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Saving for a home loan deposit

For most of us, saving thousands for a deposit isn’t easy. Through smart planning, careful spending and regular saving, you can make it happen.

Get into your new home sooner

The total deposit you need will mostly depend on the price of the property you want to buy. Most lenders recommend a deposit of at least 20% of a home’s purchase price.

If you’re just getting started, decide how much you can afford to save every month and transfer that amount into a designated home savings account. If possible, set up an automated transfer, so when you get paid, you pay yourself first, prioritising your savings goals.

If you’re a first home buyer, get to know the special grants and savings schemes available to you. And don’t forget to celebrate savings milestones as you get closer to your goal.

We understand that saving for a deposit is a substantial undertaking. That’s why Suncorp Bank has created our Deposit KickStart and Low Deposit Option 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 can avoid the need of paying Lenders Mortgage Insurance without the 20% deposit.1

Low Deposit Option

Our low deposit option enables you to borrow up to 95 percent of the property’s confirmed value, and is available to eligible owner-occupiers.2

Need help? Meet with a local Suncorp home loan specialist or call 13 11 15.

Make your next move with confidence

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.

Save time, get started online

Are you buying a home or looking to refinance?
You can apply online in around 10 minutes.

What can I expect?

100% obligation free advice

Our experienced home lending team are happy to answer all your questions.
They'll call you within 24 hours to discuss your home lending needs.

If you’d like to speak to someone straightaway, please call 13 11 55 Mon-Fri 8am-7pm and Sat-Sun 9am-5pm (AEST)

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).

© Copyright Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”). Registered office: Level 23, 80 Ann Street, Brisbane QLD 4000. In accessing Suncorp's site you agree to our Online Terms & Privacy Statement. Please ensure that you read these before accessing the site.

Banking Products and Home Loans 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.

Products and services including banking, superannuation and insurance (including home and car insurance) are provided by separate companies in the Suncorp Group. Each entity is not responsible for, or liable in respect of, products and services provided by other entities of the Suncorp Group. Suncorp Bank is only liable for the banking products or services it provides and not the products and services of other companies in the Suncorp Group.

The information is intended to be of general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.