Low variable interest rate
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
By switching to Suncorp Bank, you could save thousands
Receive $1,500 when you refinance your eligible home loan with Suncorp Bank
Combine your Back to Basics home loan of $150,000 or more with a Everyday Basics bank account and enjoy a discounted rate and other savings.
What you get
- Discounted interest rate on your Back to Basics home loan
- Get a discount of up to 20% off your first year’s premium on a new Suncorp Home, Landlord and/or Contents insurance policy 2
Account keeping fee
Loan establishment fee
$0 for borrowings >= $150,000
$600 for borrowings <$150,000 < 90% LVR
$990 for borrowings < $150,000 >= 90% LVR
Amount and costs determined at application on loans > 80% LVR
Download the Lending Fees and Charges brochure
Pre-approval is based on your ability to repay a loan. It means that a lender has reviewed your application and determined that you’re in a good position to be able to pay back a loan for a specified amount.
Yes. You can make additional repayments to your Standard Variable or Back to Basics Home Loan at any time.
If you have a Fixed Rate Home Loan, additional repayments of up to a maximum of $500 in excess of your monthly repayment can be made without incurring extra fees.
Our Home Loan Cashback feature lets you redraw funds that you've paid in advance of your normal scheduled home loan repayments.
By making these additional payments to your variable loan, you’re paying off your home loan sooner.
You can still redraw this excess money at any time – for school and university expenses, a holiday, renovation, or any other purpose. This feature is available on Suncorp Bank Standard Variable and Back to Basics home loans.
If you have a standard home loan, the repayments you make will require you to pay off a portion of the principal as well as paying interest charges. An Interest-Only loan, however, will only require you to pay the interest charges but not any of the principal during the interest-only period. It is important to remember that your repayment amount will increase when your interest only period ends and you begin principal and interest repayments.
Deposit KickStart lets owner-occupiers use the equity in the home of a family member towards the purchase of your new owner-occupied home – to help kick start your dream. With Deposit KickStart, you can avoid the need of paying Lenders Mortgage Insurance without the 20% deposit.
To approved applicants only. Exclusions and max loan amounts apply. Fees and charges, including government fees and charges apply. Conditions apply to all products, loan options, discounts and packages and are available from Suncorp-Metway Ltd ABN 66 010 831 722. Australian Credit Licence Number 229882.
No. You won’t be charged for using the mobile lender service and all advice is obligation-free.
Things you should know
+ Discounted Back to Basics variable rate with Better Together special
Advertised discounted rate/comparison rate valid from 22 February 2019, is subject to change without notice and may be withdrawn at any time. Offer available for new Personal/Owner Occupied >=$150,000 where borrowings <=90% of the security property value (“LVR”) inclusive of lenders mortgage insurance (where applicable), and who hold or acquire a Suncorp Bank transaction account. Disclosed interest rate is based on Principal and Interest, Back to Basics Variable (Currently variable interest rate of 5.19% p.a.) less net discount of -1.40% p.a. Rate and discount may be varied if the loan purpose or repayment type is changed or where the borrower fails to hold a Suncorp Bank transaction account. Pre-approvals excluded. Banking Products are issued by Suncorp Bank. Please read the relevant Product Information Document and the Terms and Conditions before making any decision regarding this product. These documents are also available at Suncorp Bank stores or on our Product Information Documents and Forms page.
++ Discounted Back to Basics variable rate with Better Together special
Advertised discounted rate valid from 22 February 2019, is subject to change without notice and may be withdrawn at any time. Offer available for new Investment >=$150,000 where borrowings <=90% of the security property value (“LVR”) inclusive of lenders mortgage insurance (where applicable), and who hold or acquire a Suncorp Bank transaction account. Disclosed Interest Rate is based on Principal and Interest, Back to Basics Variable (currently variable interest rate of 5.61% p.a.) less net discount of -1.52% p.a. Rate and discount may be varied if the loan purpose or repayment type is changed or where the borrower fails to hold a Suncorp Bank transaction account. Pre-approvals excluded. Banking Products are issued by Suncorp Bank. Please read the relevant Product Information Document and the Terms and Conditions before making any decision regarding this product. These documents are also available at Suncorp Bank stores or on our Product Information Documents and Forms page.
1 Refinance Offer
The Refinance Offer is applicable when you apply and settle an Eligible Home Loan with Suncorp Bank. An Eligible Home Loan is an owner occupied home loan that is: (1) applied for between 8 October 2018 – 30 June 2019 and settled by 29 September 2019; (2) refinanced from another financial institution; (3) $250,000 minimum loan refinance with a Loan to Value Ratio of 80% or less; (4) a Standard Variable or 2,3 or 5 Year Fixed Rate loan in the Home Package Plus (Line of Credit / Access Equity Special Offer is excluded), or Back to Basics Better Together Special; (5) not established in the name of a company, business or trust. Refinancing of an existing Suncorp Bank home loan or pre-approvals are ineligible for the Refinance Offer. A limit of one (1) payment of $1,500 will be made to a borrower and if there is more than 1 borrower one (1) payment will be made to them jointly. Each borrower, whether individually or jointly, can only ever receive a payment of $1,500 once. If any of the borrowers have received a payment whether individually or jointly under the Refinance Offer previously then no further payments will be made. The $1,500 cash payment will be credited to the linked Everyday Options account which forms part of the Home Package Plus; or to the transaction account linked to the Back to Basics Better Together Special only, within 30 days of the settlement date. Suncorp Bank reserves the right to terminate the offer at any time. Applications subject to credit approval. Fees, and charges may be applicable. Full terms and conditions will be included in our loan offer.
2 Better Together Insurance Offer
Offers not available online & only available with Better Together Offer on relevant property. Up to 20% discount applies to any new Suncorp Home or Home & Contents or Landlord insurance policy. The discounts are off our usual premium. If you are eligible for more than one discount on a particular policy we apply each in a predetermined order to the already discounted premium. Taxes and charges are usually added after discounts are applied. Minimum premiums may apply. Offer available for new policies only and not on current or subsequent renewals. Insurance issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance. Conditions and exclusions apply. Please read the relevant Product Disclosure Statement before you make any decisions regarding these products. Contact us for a copy.
Other things you should know
Loan to Value Ratio (“LVR”) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable. A repayment type of interest only is available on loans with an LVR limit <90%. At the expiry of the interest only period, the rate will convert to the applicable Principal &Interest Rate plus or minus any applicable margins specified in your credit contract.
For a full list of rates with discount margins displayed, please view our Home Lending Interest Rate Guide.
# COMPARISON RATE WARNING: Each comparison rate is based on $150,000 over 25 years. These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.
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 and the 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.
Lenders Mortgage Insurance (LMI)
If you are borrowing more than 80% of the value of the property, you will be required to pay Lenders Mortgage Insurance. This is a one-off payment and can be financed into the loan.
Lenders Mortgage Insurance protects Suncorp Bank against loss in the event of a forced sale of a mortgage property. It does not insure you but may make it possible for you to buy a home with a smaller deposit. You will still be responsible for all amounts owing in relation to your loan.
Interest only repayments subject to credit approval. Before choosing an interest-only repayment option, it’s important you understand the potential risks associated with this product feature. As the name suggests, interest-only repayments means you’ll repay the interest charges but you are not required to repay the principal during the interest-only period. Since repayments to reduce the principal are not being made during the interest-only period, the full loan amount will still be due at the end of the interest-only period. You will pay more in interest than if you made principal and interest repayments.
Split your loan
You can choose to split your loan and fix a portion of your borrowings at a fixed interest rate for greater budgeting certainty. At expiry all fixed rate loans revert to the Standard Variable rate and may differ to the the Back to Basics variable rate
Allows you to increase the value of your existing home loan, useful for purposes like renovations subject to credit criteria
Lock in your interest rate and repayment amount
A rate that is variable and is subject to change over the loan term.
A comparison rate is a rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product.