Loans

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Who is eligible to apply for a loan?

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.

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What do I need to bring in when applying for a loan?

In order to assess your loan application, we require:

  • income verification
  • savings history
  • 3-6 months statements of all debts

Listed below are some of the things we may need to look at during the application. The more information you can provide to us when you make your application, the faster we’re able to approve your loan.

Personal identification

Birth Certificate (in English) | Passport | Australian driver's licence

Credit Card | Rates notice | Utility bills (telephone, electricity, etc.)

Proof of Income

A payslip for the last four weeks or last two years income tax returns and assessments.

If you are self-employed we need your latest tax return, along with your profit and loss statements and balance sheets for the past two years.

Proof of Savings

Account statements

Records of what you owe

Statements of credit cards, store charge cards, or any current debts or loans for the previous 6 months.

Details of what you own

Include other property, furniture, vehicles, life insurance and other major assets.

Details of your purchase

  • quote from car yard (if purchasing vehicle)
  • details of the property (if you're buying a house)

If you've already begun the purchase of a property

  • Copy of the Contract of Sale
  • Copy of your receipt for any deposit paid
  • Copy of plans and specifications
  • Building quotes
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How long does it take to get a personal loan application approved?

For a basic personal loan where all required information has been provided, we can normally give you a response within 1-2 business days.

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If I am on probation with my place of employment can I get a loan approved?

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.

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Why do I need to show 6 months statements on my existing debts when the payments come out of my Queensland Country account?

Even if your repayments come out of your Queensland Country account, if your debt is with another financial institution 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.

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Can I have a fixed rate on a personal loan?

No. Only variable rates are offered on personal loans.

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Can I make extra repayments?

Yes, you can make extra repayments as often as you like. However, lump sum and/or additional repayments on fixed rate home/investment home loans can only be made to a maximum of $9,999.99 per annum without additional charges being incurred. Extra payments of $10,000 or more (including early repayment or switching of your loan type) will attract an Early Repayment Fee.

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We're building/renovating and don't need all the funds at one time. Can we access money progressively to pay builders, plumbers and electricians when we need to?

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.

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How much can I borrow?

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 branch lending specialists
  • Call us on 1800 075 078
  • We encourage you to obtain your own financial advice if you need further guidance in respect to your borrowing capacity or other related matters
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What costs am I likely to incur?

An establishment fee applies to most personal and home loans, as well as a monthly fee. Document fees may also apply. For some home loan or personal loan products, different fees may apply - please see our Fees and Charges brochure for the most current fees that apply.

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Can I make my repayments weekly or fortnightly, or do I have to make monthly repayments?

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.

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How long is my loan approval valid for?

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).

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Can the First Home Owners Grant be classified as part of our deposit?

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.

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How do I apply for a personal loan?

You can apply for a personal loan online. It usually takes around 15-20 minutes, and we collect all of your financial information, identification and assets and liabilities as part of the application so it's important to have this on-hand.

You can also visit us in branch to submit an application.

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How do I apply for a home loan?

To apply for a home loan, you'll need to make an appointment to visit us in branch. If you would like information about fees and charges or other information relating to the products mentioned above please refer to the relevant brochure.