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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.

Enquire online

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.

Deposit KickStart

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 could borrow up to 110% of the purchase price while avoiding Lenders Mortgage Insurance.4

Low Deposit Option

Our low deposit option enables you to borrow up to 95% of the property’s confirmed value, and is available to owner occupiers.5

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

We can make it easy for you by processing the grant application with your Suncorp Bank Home Loan. Ask us how.

Find out if you are eligible

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

eOptions Online Savings Account

An online-only savings account


On balances $0.01 & over

Everyday options Sub-Account

Link up to 9 interest-earning sub-accounts to an Everyday Options transaction account


New accounts only. Rate paid to 31st October 2017.

Cash Management Account

A premium savings account for high balances


On balances $500,000 & over

You may also find the following helpful

If you’re saving for a house, it can be hard to know when exactly to stop. When will you actually have enough money to go looking for a house and actually put down a deposit?


Rent out a room

It seems like a dream scenario. You get to offset the costs of your property and someone else gets to live comfortably for a reasonable price. You might even find a new friend!

Our 10-point check list to survive the moving day challenge.

Ready to take the next step?

Our home lending specialists are available to answer your questions

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Mon - Fri 8am - 7pm (AEST)

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1. Interest Rates Effective 31 July 2018. Variable interest rate. Interest is calculated daily. Standard interest is paid monthly.

2. Interest Rates Effective 4 July 2018. Variable interest rate. Interest is calculated daily. Standard interest is paid monthly.

3. Interest Rates Effective 5 August 2016. Interest is calculated daily and paid monthly on a tiered basis.

4. 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.

5. 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.

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