Rates and fees verified as correct at 03 August, 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. | 3.17% p.a. | $0.00 | $0 | ||
| 2.54% p.a. | 2.96% p.a. | $0.00 | $0 | ||
| 2.69% p.a. | 3.11% 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.
916 Reviews
Avoid using this bank for a home loan. The company they use to handle settlements (First Mortgage Services) is completely useless. Our settlement has been delayed for over 2 months which caused us to have to pay about $4000 in land tax. When our conveyancer tried to speak with them to sort it out they are dealing with at least an hour on hold before speaking with anyone.
Read full reviewAvoid using this bank for a home loan. The company they use to handle settlements (First Mortgage Services) is completely useless. Our settlement has been delayed for over 2 months which caused us to have to pay about $4000 in land tax. When our conveyancer tried to speak with them to sort it out they are dealing with at least an hour on hold before speaking with anyone.
Worst banking experience of my life, took 5 months for them to finally approve my loan when I had $80000 deposit and already own a property. Then sent out wrong contract, then the second attempt no contract, finally got the contract with a week till settlement. Just when you think things couldn’t get any worse the bank and settlement team didn’t communicate so my settlement was delayed which in turn meant I had breached the 14 day settlement clause which was part of my land purchase contract so suffered penalties. I would never recommend Suncorp to anyone they have made what was supposed to be an exciting time for me horrendous. Good one Suncorp
Read full reviewWorst banking experience of my life, took 5 months for them to finally approve my loan when I had $80000 deposit and already own a property. Then sent out wrong contract, then the second attempt no contract, finally got the contract with a week till settlement. Just when you think things couldn’t get any worse the bank and settlement team didn’t communicate so my settlement was delayed which in turn meant I had breached the 14 day settlement clause which was part of my land purchase contract so suffered penalties. I would never recommend Suncorp to anyone they have made what was supposed to be an exciting time for me horrendous. Good one Suncorp
Customer service representative are always rude. Every single one hang up the phone give you a smart@$$ answer and very unprofessional, if you applied a loan or try to negotiate with interest rate they will say some reason and will not give you an interest rate which other bank gives you without negotiation. Service is horrendous and they can't even track record. Luckily I came out of the bank.
Read full reviewCustomer service representative are always rude. Every single one hang up the phone give you a smart@$$ answer and very unprofessional, if you applied a loan or try to negotiate with interest rate they will say some reason and will not give you an interest rate which other bank gives you without negotiation. Service is horrendous and they can't even track record. Luckily I came out of the bank.
Just a call for any support doesn't give a customer doubt but help.
Read full reviewJust a call for any support doesn't give a customer doubt but help.
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.
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.