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Our low 2 Year Fixed Rate just got lower!
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.
Discounted 2 Year Fixed Rate in Home Package Plus (HPP). Owner Occupied. New to bank lending in the HPP >= $150,000. Maximum LVR 80%. Principal and Interest repayments.
Option to lock in a rate at the time of application
As Fixed Rates are determined at settlement of your loan, our Guaranteed Rate Fee removes this uncertainty by fixing the rate at application for up to 90 days to protect you from unforeseen increases before loan settlement
Rate certainty
Choice of terms. Set your rate for a term of 1, 2, 3, or 5 years and know your interest rate payable won't increase. You have the option to lock in the rate on application.
Package and save
Combine your home loan, Everyday Options bank account and other Suncorp products and save on interest and fees.
Applying is simple, get started online
Normal waiting periods may be impacted due to COVID19, however, we will always aim to get back to you as soon as possible.
New customers – Home Package Plus waiver
We’ll waive the annual package fee for the first year, saving you $375.
Offer valid from 27/03/2017 until withdrawn. The first annual package fee is waived for new Home Package Plus customers with new lending of at least $150,000.
Package your loan
Package your Fixed Rate or Standard Variable Rate home loan of $150,000 or more with an Everyday Options Bank Account and enjoy a discounted rate and other savings.
What you get with Home Package Plus
- Interest rate discounts. Save on your Fixed Rate or Standard Variable Rate home loan.
- Save on fees. No loan establishment fees, monthly account keeping fees, mortgage offset fee or annual credit card fees.
- Split Loans. Split your lending needs with a Standard Variable Rate home loan.
- Save on products. As a part of Home Package Plus you’ll get discounts on select Suncorp Bank and Insurance products.
For an annual fee of
$375
Download the Home Package Plus Terms and Conditions
Loan establishment fee
$600 for loans <90% LVR
$990 for loans >= 90% LVR
$0 with Home Package Plus
Account keeping fee
$10 p/m
$0 with Home Package Plus
Mortgage offset fee
$75 one off fee
$0 with Home Package Plus
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.
Lender’s Mortgage Insurance (“LMI”)
Amount and costs determined at application on loans > 80% LVR
Download the Lending Fees and Charges brochure
Awarded for outstanding value
Our home loans have been awarded for Outstanding Value by Canstar to owner-occupiers across the variable and fixed-rate loan terms considered in these ratings. Canstar Research found owner-occupiers with a 5-Star Rated home loan tended to have access to lower interest rates compared to the market average.
Pre-approval (sometimes referred to as conditional approval) will give you a good idea of how much you may be able to borrow from the bank. If a lender pre-approves you for a loan, they will do so for a specific amount, so you can house hunt properties you know you can afford.
It is obligation-free if you're successful, and you can apply more than once.
You can speak with a lender to apply, or you can apply for preapproval in under 10 minutes online!
You can make additional repayments to your Standard Variable or Back to Basics Variable Home Loan at any time.
For Fixed Rate Home Loan, additional repayments of up to $500 in excess of your minimum monthly repayment are permitted. After that, an Early Payment Interest Adjustment Fee (EPIA) may apply.
For more information on fees, view the EPIA brochure.
A home loan will have a loan term (usually between 8-30 years), which can have the option of principal and interest or interest only repayments.
For a principal and interest home loan, you will be required to pay a minimum monthly repayment. This repayment will require you to pay the interest charge, as well as reducing the principal amount of the loan over the required term.
For an interest only home loan (requires approval), you can take a maximum interest only period of 5 years. During this period, you will only be required to pay the interest charges. At the end of the interest only period, you will revert to a principal and interest repayment.
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.
For all queries about existing Suncorp Home Loans call 13 11 55 Mon-Fri 8am-6pm (AEST)
What can I expect?
Whether you want to get pre-approval, a new loan or refinance your existing loan with Suncorp, you can apply quickly online. Your dedicated lender will review your application and reach out to you in the next business day to discuss your options and answer any questions you have.
# 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.
^ The discounted rate (currently 1.89% p.a.) is calculated by subtracting a discount of 0.45% from the Standard 2 Year Fixed Rate (currently 2.34% p.a.) and only applicable while the loan remains in the Home Package Plus. At expiry of the 2 Year Fixed Rate Term, the loan will revert to the applicable Standard Variable Rate advertised at the time (currently 4.98% p.a.) less the Home Package Plus discount (currently 2.34% p.a.). LVR means Loan to Value Ratio, stated above & inclusive of Lenders Mortgage Insurance (LMI). Refinance of existing Suncorp Bank loans and pre-approvals are excluded. The Standard 2 Year Fixed Rate applicable on the day of settlement of the loan will be used to calculate the applicable discounted fixed rate unless the rate has been secured by paying a Guaranteed Rate Fee, which must be selected at time of loan application. Current standard fixed rates and discounts are subject to change without notice. This limited time offer is valid from 19 November 2020 and Suncorp Bank reserves the right to vary or withdraw this offer at any time. Please refer to the Home Package Plus Terms and Conditions booklet for full Terms and Conditions of the Package.
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 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.
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.
Split your loan across fixed and variable rates
You can choose to split your loan and keep a portion of your borrowings at a variable interest rate, allowing you the option to make additional repayments in excess of $500 without penalty /redraw on the variable component
Option to lock in a rate at the time of application
As Fixed Rates are determined at settlement of your loan, our Guaranteed Rate Fee removes this uncertainty by fixing the rate at application for up to 90 days to protect you from unforeseen increases before loan settlement
Principal + Interest or Interest-only repayment options
Interest only repayments subject to credit approval
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.
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
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.
