Split loan

How does a split loan work?

Home loans can be split any way you like. There are a couple of decisions you will need to make when splitting your home loan. These include deciding which fixed and variable product suits your needs, the portion of the loan you will fix vs. the portion of the loan you will keep variable, and the loan periods for each. You will then be able to determine your new monthly repayment amount. An RACQ Bank lender can help you identify which combination of fixed and variable rates are best suit your needs for your split home loan.

Enquire online todayHome loan repayment calculator

Things to note

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Comparison rate is based on a secured loan amount of $150,000 with monthly repayments over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Insurance products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the Product Disclosure Statement (PDS) and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.

* Home Bundle Terms and Conditions

1. The Home Bundle Offer (offer) provides eligible RACQ Bank customers with up to 15% discount on combined Home and Contents Insurance, Home Building Insurance, or Contents Insurance as long as the insurance policy is current and remains continuous.
2. The discount is only applicable while the policy is current, and any lapses, cancellation or interruptions in coverage will result in the loss of the discount. RACQ Bank will not retroactively apply the discount for policies reinstated after a policy has lapsed or was cancelled.
3. The discount applies only to insurance covering the Home and/or Contents at the risk address which is subject to the eligible home loan taken out under this offer.
4. If the member makes any policy changes to their insurance cover that requires an additional premium to be paid (after the initial insurance policy is taken out), the member must pay that amount.
5. The Home Bundle offer is valid for new RACQ Bank home loan customers only. The offer is available until further notice, subject to change without notice, and may be withdrawn at any time. Acceptance of the offer is optional.
6. The offer is valid for Investment or Owner Occupier, residentially secured home lending products only. It is not available for businesses or companies. Lending terms, conditions, fees, charges and lending criteria apply. View our Loan rate schedule and fee schedule for a full list of RACQ Bank’s home loan rates, fees, and charges.
7. Refer to the ‘Things to Note’ section for information on RACQ Bank Home Loans eligible for the Home Bundle offer.
8. The offer is not available to directors, officers, management, employees and other staff (and the immediate families of directors, officers, management, employees and other staff).
9. For refinanced home loans from other banks, combined Home and Contents Insurance, Home Building Insurance or Contents Insurance policies will be eligible for the discount at or after the home loan has reached funding stage.
10. For property purchases, policies are to be created once purchase contract is signed or at loan submission, however Home Loan plus combined Home and Contents Insurance, Home Building Insurance or Contents Insurance discounts are conditional on the home loan funding within 90 days of the date of the submitted application.
11. Members who already hold at least one insurance policy issued by RACQ Insurance Limited may be eligible for additional discounts. Visit racq.com for the full breakdown of discounts. After applying any available discounts, a further discount of up to 15% will be deducted to the total running premium to calculate the final premium. The calculated premium may include additional taxes, charges, and levies, which may impact the total discount received. This discount offer is not available in conjunction with the online discount for combined Home and Contents Insurance, Home Building Insurance or Contents Insurance.
12. RACQ Bank reserves the right to vary, modify or discontinue this offer at any time without notice.
13. Insurance products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the Product Disclosure Statement (PDS), and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations and the relevant Additional Information Guide on this website.
14. Refer to the ‘Things to Note’ section of this page for RACQ Bank Home Loan disclaimers including the comparison rate warning.