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Saving for a deposit
We understand that saving for the deposit for your first home can be a big challenge, however there are ways we can help.
Or call us 13 11 55 Mon - Fri 8am - 7pm AEST
Your house deposit
The deposit amount you’ll need mostly depends on the purchase price of the property – the higher the price the more deposit you need to save. Owner occupiers can borrow up to 95% of the property's confirmed value (subject to credit requirements), however, the more you can save for a house deposit the less it will cost you over the lifetime of the loan.
We understand that saving a deposit for your first home is a substantial undertaking. That’s why Suncorp Bank has created options like our Deposit KickStart and Low Deposit Options that are both options for owner occupiers. They're designed to help make it easier to secure your loan, and get you into your new home sooner.
Need help? Speak to one of our home loan specialists Enquire online or call 13 11 55
The First Home Owners Grant
If your state or territory offers a first home buyers grant and you’re eligible, this is a great way to boost your deposit. The First Home Owners Grant is a government scheme offering a one-off grant payable to eligible first home owners who are looking to be owner occupiers.
You can access information about the First Home Owners Grant by contacting the Revenue Office in your State or Territory, or by visiting www.firsthome.gov.au
We can make it easy for you by processing the grant application with your Suncorp Bank Home Loan. Ask us how.
Tools to help you budget & save
We offer products to help you save
Watch your savings grow and reach your deposit goal sooner with a Suncorp Bank high interest account designed to help you save
You may also find the following helpful
Ready to take the next step?
Our home lending specialists are available to answer your questions
1. 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.
2. To approved applicants only. Exclusions and maximum loan amounts apply. Suncorp Bank will lend you 95% of the purchase price or valuation (whichever is the lower). You will need to contribute all bank, legal and government fees and charges associated with the purchase of the property. Lenders Mortgage Insurance will be required and may be included in loan amount (conditions apply).
Home Loans are issued by Suncorp-Metway Ltd ABN 66 010 831 722 No 229882 Australian Credit Licence 229882 ("Suncorp Bank") to approved applicants only. Fees, charges, terms and conditions apply and are available upon request. Various products and services are provided by different entities of the Suncorp Group. The different entities of the Suncorp Group are not responsible for, or liable in respect of, products or services provided by other entities of the Suncorp Group. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. Where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should consider the Product Disclosure Statement before making any decision regarding the product. Contact us 13 11 55 for a copy.
