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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 deposit for a home loan and purchase
The deposit amount you’ll need depends on the purpose and purchase price of the property.
Suncorp Bank provides borrowing of up to 80% of the property’s confirmed value (LVR) while avoiding Lending Mortgage Insurance (LMI).
Suncorp Bank may provide up to 95% LVR inclusive of LMI4.
We understand that saving a deposit for your first home is a substantial task and that’s why Suncorp Bank has created options like our Deposit KickStart and Low Deposit Option.
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
Products to help you save
No matter how big or small your savings goal, we can help.
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.
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Displayed rate is based on a rate currently available for a 3 month flexiRate. flexiRates are available on Everyday Options Main and Sub-accounts. If a flexiRate is not set up standard variable Everyday Options Main or Sub-account interest rate will still apply. If your account is operating in offset mode, you will earn credit interest on the amount of your flexiRates, and the remaining balance will offset your loan.
4. A maximum LVR has multiple eligibility requirements that need to be assessed as part of a loan application, approved and is not guaranteed.
Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) with Home Loans to approved applicants only. Please read the relevant Product Information Documents, Lending Fees and Charges and the 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.
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.
