We're here for our home loan customers

If you are able to make payments, even if only part payments, we encourage you to do so. However, if you are still experiencing financial hardship and are unable to make repayments, we will assess your circumstances and the options available to you as we approach the end of your deferral period.

We appreciate this is an uncertain and stressful time. We will assess your circumstances and work through your options with you as the end of the payment deferral period approaches. The four-month extension is not automatic for all customers and subject to an assessment process, so we will work with you to assess your circumstances. 

All existing Suncorp home or personal loan customers who have been impacted by COVID-19 and require assistance may apply for financial support (eligibility criteria applies).   

To apply, please complete the COVID-19 Assistance Online Request Form, or call us on 13 11 55. Please note, we’re currently experiencing long call wait times, so if you are able to, we suggest submitting the form online.

We don’t require any supporting documents with your initial application. If we do need additional information from you, someone from our specialist team will get in touch.

As an essential service, all Suncorp Stores across Australia are remaining open. If you prefer to visit a store to apply for financial assistance, please only do so if you’re feeling well, are not in precautionary self isolation, and have not been exposed to anyone diagnosed with COVID-19. We also ask that you practice recommended social distancing when interacting with Suncorp team members.

If you can, we encourage you to go online and complete a Financial Assistance Request Form or call us on 13 11 55. Please be aware, we are currently currently experiencing longer than usual call wait times.

When you submit your application online, you will be navigated to a confirmation page. If you’ve submitted your application over the phone or in store you will be advised by email once your application has been received. 

Once your application has been assessed, next steps will depend on the outcome:

• Approved: we’ll call you to advise that your application has been approved, as well as send you a letter in the mail to confirm. The approved support will be applied to your loan/s as soon as possible. 
• Additional information required: one of our specialists will contact you on the phone number listed on your application to request further information. 
• Declined: we’ll call you to advise that your application has been declined, as well as send you a letter in the mail to confirm. 

We’re currently experiencing higher than usual volumes which may impact processing times.

If approved, your financial assistance will commence from the date you submitted the application.

If your application for financial assistance is declined, you may still have other options you can access to alleviate some of your monetary stress:

Eligible customers with variable home loans may be able to access their cashback to assist with expenses. Find out more about using your cashback here.

Eligible customers who have made additional repayments on their home or personal loan and are in advance may be able to reduce or suspend their repayments. Find out more about modifying your repayments here.

If you’re unhappy with the outcome of your application and would like to speak to someone about it, please contact our Customer Relations team on 1800 689 762 or send them a message online.

As we’re currently experiencing a high volume of requests, it may take longer than usual to process your application – up to 21 days in some cases. We appreciate that this can be a stressful and anxious time for you, and thank you for your patience and understanding. Rest assured that our team is working hard and dedicated to getting back to you as quickly as possible.

If approved, a payment pause or deferral will not show up as a missed payment in your consumer credit report. You can find out more about how your credit score and credit report may be affected by visiting CreditSmart.

If you’ve been approved to defer your home or personal loan, you’re not required to make any repayments on your home or personal loan for the approved period. At the end of the approved period, any monthly interest that should have been paid as part of your contracted loan repayment during that time will be added (capitalised) on top of your loan balance.

This means that your monthly payments will change when your repayments recommence, to ensure your loan is repaid within your remaining loan term. For example, the amount required may be higher than current repayments and you may incur a higher amount of interest over the life of the loan. Alternatively, your loan term may be extended to keep your repayments at the same amount. To find out if you are eligible for this option please call us 13 11 55

If eligible, you can apply for an initial deferral of three months repayments on your loan, with a further three months extension available after review (and pending approval).

We will contact you two weeks prior to the relief end date to confirm if you require further financial assistance. Alternatively, you can contact us on 13 11 55.

If you’ve been approved to pay only the interest on your home loan, you’ll just have to make the interest repayments towards your home loan for the approved period. You won’t need to pay the principal part of your loan for that time.

At the end of the approved period, when your regular repayments recommence, your monthly payments will be adjusted accordingly to ensure your loan is still repaid within the remaining loan term. For example, the amount required may be higher than current repayments and you may incur a higher amount of interest over the life of the loan.

Alternatively, your loan term may be extended to keep your repayments at the same amount. To discuss this option please call us 13 11 55.

If you are approved to move to interest only repayments, we will advise you and provide you with a direct debit form that will automatically debit the interest repayment from your account on the due date each month. You can get an estimate of what the interest only repayment will be each month by using our online repayment calculator

If, at the end of the approved period, you require further financial assistance, you can re-apply. To do so, you’ll need to contact us on 13 11 55.

If you’ve previously made additional repayments on your home or personal loan and are in advance, you may be able to reduce or suspend your repayments. You can do this up to the value of your advance payments. For example, if your monthly repayments are $200, and you’re in advance of $400, you can pause your repayments for up to 2 months.

You can easily check if your home or personal loan repayments are in advance online.

Through Internet Banking:

• Log in to Internet Banking
• Click on your account number
• The ‘Summary’ will display how much you are in advance by (if any)

Through the Suncorp App:

• Launch the Suncorp App
• Go to the ‘Banking’ tab and tap on the relevant loan account
• Select ‘Account Details’
• If your loan is in advance, you’ll see a heading that says ‘Payments in Advance’. Under this, you’ll see the amount you’re in advance by

Through the mobile app:

• Launch the Suncorp Bank mobile app
• Select the relevant Loan Account
• On the ‘Transactions’ screen, select the ‘i’ icon in the top right corner
• Your account details will be displayed, including any amount you’ve paid in advance

If your repayments are in advance, and you pay your loan through recurring payments, you can suspend them online at any time:

Through Internet Banking:

• Log in to Internet Banking
• Click ‘Transfer Money’ on the left side menu
• Scroll down until you see ‘Future Dated Transfers’
• Select ‘Edit’ or ‘Cancel’ next to the transfer you wish to suspend. It’s important to double check everything in the ‘Edit’ option as it defaults back to ‘immediate’ timing

Through the Suncorp App:

• Launch the Suncorp App
• On the ‘Banking’ tab, tap on the ‘Manage’ button in the top right corner
• Select ‘Scheduled Payments’, and then the transfer you wish to suspend
• Tap ‘Edit Payment’ or ‘Delete Payment’. If you do delete the transfer, you can easily set it back up again online

Through the mobile app:

• Launch the Suncorp Bank mobile app
• Tap the menu on the top left corner with 3 horizontal lines
• Select ‘Transfers and payments’, and then ‘Scheduled’ Tap the transfer you wish you suspend
• You can edit the amount, frequency or next payment date on this screen, or tap ‘Cancel’ transfer to cancel it completely. You can easily set it back up again online when you’re ready

If you usually pay your loan through direct debit payments, you’ll need to contact us to suspend or modify your repayments.

You may be able to access cashback to help with your expenses, depending on the type of home loan you have.

Variable home loans

If you have a variable home loan, and have made additional repayments, you can access cashback up to the value of the advance repayments, minus the value of one monthly repayment.

Fixed home loans

If you have a fixed home loan, and you’ve been affected financially by COVID-19, you’ll need to apply for financial assistance. Please fill out the COVID-19 Assistance Online Request Form, or call us on 13 11 55.

You can easily check if you’ve made additional repayments on your variable home loan, and the balance of your available cashback, online.

Through Internet Banking:

• Log in to Internet Banking
• Click on your account number
• The ‘Summary’ will display how much you are in advance by (if any)

Through the Suncorp App:

• Launch the Suncorp App
• Go to the ‘Banking’ tab and tap on the relevant loan account
• Select ‘Account Details’
• If your loan is in advance, you’ll see a heading that says ‘Payments in Advance’. Under this, you’ll see the amount you’re in advance by

Through the mobile app:

• Launch the Suncorp Bank mobile app
• Select the relevant Loan Account
• On the ‘Transactions’ screen, select the ‘i’ icon in the top right corner
• Your account details will be displayed, including any amount you’ve paid in advance

If you’re registered for online cashback, you can access it easily through the following methods:

Through Internet Banking:

• Log in to Internet Banking
• Click ‘Transfer Money’ from the left side menu
• Select ‘Loan Cashback’, from under the heading ‘Set up a new transfer’
• Follow the steps from there

Through the Suncorp App:

• Launch the Suncorp App
• On the ‘Banking’ tab, tap the ‘Pay/Transfer’ button at the bottom of the screen
• Tap ‘Transfer’
• Select the relevant loan as the ‘From account’
• Select which deposit account you would like the funds to be transferred into
• Choose an amount and continue

Through the mobile app:

• Launch the Suncorp Bank mobile app
• Select ‘Transfer funds’ from the bottom menu
• Select the relevant loan as the ‘From account’
• Select which deposit account you would like the funds to be transferred into
• Choose an amount and continue

If you haven’t done so yet, you’ll find instructions on how to register for online cashback on this page.

If you’ve been approved to redraw cashback on your fixed rate home loan, the request will need to be processed by Suncorp due to the fixed interest rate loan feature limitations. Your fixed interest rate will remain unchanged.

Our dedicated team is here to help you. If you’re not sure what the best option is for you, please select ‘Discuss your options with one of our team’ in the form we’ve emailed you, and we’ll give you a call.

If you have multiple loans that have had the repayments deferred, we will apply the same assistance to all loans. If you would like different assistance applied to each loan, please select ‘Discuss your options with one of our team’ in the form and we’ll call you to discuss your options.

A payment deferral will mean that you need to pay some extra interest.  The reason for this is that when the interest is capitalized on the loan balance, you will then pay interest on that amount over the remaining term of the loan.  This may mean that your repayment is recalculated to ensure it is repaid over the term of the loan and it may increase as a result.

If you are in advance on your home loan or have enough savings to cover the loan repayments during this time, you may prefer to explore these options rather than extending your loan payment deferral for a further 3 months.

How much interest you’ll be charged if you request to defer your repayments for another 3 months depends on the specific details of your particular loan and a variety of decisions you might make regarding that loan over its lifetime. The amount can also be impacted by other variables, including interest rate changes, fees and charges, as well as the remaining loan term and balance. As an example, for a home loan of $280,000 on an interest rate of 3%, with a remaining term of 25 years, the additional interest payable on the capitalized interest would total $3150*.

*additional interest payable is indicative only

If you can afford to, opting to change to making interest only repayments on your loan will mean you avoid interest being capitalized onto the loan balance. While you will not be reducing your principal balance each month (and so your repayments will still be recalculated at the end of the interest only period), you will avoid paying additional interest on the capitalized amount.

If you are unable to make your full monthly repayment, but would still like to pay what you can, a partial repayment option could be right for you. By selecting this option on the form, and entering the amount you can pay, we’ll reduce the amount you need to pay for a period of up to 3 months.

At the end of the approved assistance period your monthly repayment will return to the full amount, and any unpaid interest or principal will be capitalized onto the loan.

We’re happy to hear that you’re ready to start making repayments again. Please click the ‘Update my Status’ button in the form and let us know you don’t require further assistance.

If you have multiple loans that have had repayments deferred, we will assess your circumstances based on the information you provide us and will contact you to discuss your options.

It is important that we assess your individual circumstances to ensure that the options we discuss with you are appropriate for you. Your assets and liabilities, income and expenses help us to understand your financial position and allow us to recommend options specific to you. 

We recommend that you complete the online form, as this allows us to collect the information, we need to assist you. If you require further assistance but do not wish to complete the online form, you do have the option to provide the information over the phone to our dedicated Customer Assist team. They will ask you the same questions that we ask in the form, so please have this information ready when you call us.

You may wish to open the form to see what information we need, and then come back to it once you’ve collected this information. Unfortunately, you will not be able to save a partially completed form and come back to it – exiting the form before clicking submit will lose any information you’ve entered.

If you hold a Small Business loan with Suncorp, you will receive an online form where you will be asked to provide details around your current situation. In most cases, if you have both Home and Small Business loans, you will only have to complete the form once. If you have a Relationship Manager or a Commercial Loan product, you will receive a separate communication shortly advising the next steps to return to repayments or request further assistance.