Rates and fees verified as correct at 21 April, 2021. Other information correct at the time of writing. Advertiser disclosure.
If you’re particularly budget conscious, the Fixed Home Loan from Suncorp Bank may be a good idea because you’ll know exactly how much you’ll be paying back each month. Eligible customers can borrow amounts from $10,000 and up to 95% of the 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 rates to choose from depending on how long you want to lock in for, including 1, 2, 3 or 5-year terms as well as the choice between interest-only (up to 5 years) or principal and interest repayments. There is a monthly fee to consider, but you may or may not find this worthwhile given that you'll be able to make additional repayments towards the loan (free up to $500 per month) in order to pay it off faster.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 2.89% p.a. | 4.59% p.a. | $10.00 monthly | $600 | ||
| 2.44% p.a. | 4.47% p.a. | $10.00 monthly | $600 | ||
| 2.94% p.a. | 4.94% p.a. | $10.00 monthly | $600 | ||
| 3.73% p.a. | 5.14% p.a. | $10.00 monthly | $600 |
From the no frills, low cost Back to Basics loan to the Standard Variable Loan with all the bells and whistles, Suncorp Bank has a variable rate loan to suit the needs of all kinds of owner occupier or investor borrowers. Both variable home loans allow you to repay your loan on your own terms with an extra repayments feature and a redraw facility, plus the choice between a weekly, fortnightly or monthly repayment cycle. The Back to Basics option lets you skip any unnecessary features and a monthly service fee, but if you want access to an offset account and you're happy to pay a monthly service fee you'll want to choose the Standard Variable Loan. Both loans are available on lending 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 | |
|---|---|---|---|---|---|---|
| 4.40% p.a. | 4.47% p.a. | $0.00 | $990 | |||
| 4.57% p.a. | 4.47% p.a. | $0.00 | $600 | |||
| 4.40% p.a. | 4.45% p.a. | $0.00 | $600 | |||
| 3.09% p.a. | 3.10% p.a. | $0.00 | $0 | |||
| 2.44% p.a. | 2.45% p.a. | $0.00 | $0 | Go to site | ||
| 2.94% p.a. | 2.73% p.a. | $0.00 | $0 | |||
| 2.59% p.a. | 2.60% p.a. | $0.00 | $0 | Go to site | ||
| 5.15% p.a. | 5.20% p.a. | $10.00 monthly | $600 | |||
| 4.98% p.a. | 5.14% p.a. | $10.00 monthly | $600 | |||
| 4.98% p.a. | 5.17% p.a. | $10.00 monthly | $990 | |||
| 5.24% p.a. | 5.00% p.a. | $0.00 | $600 | |||
| 4.82% p.a. | 4.83% p.a. | $0.00 | $600 | |||
| 3.09% p.a. | 3.03% p.a. | $0.00 | $0 | |||
| 2.99% p.a. | 3.00% p.a. | $0.00 | $0 | |||
| 2.89% p.a. | 2.84% p.a. | $0.00 | $0 | |||
| 2.79% p.a. | 2.80% p.a. | $0.00 | $0 | |||
| 5.87% p.a. | 5.77% p.a. | $10.00 monthly | $600 | |||
| 5.45% p.a. | 5.61% p.a. | $10.00 monthly | $600 |
Borrowers looking for a package home loan deal will have two options to choose from: the Fixed Home Loan (Home Package Plus) which is available to both owner occupiers and investors or the Fixed Home Loan First Home Buyer (Home Package Plus) which is only open to owner occupiers who have never purchased a property before. Both home loans are available on amounts starting from $150,000, but while the Fixed Home Loan comes with 1, 2, 3 or 5-year fixed rate options, the First Home Buyer package comes with a single 5-year fixed rate. When you choose a home loan package from Suncorp Bank, you’ll be rewarded with a number of special offers and discounts on insurance and credit cards. There is an annual package fee to consider though, but you can find out more about the fees and features of both loans in the linked reviews below.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments | |
|---|---|---|---|---|---|---|
| 2.74% p.a. | 3.87% p.a. | $375.00 yearly | $0 | |||
| 2.29% p.a. | 3.76% p.a. | $375.00 yearly | $0 | |||
| p.a. | n/a | $0.00 | $0 | |||
| p.a. | n/a | $0.00 | $0 | |||
| 2.09% p.a. | 2.93% p.a. | $375.00 yearly | $0 | Go to site | ||
| 1.99% p.a. | 2.83% p.a. | $375.00 yearly | $0 | Go to site | ||
| 2.79% p.a. | 4.21% p.a. | $375.00 yearly | $0 | |||
| 2.58% p.a. | 4.17% p.a. | $375.00 yearly | $0 | |||
| 2.69% p.a. | 3.39% p.a. | $375.00 yearly | $0 | |||
| 2.49% p.a. | 3.20% p.a. | $375.00 yearly | $0 | |||
| 2.48% p.a. | 3.34% p.a. | $375.00 yearly | $0 | |||
| 2.28% p.a. | 3.15% p.a. | $375.00 yearly | $0 |
Owner occupiers and investors borrowing a minimum of $150,000 can opt for a variable rate package with Suncorp Bank via the Standard Variable Loan (Home Package Plus) offer. On top of special offers on other Suncorp financial services (e.g. insurance and credit cards), borrowers will be able to take advantage of money saving features including extra repayments, a redraw facility and an offset account. 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 though.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 3.73% p.a. | 4.12% p.a. | $375.00 yearly | $0 | ||
| 2.99% p.a. | 2.87% p.a. | $0.00 | $0 | ||
| 2.54% p.a. | 2.55% p.a. | $0.00 | $0 | ||
| 2.69% p.a. | 2.70% p.a. | $0.00 | $0 | ||
| 2.99% p.a. | 3.14% p.a. | $375.00 yearly | $0 | ||
| 2.54% p.a. | 2.96% p.a. | $375.00 yearly | $0 | ||
| 2.69% p.a. | 3.11% p.a. | $375.00 yearly | $0 | ||
| 3.90% p.a. | 4.15% p.a. | $375.00 yearly | $0 | ||
| 2.99% p.a. | 3.29% p.a. | $375.00 yearly | $0 | ||
| 3.19% p.a. | 3.20% p.a. | $375.00 yearly | $0 | ||
| 2.89% p.a. | 3.30% p.a. | $375.00 yearly | $0 | ||
| 3.09% p.a. | 3.17% p.a. | $375.00 yearly | $0 | ||
| 4.62% p.a. | 4.72% p.a. | $375.00 yearly | $0 | ||
| 4.20% p.a. | 4.58% p.a. | $375.00 yearly | $0 |
Available to owner occupiers on Suncorp Bank’s standard variable and fixed rate loans, the Deposit KickStart option lets you use the existing equity in the home of a family member as security for the purchase of your new home. This could be useful for eligible borrowers who don't have a 20% deposit saved up, but want to avoid paying Lenders Mortgage Insurance.
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, while their fixed rate loans also allow extra repayments (though at a cap of $500/month).
From a discounted interest rate on your home loan to waived fees on your credit cards, there are plenty of special offers to take advantage of when you sign up to one of Suncorp Bank’s Home Package Plus offers.
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).
Mozo users have rated Suncorp home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
912 Reviews
The Suncorp customer service has really gone bad in the last year. Long waiting times then the call centre puts you on hold again for another long wait. Staff have given me the wrong information that has cost me money. I call three times and get three different answers to the same questions. Previously I would call the local branch manager and she would always get me a better deal. She would also fix problems in a matter of minutes. Suncorp closed my local branch and now I have to contend with long waits and wrong information. I’m writing this while on hold again. I’m looking forward to changing banks.
Read full reviewThe Suncorp customer service has really gone bad in the last year. Long waiting times then the call centre puts you on hold again for another long wait. Staff have given me the wrong information that has cost me money. I call three times and get three different answers to the same questions. Previously I would call the local branch manager and she would always get me a better deal. She would also fix problems in a matter of minutes. Suncorp closed my local branch and now I have to contend with long waits and wrong information. I’m writing this while on hold again. I’m looking forward to changing banks.
I have realised that my stamp duty exemption may not have been applied despite requesting for a first home owner's grant with Suncorp. Wanting to get clarification, the online secure message takes days to receive a reply and it takes hours to get a call back. Even with the call back, I was on hold for a further 30 mins with no one attending to me and giving up. I even took the initiative to call the local branch TWICE and they promised to call me back which they didn't. Visited the branch as well and they said they would need to contact the home loan department and contact me to which they haven't. This is so disappointing and would never recommend.
Read full reviewI have realised that my stamp duty exemption may not have been applied despite requesting for a first home owner's grant with Suncorp. Wanting to get clarification, the online secure message takes days to receive a reply and it takes hours to get a call back. Even with the call back, I was on hold for a further 30 mins with no one attending to me and giving up. I even took the initiative to call the local branch TWICE and they promised to call me back which they didn't. Visited the branch as well and they said they would need to contact the home loan department and contact me to which they haven't. This is so disappointing and would never recommend.
Never have to wait overly long to speak to anyone, always meet with helpful friendly staff. Almost every time I have called they have offered to do a loan health check and I come away with a reduced interest rate. Best bank i have ever dealt with, i'm on my 2nd homeloan with them.
Read full reviewNever have to wait overly long to speak to anyone, always meet with helpful friendly staff. Almost every time I have called they have offered to do a loan health check and I come away with a reduced interest rate. Best bank i have ever dealt with, i'm on my 2nd homeloan with them.
Other banks seem to always have lower interest rates for the same product. It isn't until you ask that they look into it for you. This, to me, should happen automatically. If they can do a better offer, then they should offer it before you have to ask for it.
Read full reviewOther banks seem to always have lower interest rates for the same product. It isn't until you ask that they look into it for you. This, to me, should happen automatically. If they can do a better offer, then they should offer it before you have to ask for it.
I had some financial difficulties during the Covid period. They were wonderful and I could not have asked for better assistance.
Read full reviewI had some financial difficulties during the Covid period. They were wonderful and I could not have asked for better assistance.
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.
