Mobile Lenders based in Townsville (this is for the Townsville area only). They can visit you 7 days a week at a place convenient to you. Just call them on 0407 722 800 or email info@qccu.com.au.

For a home loan, the cost of buying a home section on our website will help give you an idea of the approximate costs.
Please talk to one of our lending professionals on 1800 075 078 for a quote on fees, or simply read our fees and charges brochure.

In some cases you will be able to add additional costs to your loan.

Yes. We can lend your extra for renovation provided you have sufficient equity in your property for the amount you are looking to borrow.

Read more about our home equity loan.

You can make repayments at any time including weekly, fortnightly or monthly, provided your minimum monthly repayment amount has been paid into the loan by the due date.

Yes, you can make extra repayments as often as you like.

When buying a property when do I need to take out an insurance policy?

As soon as you sign a contract to purchase a house you are liable for any insurance claims so it is a good idea to take out home insurance as soon as you sign the contract.

You will need to insure the property as soon as it is handed over to you (i.e. when you have made the final payment). The building contractor should have insurance until you make the final progress payment. At this stage you are responsible for insuring the property.

Your loan approval is valid for three months from the date the approval is provided, as long as the details provided on your original application have not changed (e.g. you are still with the same employer).

We need to see your profit and loss statements for the past two years, your latest tax return, and all other normal documentation.

Read more about our business overdrafts.