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Standard Variable
Rate Home Loan

A variable rate home loan with a 100% mortgage offset capability.

Variable rate with 100% mortgage offset capability

With Home Package Plus

Owner Occupied

+

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

Investor

++

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

Why choose our Standard Variable Rate Home Loan?

100% mortgage offset

Save on interest with a mortgage offset when your loan is linked to an Everyday Options bank account.

Flexible options

Unlimited additional repayments. Redraw additional repayments as cashback. Interest only repayment option subject to credit approval.

Package and save

Combine your home loan, bank account and other Suncorp products and save on interest and fees.

Current offers

Package your loan

Package your Standard Variable Rate home loan, Fixed Rate home loan or Access Equity Line of Credit of $150,000 or more with an Everyday Options Bank Account and enjoy a discounted rate and other savings.

What you get with Home Package Plus

  • Interest rate discounts. Save on your Standard Variable Rate home loan, Fixed Rate home loan or Access Equity Line of Credit.
  • Save on fees. No loan establishment fees, monthly account keeping fees, mortgage offset fee or annual credit card fees.
  • Split Loans. Split your lending needs with a Fixed Rate home loan or Access Equity Line of Credit.
  • Save on products. As a part of Home Package Plus you’ll get discounts on select Suncorp Bank and Insurance products.

Find out more

For an annual fee of

$375

Fees

Loan establishment fee

$600 for loans <90% LVR
$990 for loans >= 90% LVR
$0 with Home Package Plus

Account keeping fee

$10 p/m
$0 with Home Package Plus

Mortgage offset fee

$75 one off fee
$0 with Home Package Plus

Lender’s Mortgage Insurance (“LMI”)

Amount and costs determined at application on loans > 80% LVR

Compare Home Loans

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Frequently Asked Questions

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Discounted Standard Variable Rate with Home Package Plus
+Discounted rate is only available for new Personal/Owner Occupied loans taken out as part of the Home Package Plus Special Offer >= $150,000 and borrowings <= 80% of the security property value (LVR) inclusive of lenders mortgage insurance (if applicable), with Principal and Interest repayments. The discounted rate (currently 3.29% p.a.) is calculated by subtracting a discount of 1.94% from the Standard, Standard Variable Rate (currently 5.23% p.a.). The discounted rate is only applicable to the Standard Variable loan while the loan remains in a Home Package Plus. The discounted rate is available on eligible loans applied for from 4 December 2019. Rates and discounts are subject to change. Pre-approvals excluded.

Discounted Standard Variable Rate with Home Package Plus
++Discounted rate is only available for new Investment loans taken out as part of the Home Package Plus Special Offer >= $150,000 and borrowings <= 80% of the security property value (LVR) inclusive of lenders mortgage insurance (if applicable), with Principal and Interest repayments. The discounted rate (currently 3.59% p.a.) is calculated by subtracting a discount of 2.11% from the Standard, Standard Variable Rate (currently 5.70% p.a.). The discounted rate is only applicable to the Standard Variable loan while the loan remains in a Home Package Plus. The discounted rate is available on eligible loans applied for from 4 December 2019. Rates and discounts are subject to change. Pre-approvals excluded.

1 $2,000 Cash Bonus
The Home Loan Cash Bonus (the “Cash Bonus”) is applicable when you are approved for and settle an Eligible Home Loan with Suncorp Bank. An Eligible Home Loan is a home loan that is: (1) applied for between 2 September – 31 January 2020 and settled by 30 April 2020; (2) a loan amount of at least $250,000 in new to bank lending with a Loan to Value Ratio of 90% or less; (3) Purchase or Refinance, for Owner Occupied or Investment purposes (4) a Standard Variable or 1, 2, 3 or 5 Year Fixed Rate loan in the Home Package Plus; (5) Back to Basics & Line of Credit / Access Equity is excluded, except when application is split with another eligible loan product of at least $250,000; (6) not established in the name of a company, business or trust. Refinancing of an existing Suncorp Bank home loan or pre-approvals are ineligible for the Cash Bonus. The Cash Bonus cannot be taken in conjunction with “Switch & Save” Offer or any other cash promotional offer, unless expressly stated otherwise. A limit of one (1) payment of $2,000 will be made to a borrower and if there is more than 1 borrower one (1) payment will be made to them jointly. Each borrower, whether individually or jointly, can only ever receive a payment of $2,000 once. If any of the borrowers have received a payment whether individually or jointly under the Cash Bonus previously then no further payments will be made. The $2,000 cash payment will be credited to the linked Everyday Options account which forms part of the Home Package Plus, within 30 days of the settlement date. Suncorp Bank reserves the right to vary or withdraw the Cash Bonus at any time. Applications subject to credit approval. Fees, and charges may be applicable. Full terms and conditions will be included in our loan offer. Depending on your financial circumstances, you should obtain independent advice before making any decisions regarding the Cash Bonus.

2 First Home buyer – No annual ongoing fee
Applicable for Owner Occupier First Home Buyers who have never previously purchased a property. All applicants for the loan must be first home buyers and take out an Eligible Home Loan with Suncorp Bank. An eligible home loan is a First Home Buyers Standard Variable Special Offer or First Home Buyers 5 Year Fixed Rate Special Offer with minimum new home lending in the Home Package Plus of $150,000. The annual package fee of $375 will be charged and refunded for the life of the loan, expiring only if the loan is closed or varied out of the product or package. Offer valid from 12/09/2017 and is subject to change without notice and may be withdrawn at any time before a credit contract is entered into.

3 Home Package Plus – annual fee waiver
Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into.

# COMPARISON RATE WARNING:
Each comparison rate is based on $150,000 over 25 years. 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. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Please read the relevant Product Information Document and the 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.

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.