Broker guide
BOQ Personal Loans: Availability and Policy 2026
Checking a BOQ personal loan? Confirm the current product and provider, then compare applicant evidence, permitted purposes, security and repayments.
- Published
- Updated
BOQ personal loans are closed to new applications, while existing accounts remain open. BOQ’s personal and car-loan page confirms that both products are no longer available for new lending. A current borrower still needs their own contract and account records to establish the debt’s terms.
For a new funding request, compare a lender accepting applications for that purpose. For an existing BOQ loan, first identify whether the debt is a personal loan, a secured car loan or a different finance contract.
Identify the BOQ Product
Identify the product from the borrower’s loan agreement, because BOQ personal lending and equipment finance have different contracts. The BOQ personal and car-loan page confirms that new applications have stopped and existing accounts remain open.
BOQ’s retained personal-loan information describes an unsecured fixed-rate facility. Its former secured car loan used the vehicle as security. These are different from BOQ equipment and vehicle finance, which includes business equipment leasing and secured equipment finance.
Residential lending is a home-loan facility with its own agreement and property security.
For an existing BOQ personal loan, start with BOQ’s personal banking support on 1300 55 72 72. Have the account number ready and ask for the team handling that loan. For an equipment-finance contract, use its named servicing contact, with the contract number and the action required.
The trading name alone doesn’t identify the credit provider. Retain the legal provider and servicing details from the agreement, together with any later notice changing them.
Purpose, Applicant and Security
Match the loan purpose and security to the actual facility before assessing the borrower’s evidence. BOQ’s retained Fixed Car Loan overview describes finance for a new or used vehicle secured by that vehicle. It describes the former product, not an invitation to apply now.
For an existing debt, record its original purpose and whether security remains in place. If a vehicle is being sold, establish the amount needed to clear the secured debt and the process for releasing security. A personal-loan label on a bank transaction doesn’t settle those questions.
For replacement lending, organise the applicant’s evidence around the new lender’s requirements:
- Record the requested amount, permitted purpose and any quote or invoice supporting the purchase.
- Gather income evidence suited to the applicant’s work, such as payslips or tax records. Reconcile it with income received in their accounts.
- List all liabilities, including card limits and buy now pay later commitments. Keep current repayment amounts alongside living expenses.
- For secured finance, retain the asset description and purchase details. Check the proposed lender’s vehicle or asset eligibility conditions before recommending the facility.
BOQ’s old application checklist remains online, but it doesn’t reopen personal-loan applications. Use the replacement lender’s evidence rules for new finance.
Offer and Existing-Loan Evidence
Use the agreement and latest account statement to reconcile an existing BOQ loan. BOQ’s personal-lending supplementary terms work alongside the loan agreement and relevant fee documents. They identify Bank of Queensland Limited as the issuer.
Keep these records together when assessing the existing commitment or a refinance:
| Record | What to establish | Why it changes the assessment |
|---|---|---|
| Loan agreement and later variations | Product, provider, term and repayment frequency | Identify the borrower’s actual obligations |
| Latest statement and repayment record | Balance, interest, fees and payments received | Reconcile the debt and current commitment |
| Written payout quote | Amount required, validity period and payment instructions | Establish what the refinance must repay |
| Security and release instructions | Secured asset and release process | Establish what must happen before a sale or refinance completes |
BOQ’s retained personal-loan page says its fixed-rate personal loan permits extra repayments and early repayment without penalties. Apply that statement only to the matching product. Use the provider’s payout quote for the amount needed to close the account.
For a replacement offer, compare the same amount and term. Moneysmart’s personal-loan guidance explains why a longer term can reduce repayments while increasing total cost. Enter the actual proposed rate and fees, then reconcile the result with the lender’s repayment schedule before replacing the existing debt.
