Suncorp Home Loans

Read on to compare some of Suncorp’s key home loan interest rates and the key features they have.

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Summary

About Suncorp Bank

Suncorp is a Queensland-based financial institution that first launched in 1902 as an agricultural bank. Today, Suncorp employs more than 13,000 people and has more than nine million customers across Australia and New Zealand.

Suncorp offers personal and business bank products and services such as savings accounts, home loans, car loans, credit cards, term deposits, insurance, and superannuation.

What home loans does Suncorp offer?

Suncorp has home loans for owner-occupiers, refinancers, property investors and other types of borrowers.

Suncorp home loan interest rates

Suncorp’s main home loan products include:

  • Back to Basics home loan: A basic Suncorp home loan with no ongoing account keeping fees and a competitive interest rate.
  • Standard Variable home loan: A variable home loan with 100% offset account and redraw facility.
  • Fixed home loan: A fixed-rate home loan for up to five years that allows you to make additional repayments of up to $500 per month with no penalty.

You can find a complete list of Suncorp home loan interest rates here, as well as the other home loan products it offers.

Suncorp Bank variable home loans

Company Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
 
Back to Basics OO P&I Special <90% 3.29% 3.30% $1,750 More details
Back to Basics Inv P&I Special <90% 3.59% 3.60% $1,816 More details
Back to Basics Inv IO Special <90% 3.79% 3.67% $1,862 More details
Standard Variable OO P&I <95% 5.38% 5.57% $2,241 More details
Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
Back to Basics OO P&I Special <90%
3.29% 3.30% $1,750
More details
Back to Basics Inv P&I Special <90%
3.59% 3.60% $1,816
More details
Back to Basics Inv IO Special <90%
3.79% 3.67% $1,862
More details
Standard Variable OO P&I <95%
5.38% 5.57% $2,241
More details

Base criteria of: a $400,000 loan amount, variable home loans with LVR of less than 90%. Introductory rate products were not considered for selection. This table includes only a snapshot of the lender’s products, not all of them. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term. *Rates correct as at 3 September 2019.

Suncorp Bank fixed home loans

Company Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
 
Fixed Rate 3yrs OO P&I <95% 3.44% 5.04% $1,783 More details
Fixed Rate 2yrs OO P&I <95% 3.54% 5.22% $1,805 More details
Fixed Rate 2yrs Inv P&I <90% 3.94% 5.64% $1,896 More details
Fixed Rate 3yrs Inv P&I <90% 3.94% 5.48% $1,896 More details
Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
Fixed Rate 3yrs OO P&I <95%
3.44% 5.04% $1,783
More details
Fixed Rate 2yrs OO P&I <95%
3.54% 5.22% $1,805
More details
Fixed Rate 2yrs Inv P&I <90%
3.94% 5.64% $1,896
More details
Fixed Rate 3yrs Inv P&I <90%
3.94% 5.48% $1,896
More details

Base criteria of: a $400,000 loan amount, fixed home loans with LVR of less than 90%. Introductory rate products were not considered for selection. This table includes only a snapshot of the lender’s products, not all of them. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term. *Rates correct as at 3 September 2019.

Suncorp mortgage features

Suncorp offers a variety of home loan features for mortgage borrowers and investors. Some key features of Suncorp mortgages can include:

  • 100% mortgage offset: Some Suncorp home loans allow you to save on interest by linking the loan to a Suncorp Everyday Options bank account that can be put in “offset mode”.
  • Suncorp package: For an annual fee, you can bundle other Suncorp products (like bank accounts and credit cards) into your home loan, while also obtaining interest rate discounts.
  • Redraw facility: Suncorp Cashback lets you withdraw additional repayments you’ve made via internet banking.
  • Split option: You can split your loan with a Standard Variable Rate home loan or Access Equity Line of Credit.

How to apply for home loan with Suncorp Bank

Eligibility criteria

Before you can apply for Suncorp home loans, you must meet the following requirements:

  • You must be at least 18 years of age
  • You must be an Australian resident
  • You must be employed or earning a steady income
  • You must have a good credit history for the past five years
  • You must not be bankrupt or insolvent
  • You must not have any past or present claims or judgements against you

If you meet all the requirements, you can get started with your home loan application by completing a pre-approval application form online. You can also speak with a home loan lending specialist in a branch or call 13 11 55 to request a callback.

Documents needed

To apply for a Suncorp home loan you’ll probably need the following documents:

  • Personal ID such as a Driver’s license, Australian Passport, Medicare card etc.
  • Proof of income, such as your latest PAYG statement for the last three months
  • If you’re self-employed, your last two years of tax returns and a notice of assessment from the ATO
  • Proof of residence if you are a homeowner or a tenancy agreement if you are renting
  • Asset and liability documents
  • Proof of savings, term deposits, managed funds etc.
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