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Standard Variable Rate Home Loan

A low variable rate home loan with optional 100% mortgage offset capability

Current Offers

Rates are available with Home Package Plus

Owner-occupied Rates

+

Discounted Standard Variable Rate in Home Package Plus
New to bank lending >= $150,000
Maximum LVR 90%

Investor Rates

++

Discounted Standard Variable Rate in Home Package Plus
Maximum LVR 80%

Why choose a Standard Variable Rate Home Loan?

The Standard Variable Home Loan offers a low variable rate and is a great way to save on interest through optional 100% mortgage offset capability when linked to your Everyday Options transaction account.

Whether you’re buying your first home, investing in property, or just looking for your current home loan to work harder for you, make your next property move with this variable home loan.

Key features

  • Low variable interest rate
  • Save on interest with optional 100% mortgage offset capability when linked to your Everyday Options transaction account
  • Statements are issued every 6 months

With options to suit your needs now

  • Suitable for personal or investment purposes
  • Suitable for construction loans
  • Principal and Interest or Interest-only repayment options
  • Loan terms from 8 to 30 years
  • Choose weekly, fortnightly, or monthly repayments

Getting the most from this home loan

  • Make additional repayments without penalty
  • Access additional repayments through our redraw feature Cashback
  • Split your loan across fixed and variable rates
  • Use our Add Loan feature to increase your borrowings
  • Include in our Home Package Plus for more savings & benefits

Compare all Home Loans

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+ Advertised rate valid from 12 September 2017, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate available for new owner-occupied loans of at least $150,000 where borrowings are less than 90% of the security property value (“LVR”) inclusive of lenders mortgage insurance. Rate includes a Package Variable Discount of 1.76% p.a. applied to the Bank’s Standard Variable Rate for owner-occupied lending (currently 5.55% 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 & investment lending excluded.

++ Advertised rate valid from 12 September 2017, is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. Rate available for investment loans with total home lending in the Home Package Plus of > $150,000, where borrowings are less than 80% of the security property value (“LVR”) inclusive of lenders mortgage insurance. Rate includes a Package Variable Discount of 1.15% p.a. applied to the Bank’s Standard Variable Rate for investment lending (currently 5.99% 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. 

∇ 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. 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.

Home Package Plus discount are applied for as long as the home remains part of the Home Package Plus. Interest rates and discounts are subject to change without notice. Discounts margins may be withdrawn at any time before a contract is entered into. Discounts are applied to the applicable Standard Interest Rate at the day Settlement. Loan to Value Ratio (LVR) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable. Loans with LVR limits of 90% to ≤95% are only available with a repayment type of principal and interest. A repayment type of interest only is available on loans with an LVR limit < 90%.

# Each comparison rate is based on $150,000 over 25 years. WARNING: 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.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 to approved applicants only. Please read the relevant Product Information Document for Suncorp Bank Personal Deposit Accounts and the Terms and Conditions for Suncorp Accounts before making a decision regarding a Suncorp Bank transaction account. Fees, charges, terms and conditions apply and are available on request or at suncorp.com.au/banking/help-support/documents-forms.

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.

Borrowings

Allows you to increase the value of your existing home loan, useful for purposes like renovations subject to credit criteria

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

Repayment option

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.

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.