First Home Loan Deposit Scheme (FHLDS)

QBANK is proud to be a Participating Lender in the Australian Government's First Home Loan Deposit Scheme to help first home buyers purchase a home sooner.


Classic Variable

<95% LVR

Interest Rate

2.94% PA

Comparison Rate*

2.97% PA

How does it work?

10,000 First Home Loan Deposit Scheme places will be available to eligible first home buyers from 1 July 2021 to 30 June 2022.

The Australian Government, through the National Housing and Finance Investment Corporation (NHFIC) provides a guarantee that will enable first time buyers to purchase a home with a deposit of as little as 5% without paying Lenders Mortgage Insurance (LMI).


Who is eligible?

Applicants under the Scheme will be subject to scheme eligibility criteria, including but not limited to criteria in relation to income thresholds and property prices. The Scheme will apply to owner-occupied loans on a principal and interest basis. You can download First Home Loan Deposit Scheme Information Guide and First Home Loan Deposit Fact Sheet. QBANK standard credit eligibility criteria, terms and conditions, fees and charges will apply to loans under the Scheme.


More information on FHLDS

If you would like to know more about the Scheme please visit the NHFIC FHLDS Website. For more information about QBANK Home Loans (including credit eligibility criteria, terms and conditions, fees and charges) please visit our Home Loan Key Fact Sheet.


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Ready to start your journey?

Terms and Conditions apply to home loans and are provided with our loan offer. Fees and charges apply.

Interest rates current as at 21 June 2022 and are subject to change without notice.

Fact Sheets are available here.

If you would like to know more about the Scheme please visit

* 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. The comparison rate displayed is calculated based on a loan amount of $150,000 over a 25 year term.


  • 1 Valid for home loan applications of $150,000 or more of new lending for owner occupiers and is available for a limited time only. Interest only not available. Offer may be withdrawn at any time. Offer not valid for redraw of advance repayments, existing QBANK members switching loans or internal refinances.