Brisbane residents will save thousands of dollars in tools, camping gear and sporting equipment by joining the first tool library in Queensland.

The Brisbane Tool Library, partnered with the State Library of Queensland, will open the service on Thursday at The Edge, South Bank.

Second-hand items donated to the library, including lawn mowers, camping tents, jackhammers and power saws can be borrowed for one to three weeks if renewed.

Users can create an online account or walk in to borrow up to four items per week with the option to renew the items.

Late fees can be between $5 to $20 per day depending on the item and membership costs $60 for concession, $75 per person or $200 for a not-for-profit organisation.