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Suncorp Bank Home Loans

Suncorp Bank was founded in 1902 as the Queensland Agricultural Bank. It is now the fifth largest bank in Australia.

The bank has headquarters in Brisbane with branches throughout the country. Suncorp offers a range of financial products and services, including personal and home loans, credits cards, savings accounts, commercial and agribusiness banking as well as financial planning and investment services.

Suncorp Bank has won a number of awards and was named Money magazine’s Bank of the Year in 2015, the first non-major bank to win the award.

Suncorp Bank - Fixed Loan

The Suncorp Bank Fixed Loan gives customers the option of a fixed interest rate for one, two, three or five years. The laon has a minimum term of eight years and allows homebuyers to borrow up to 95 per cent of the property value. Customers can make principal and interest, or interest-only payments for up to five years, and have the ability to make additional payments of up to $500 per month without penalty. At the end of the fixed term, the loan reverts to a variable rate or can be refixed for another fixed-rate period.

Suncorp Bank - Home Package Plus Loan

The Suncorp Bank Home Package Plus Loan combines a fixed, variable or line of credit loan into a package with other Suncorp financial products, such as insurance, credit cards and other personal or home loans. Customers are charged an annual fee and receive a discounted interest rate that varies depending on the size of the loan and deposit. Repayments can be made weekly, fortnightly and monthly as either principal and interest, or interest-only for up to five years. Customers can borrow up to 95 per cent of the property value, but are given the lowest rate for loans under 80 per cent.

Suncorp Bank – Back to Basics Loan

The Suncorp Bank Back to Basics Loan is a variable rate loan that allows customers to borrow up to 95 per cent of the property value for a maximum period of 30 years. Additional repayments are permitted and customers can use a redraw facility to access these extra payments. The loan can also be split and payments can be made as interest-only for up to five years.

Suncorp Bank – Standard Variable Loan

The Suncorp Bank Standard Variable Loan is a variable loan that gives customers the ability to use their savings in a 100 per cent offset account to reduce the interest owed. Additional repayments and redraws are also permitted, with a minimum redraw of $1,000, and customers can borrow up to 95 per cent of the property value.

Suncorp Bank – Access Equity

The Suncorp Bank Access Equity Loan is a variable rate loan that gives homeowners access to the equity they own in their property as a line of credit loan. Customers can borrow up to 90 per cent of the value of their property and make additional repayments, but must keep the loan within the approved credit limit. The loan can also be split between fixed and variable interest rates.

Home Loans from Suncorp Bank

Company
Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
Suncorp Bank
Advertised Rate3.92%

Variable

Comparison Rate3.93%
Monthly Repayment$1183

over 30 years

Details
Suncorp Bank
Advertised Rate4.14%

Variable

Comparison Rate4.15%
Monthly Repayment$1215

over 30 years

Details
Suncorp Bank
Advertised Rate4.19%

Variable

Comparison Rate4.20%
Monthly Repayment$1223

over 30 years

Details
Suncorp Bank
Advertised Rate3.79%

Fixed - 3 years

Comparison Rate4.44%
Monthly Repayment$1258

over 30 years

Go To Site
Suncorp Bank
Advertised Rate3.74%

Fixed - 2 years

Comparison Rate4.46%
Monthly Repayment$1261

over 30 years

Go To Site
Suncorp Bank
Advertised Rate4.15%

Variable

Comparison Rate4.54%
Monthly Repayment$1273

over 30 years

Go To Site
Suncorp Bank
Advertised Rate3.99%

Fixed - 3 years

Comparison Rate4.78%
Monthly Repayment$1309

over 30 years

Details
Suncorp Bank
Advertised Rate3.94%

Fixed - 2 years

Comparison Rate4.82%
Monthly Repayment$1315

over 30 years

Details
Suncorp Bank
Advertised Rate4.47%

Variable

Comparison Rate4.85%
Monthly Repayment$1319

over 30 years

Go To Site
Suncorp Bank
Advertised Rate4.39%

Fixed - 1 year

Comparison Rate4.91%
Monthly Repayment$1328

over 30 years

Details
Pros
  • Flexible loan options.
  • Specialised and package loans available.
  • Extensive branch access.
Cons
  • Monthly and annual fees.
  • Limited interest-only payments.
  • High rates.
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Customer Service

Suncorp gives potential customers a number of ways to contact the bank, including a general customer phone line, as well as lines for share-trading, business and insurance. Home loan customers can also contact the bank via email, online, meet in person with a Suncorp employee at a local branch or arrange an appointment with a mobile lender. 

Customer service centre (phone)

Mobile app

Online banking

Email

Branch

Mobile banking staff

Applying and Eligibility

Suncorp Bank customers can apply for a home loan in a number of ways. Applications can be made online at the Suncorp website, by phone or by visiting a staff member at a local branch. Customers can also book an appointment with a mobile lender via the Suncorp website or by phone.

Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Personal identification.
  • Proof of income and employment.
  • Proof of other income, including rental.
  • Proof of your current debts, liabilities and loans.
  • Details of other savings and assets.

For refinancers, you will also have to provide you home loan statements for the past three months and a current payout quote for the loan you wish to refinance. 

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