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Back to Basics
Home Loan

A low variable rate home loan with no ongoing account keeping fees

Current Offers

Owner-occupied rates are available with the Better Together special offer

Owner-occupied Rates

*

Discounted Back to Basics Variable Rate with Better Together Special
New to bank lending >= $150,000
Maximum LVR 90% (incl.LMI)

Investor Rates

**

Standard Back to Basics Variable Rate
Maximum LVR 90% (incl.LMI)

Why choose a Back to Basics Home Loan?

Our Back to Basics Home Loan offers a low variable rate with no ongoing account keeping fees. Whether you’re buying your first home, investing in property, or just looking to make your current home loan work harder for you, make your next property move with this great value variable home loan.

Key features

  • Low variable interest rate
  • No monthly account keeping fee
  • No Loan Establishment Fee on new lending of $150,000 or more
  • One free online redraw per month with our Cashback feature
  • Statements issued every 6 months

With options to suit your needs now

  • Suitable for personal or investment purposes
  • Suitable for construction loans
  • Principal and Interest or Interest Only repayment options
  • Loan terms from 8 to 30 years
  • Choose weekly, fortnightly, or monthly repayments

Getting the most from a Back to Basics Home Loan

  • Make additional repayments without penalty
  • Access additional repayments through our redraw feature Cashback
  • Split your loan across fixed and variable rates
  • Use our Add Loan feature to increase your borrowings

Compare all Home Loans

Try out our repayment calculator today

Contact us to find out more

Book a visit with one of our friendly lenders

* Advertised discounted rate/comparison rate valid from 19 July 2017, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate/comparison rate available for new owner-occupied loans of at least $150,000 where borrowings are less than or equal to 90% of the security property value (“LVR”) inclusive of lenders mortgage insurance. Rate/comparison rate includes a 1.19% p.a. discount applied to the Bank’s Back to Basics interest rate for owner-occupied lending (currently 4.97% p.a.). Discount may be varied if the loan purpose is changed before settlement or where the borrower fails to hold a Suncorp Bank transaction account. Everyday Basics Accounts are issued by Suncorp Bank ABN 66 010 831 722. Please read the relevant Product Information Document for Suncorp Bank Personal Deposit Accounts and the Terms and Conditions for Suncorp Accounts before making any decision regarding this product. These documents are also available at Suncorp Bank branches or at suncorp.com.au/banking/help-support/documents-forms. New loans only, pre-approvals and investment lending excluded.  

** Advertised rate valid from 18 July 2017, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate available for investment loans of at least $10,000 where borrowings are less than 90% of the security property value (“LVR”) inclusive of lenders mortgage insurance.

# Each comparison rate is based on $150,000 over 25 years. WARNING: 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.

Interest rates and discounts are subject to change without notice. Discounts margins may be withdrawn at any time before a contract is entered into. Discounts are applied to the applicable Standard Interest Rate at the day Settlement. Loan to Value Ratio (LVR) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable. Loans with LVR limits of 90% to ≤95% are only available with a repayment type of principal and interest. A repayment type of interest only is available on loans with an LVR limit < 90%.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 to approved applicants only. Please read the relevant Product Information Document for Suncorp Bank Personal Deposit Accounts and the Terms and Conditions for Suncorp Accounts before making a decision regarding a Suncorp Bank transaction account. Fees, charges, terms and conditions apply and are available on request or at suncorp.com.au/banking/help-support/documents-forms.

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

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

Add Loan

Allows you to increase the value of your existing home loan, useful for purposes like renovations subject to credit criteria

Fixed Rate

Lock in your interest rate and repayment amount

Variable Rate

A rate that is variable and is subject to change over the loan term.

Comparison Rate

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.