Member-owned banks lead the way for investors

RACQ Bank has been recognised as one of Australia's top lenders to investors in Money Magazine’s Consumer Finance Awards.

Its Choices Package investment home loan was called out by the publication as having offered a competitive one-year fixed rate of 3.59 percent.

RACQ spokesperson Lucinda Ross said the industry recognition demonstrated the strength of the member-owned model in banking.

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“Member-owned banks like ours are dominating the investment home lending category taking out the first three positions,” Ms Ross said.

“With no dividends to pay, we’re able to offer some of the best value products to mortgage holders across the country.

“Queensland homeowners deserve to get best deal they can from their bank, whether buying their first home or purchasing an investment property, and we’ll keep doing everything we can to take it to the big banks and drive competition in the market.”