For more than a century, Suncorp Bank has been providing Australians with reliable personal and business banking services. Suncorp Bank operates nationally across 200 branches and its customers enjoy access to an extensive ATM network.
If you’re wondering whether a Suncorp Bank home loan is a good fit for you, you’re on the right page! We’ve done all the legwork for you by breaking down all the rates and features of Suncorp Bank’s various home loans (i.e. fixed, variable, package) to help you make a good decision.
Rates and fees verified as correct at 24 July, 2017. Other information correct at the time of writing.
If you’re particularly budget conscious, a Fixed Rate Loan from Suncorp Bank may be a good idea because you’ll know exactly how much you’ll be paying back each month. The fixed rate is available on loans starting from $10,000 and you can borrow up to 95% of your property’s value if you’re an owner occupier or up to 90% if you’re an investor. There are an extensive range of fixed terms to choose from including 1, 2, 3 or 5 years and principal and interest as well as interest only repayments (up to 5 years) are available. There is a monthly fee to consider but you can offset this cost by opting to make additional repayments on a regular basis (up to $500 per month without penalty) and reduce the interest you’ll pay over the life of the loan.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.44% p.a. | 5.63% p.a. | $10.00 monthly | $600 | ||
| 3.94% p.a. | 5.27% p.a. | $10.00 monthly | $600 |
From a no frills, basic option to a home loan with all the bells and whistles, you can choose a Suncorp Bank variable rate loan to suit whatever your personal or investment goals. Suncorp Bank’s variable home loans allow you to repay your loan on your own terms with an extra repayment facility, cashback feature (one free redraw per month, minimum $1000) and a choice between a weekly, fortnightly or monthly repayment cycle. The Back to Basics Home Loan lets you to skip any unnecessary features and a monthly service fee but if you want access to an offset account, you may choose the standard variable option (offset account fee may apply). Variable rates are available on loans of $10,000 or more and principal and interest or interest only repayment options are available.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 5.36% p.a. | 5.41% p.a. | $0.00 | $600 | ||
| 4.97% p.a. | 5.04% p.a. | $0.00 | $990 | ||
| 4.97% p.a. | 5.02% p.a. | $0.00 | $600 | ||
| 4.03% p.a. | 4.04% p.a. | $0.00 | $0 | ||
| 3.78% p.a. | 3.79% p.a. | $0.00 | $0 | ||
| 5.99% p.a. | 6.15% p.a. | $10.00 monthly | $600 | ||
| 5.55% p.a. | 5.71% p.a. | $10.00 monthly | $600 | ||
| 5.55% p.a. | 5.74% p.a. | $10.00 monthly | $990 |
Fixed rates on Suncorp Bank’s Home Package Plus are available for 1 year up to a period of 5 years on loans starting from $150,000. When you choose a home loan package from Suncorp Bank, you’ll be rewarded with a discounted home loan interest rate as well as special offers and discounts on linked financial services including insurance, credit cards and personal loans. There is also a bundle of flexible repayment features such as an extra repayment facility (up to $500 in additional repayments per month) and a split loan facility where you can divide your home loan between a fixed and variable rate in any way you choose. There is an annual package fee to consider.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.29% p.a. | 5.34% p.a. | $375.00 yearly | $0 | ||
| 3.79% p.a. | 4.61% p.a. | $375.00 yearly | $0 | ||
| p.a. | n/a | $375.00 yearly | $0 | ||
| p.a. | n/a | $375.00 yearly | $0 | ||
| p.a. | n/a | $375.00 yearly | $0 |
Owner occupiers and investors borrowing a minimum of $150,000 can opt for a variable rate with Suncorp Bank’s Home Package Plus. On top of a discounted home loan interest rate as well as special offers on other financial services (i.e. insurance, credit cards and personal loans, where eligible), you’ll be able to take advantage of money saving features including an extra repayment facility and offset account. Whenever you need to free up funds for other commitments, a redraw facility (minimum $1,000) is available or you can opt to take a repayment holiday providing you’re well ahead on your repayments. Make sure you factor in the annual package fee if you’re weighing up whether Suncorp Bank’s home loan package is right for you.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.80% p.a. | 5.16% p.a. | $375.00 yearly | $0 | ||
| 3.89% p.a. | 4.27% p.a. | $375.00 yearly | $0 | ||
| 3.89% p.a. | 4.27% p.a. | $375.00 yearly | $0 | ||
| 3.89% p.a. | 4.27% p.a. | $375.00 yearly | $0 | ||
| 5.24% p.a. | 5.60% p.a. | $375.00 yearly | $0 | ||
| 4.40% p.a. | 4.77% p.a. | $375.00 yearly | $0 | ||
| 4.40% p.a. | 4.77% p.a. | $375.00 yearly | $0 | ||
| 4.40% p.a. | 4.77% p.a. | $375.00 yearly | $0 | ||
| 4.84% p.a. | 5.20% p.a. | $375.00 yearly | $0 | ||
| 4.84% p.a. | 5.20% p.a. | $375.00 yearly | $0 | ||
| 4.84% p.a. | 5.20% p.a. | $375.00 yearly | $0 | ||
| 4.30% p.a. | 4.67% p.a. | $375.00 yearly | $0 | ||
| 4.30% p.a. | 4.67% p.a. | $375.00 yearly | $0 | ||
| 4.30% p.a. | 4.67% p.a. | $375.00 yearly | $0 |
Whether you want to purchase shares or an investment property or just want to get on top of debt, Access Equity from Suncorp Bank is a line of credit loan that allows you to use the equity in your property to do all these things and more. As its name suggests, Access Equity rewards borrowers with great access to their home loan via any Suncorp and Bendigo Bank ATM, in branch, EFTPOS, BPay, Visa Debit as well as phone, Internet or mobile banking. When it comes to repaying a line of credit home loan, there is no set monthly repayment but you’ll need to ensure your total loan balance remains within the approved credit limit. There is also a monthly service fee to consider. Suncorp Bank’s line of credit loan is available from $10,000 and lets you borrow up to 90% of the property’s value.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee |
|---|---|---|---|---|
| 6.02% p.a. | n/a | $10.00 monthly | $600 |
| Deposit KickStart optionDeposit KickStart option | Available to owner occupiers on Suncorp Bank’s standard variable and fixed rate loans, the Deposit KickStart option lets you use the equity in the existing home of a family member as security for the purchase of your new home (terms and conditions apply). |
| Extra repayment facilityExtra repayment facility | Ease the burden of interest over the life of your home loan by making additional repayments whenever you can afford to. The variable options from Suncorp Bank allow for unlimited extra repayments and you can make up to $500 a month in additional repayments on the Fixed Rate Loan. |
| Special offersSpecial offers | From a discounted interest rate on your home loan to waived fees on your credit cards and personal loans, there are plenty of special offers to take advantage of when you sign up to Suncorp Bank’s Home Package Plus. |
| Repayment frequencyRepayment frequency | Choose between a weekly, fortnightly or monthly repayment cycle when you sign up for a home loan with Suncorp Bank. Plus, you’ll be able to choose the repayment method most convenient to you (i.e. paying directly from a Suncorp Bank transaction account, in branch, over the phone or online). |
Take your home loan research skills up a notch by heading on over to Mozo’s rate and review section to see how real Suncorp Bank customers rate their home loan on the essentials including price, features and customer service.
* Overall rating based on reviews in the past 12 months.
I've always been able to negotiate with them and they have always matched any other quotes we have got.
I've always been able to negotiate with them and they have always matched any other quotes we have got.
Elaine (QLD), reviewed 25 days ago
Suncorp have been very easy to deal with and provide a high level of service.
Suncorp have been very easy to deal with and provide a high level of service.
Mary (QLD), reviewed 26 days ago
I have recently experienced a situation with the bank where my loan rates were not applied. I believe it is imperative that people keep a close eye on their banking situation of all products and question the banks.
I have recently experienced a situation with the bank where my loan rates were not applied. I believe it is imperative that people keep a close eye on their banking situation of all products and question the banks.
Kay (QLD), reviewed 27 days ago
I have been happy with the overall service of this bank, but there are some restrictions on my loan which I am not completely happy with.
I have been happy with the overall service of this bank, but there are some restrictions on my loan which I am not completely happy with.
Amanda (QLD), reviewed about 2 months ago
They have good products and can always get a hold of someone locally who is very helpful.
They have good products and can always get a hold of someone locally who is very helpful.
Letitia (SA), reviewed 4 months ago
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.
* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
† Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.
For a quick and easy application process, it’s a good idea to round up all the docs you may need beforehand. Feel free to use this home loan application checklist as a guide and tick off as you go.
