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Access Equity Line of Credit Loan

Current Offer

Rate is available with Home Package Plus


Discounted Access Equity Variable Rate in Home Package Plus
New to bank lending >= $150,000
Maximum LVR 80%

How does an 'Access Equity' Line of Credit Loan work?

It is an approved borrowing limit that works similarly to a credit card: once approved, you can draw down on the funds up to your approved credit limit, as needed and repay as and when required.

The approved limit is determined by the equity in your property. Equity is the difference between the value of your property and the amount still owing on it. So if your home is valued at $600,000, and you still owe $300,000 on your current home loan, your equity is $300,000. 

Key features

  • Low variable interest rate
  • Interest is only paid on the amount drawn
  • Withdraw funds up to your approved credit limit when you need it
  • Use your line of credit for everyday expenses and purchases
  • Statements are issued monthly on the anniversary date on the loan

With options to suit your needs now

  • Make repayments when it suits you as long as you remain within your borrowing limit
  • Loan terms from 8 – 30 years

Getting the most from an Access Equity line of credit loan

  • Deposit regular income or lump sums any time without penalty
  • Split your loan across fixed and variable rates
  • Include in our Home Package Plus for more savings & benefits

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^ Advertised rate valid from 13 December 2016, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate available for new Access Equity facilities of at least $150,000 or more where borrowings are less than 80% of the security property value. Rate includes a Package Variable Discount of 0.95% p.a. applied to the Bank’s Access Equity Variable Rate (currently 6.02% p.a.). Discount is applied for as long as the loan remains part of the Home Package Plus and may be varied if the loan purpose is changed before settlement. New loans only, pre-approvals excluded.

^^^ The Home Package Plus Variable Discounts are applied to the Access Equity rate applicable on the date of Settlement on loans included in the Home Package Plus. The Package Variable Discount is applied for as long as the loan remains part of the Home Package Plus.

~ Offer valid from 27/03/2017 to 30/06/2017. The first annual package fee is waived for new Home Package Plus customers only with new lending of at least $150,000. The annual package fee of $375 is charged and refunded to the loan. Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into.

Loans are issued by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence number 229882 (“Suncorp Bank”). To approved applicants only. Fees, charges, terms and conditions apply and are available on request. 

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.

Variable rates

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 Access Equity variable interest rate

Variable Rate

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