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Home Loan rates are changing

Find out how to prepare for a change in home loan interest rates and how we can help if you need assistance.

Suncorp Bank often reviews home loan and residential investment loan interest rates. This includes after the Reserve Bank of Australia Board Monetary Policy Meetings. Learn about the most recent interest rate announcement and how this will impact you.

November 2023 rate announcement

Following the Reserve Bank of Australia’s November 2023 decision to increase the cash rate, our variable home loan rates will increase by 0.25% p.a. effective 17 November 2023.

 

What this means for you

From 17 November 2023, all current Suncorp Bank variable rate home loans will increase by 0.25% p.a. You can view your updated interest rate via Internet Banking and the Suncorp App the following day. The changes to the variable rates do not apply to existing fixed rate home loans.

Stay on top of your repayments

Find helpful tools, tips and options that could help you stay on top of changing home loan repayments.

Manage your Home Loan

Frequently asked questions

When there's an increase in your standard variable interest rate, it will raise the minimum repayment amount. We’ll let you know if there’s a change to your minimum repayments in a separate letter.

How to check your interest rate

You can check your new interest rate via Internet Banking or the Suncorp App the day after an interest rate change.

Suncorp App

Select ‘Account details’ within your Home Loan

Internet Banking

Click on your Home Loan account number

We’re here to help

Planning ahead

In an unpredictable interest rate environment, it’s a good idea to plan and see how your repayment can change over time if interest rates increase. The Home loan repayment calculator can help you estimate your new repayments.  

We will notify you by mail of any change to your minimum repayment.

How to get support

If you’re concerned about increasing interest rates and meeting your repayments, we’re here to help. 

Find out more about our financial hardship support by contacting us on 1800 225 223 (8:30 am-5 pm, Mon-Fri, AEST) or find out how to submit a request for assistance. Our Customer Assist team can help you get the support you need.

Whether you need temporary assistance or help over a longer period, the sooner you get in touch, the sooner we’ll be able to work out a plan to help you get back on track.

Home loan repayment calculator

Support for individuals

Support for businesses

1. You need to apply for Cashback, which may be available subject to conditions specified in the contract. Please read these conditions carefully. Available Cashback may exclude any recent cheque, direct debit or pay at post payments and external transfers cannot be performed using online Cashback. Fixed Rate home loans are excluded from Cashback.

2. A Mortgage Offset facility can be established by linking your Everyday Options Account to the loan account and having it in offset mode. A Mortgage Offset Fee may apply to link the 100% Home Loan Offset facility to your home loan, which is waivered under the Home Package Plus. The Mortgage Offset fee is charged to your linked loan account.

3. A minimum amount for each split is $10,000. Additional charges may be incurred for additional loans, unless held in a Home Package Plus.

For Fixed Rate Home Loans, an Early Payment Interest Adjustment (EPIA) applies if more than the prepayment allowance (currently $500.00 per month) is paid in excess of the agreed monthly repayment. The EPIA also applies if the loan is repaid in full or the agreed fixed rate period is broken for any reason. EPIA applies to the whole amount prepaid. Find out more information on EPIA or ask in branch for our EPIA brochure.

# The Renovation Calculator is hosted and operated by RP Data Pty Ltd, trading as CoreLogic Asia Pacific (“CoreLogic”). Estimated renovation costs are indicative only and do not represent Suncorp-Metway Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 ("Suncorp Bank") making an offer of credit or providing loan approval. Suncorp Bank does not accept any legal responsibility for any loss incurred as a result of reliance upon this tool – please make your own enquiries.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Please read the relevant Product Information Document, Lending Fees and Charges and the Home Package Plus Terms and Conditions before making a decision regarding any Suncorp Bank products. Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page.