Important disclosure
Suncorp Bank
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.
Pros and cons
- Flexible loan options.
- Specialised and package loans available.
- Extensive branch access.
- Monthly and annual fees.
- Limited interest-only payments.
- High rates.
Owner occupied products interest rates
| Loan type | Principal & Interest rate | Interest Only |
|---|---|---|
Back to Basics Home Loan Special Offer (Min Deposit 30%) | 2.19% p.a. 2.2% p.a. Comparison rate | 2.76% p.a. 2.41% p.a. Comparison rate |
Back to Basics Home Loan Special Offer (Min Deposit 20%) | 2.32% p.a. 2.33% p.a. Comparison rate | 2.79% p.a. 2.5% p.a. Comparison rate |
Back to Basics Home Loan Special Offer (Min Deposit 10%) | 2.54% p.a. 2.55% p.a. Comparison rate | 3.19% p.a. 2.79% p.a. Comparison rate |
Home Package Plus (Min Deposit 30%) | 2.36% p.a. 2.79% p.a. Comparison rate | 2.81% p.a. 2.9% p.a. Comparison rate |
Home Package Plus (Min Deposit 20%) | 2.47% p.a. 2.9% p.a. Comparison rate | 2.94% p.a. 3.02% p.a. Comparison rate |
Home Package Plus (Min Deposit 10%) | 2.79% p.a. 3.21% p.a. Comparison rate | 4.15% p.a. 4.4% p.a. Comparison rate |
1 Year Home Package Plus (Min Deposit 10%) | 3.94% p.a. 4.37% p.a. Comparison rate | 4.28% p.a. 4.39% p.a. Comparison rate |
2 Year Home Package Plus (Min Deposit 10%) | 4.78% p.a. 4.52% p.a. Comparison rate | 5.14% p.a. 4.56% p.a. Comparison rate |
Back to Basics Home Loan (Min Deposit 10%) | n/a | 4.82% p.a. 4.72% p.a. Comparison rate |
3 Year Home Package Plus (Min Deposit 10%) | 5.14% p.a. 4.68% p.a. Comparison rate | 5.48% p.a. 4.74% p.a. Comparison rate |
5 Year Home Package Plus (Min Deposit 10%) | 5.38% p.a. 4.95% p.a. Comparison rate | 5.74% p.a. 5.05% p.a. Comparison rate |
1 Year Fixed Rate Home Loan (Min Deposit 10%) | n/a | 4.43% p.a. 5.31% p.a. Comparison rate |
2 Year Fixed Rate Home Loan (Min Deposit 10%) | n/a | 5.29% p.a. 5.4% p.a. Comparison rate |
Standard Variable Rate Home Loan (Min Deposit 10%) | n/a | 5.4% p.a. 5.45% p.a. Comparison rate |
3 Year Fixed Rate Home Loan (Min Deposit 10%) | n/a | 5.63% p.a. 5.49% p.a. Comparison rate |
5 Year Fixed Rate Home Loan (Min Deposit 10%) | n/a | 5.89% p.a. 5.65% p.a. Comparison rate |
1 Year Home Package Plus (Min Deposit 20%) | 3.64% p.a. 3% p.a. Comparison rate | n/a |
Home Package Plus (Min Deposit 5%) | 3.98% p.a. 4.37% p.a. Comparison rate | n/a |
2 Year Home Package Plus (Min Deposit 20%) | 4.48% p.a. 3.24% p.a. Comparison rate | n/a |
Back to Basics Home Loan Special Offer (Min Deposit 5%) | 3.34% p.a. 3.35% p.a. Comparison rate | n/a |
3 Year Home Package Plus (Min Deposit 20%) | 4.84% p.a. 3.49% p.a. Comparison rate | n/a |
5 Year Home Package Plus (Min Deposit 20%) | 5.08% p.a. 3.95% p.a. Comparison rate | n/a |
5 Year Home Package Plus (Min Deposit 5%) | 5.08% p.a. 4.13% p.a. Comparison rate | n/a |
Back to Basics Home Loan (Min Deposit 5%) | 4.65% p.a. 4.66% p.a. Comparison rate | n/a |
1 Year Fixed Rate Home Loan (Min Deposit 5%) | 4.09% p.a. 5.31% p.a. Comparison rate | n/a |
2 Year Fixed Rate Home Loan (Min Deposit 5%) | 4.93% p.a. 5.36% p.a. Comparison rate | n/a |
Standard Variable Rate Home Loan (Min Deposit 5%) | 5.23% p.a. 5.42% p.a. Comparison rate | n/a |
3 Year Fixed Rate Home Loan (Min Deposit 5%) | 5.29% p.a. 5.43% p.a. Comparison rate | n/a |
5 Year Fixed Rate Home Loan (Min Deposit 5%) | 5.53% p.a. 5.55% p.a. Comparison rate | n/a |
Investment purpose products interest rates
| Loan type | Principal & Interest rate | Interest Only |
|---|---|---|
Back to Basics Home Loan Special Offer (Min Deposit 30%) | 2.42% p.a. 2.43% p.a. Comparison rate | 2.76% p.a. 2.55% p.a. Comparison rate |
Back to Basics Home Loan Special Offer (Min Deposit 20%) | 2.48% p.a. 2.49% p.a. Comparison rate | 2.84% p.a. 2.62% p.a. Comparison rate |
Back to Basics Home Loan Special Offer (Min Deposit 10%) | 2.89% p.a. 2.9% p.a. Comparison rate | 2.99% p.a. 2.94% p.a. Comparison rate |
Home Package Plus (Min Deposit 30%) | 2.55% p.a. 2.97% p.a. Comparison rate | 2.86% p.a. 3.04% p.a. Comparison rate |
Home Package Plus (Min Deposit 20%) | 2.69% p.a. 3.11% p.a. Comparison rate | 2.99% p.a. 3.17% p.a. Comparison rate |
1 Year Home Package Plus (Min Deposit 20%) | 3.88% p.a. 3.21% p.a. Comparison rate | 4.28% p.a. 3.24% p.a. Comparison rate |
2 Year Home Package Plus (Min Deposit 20%) | 4.74% p.a. 3.47% p.a. Comparison rate | 5.14% p.a. 3.51% p.a. Comparison rate |
Home Package Plus (Min Deposit 10%) | 4.45% p.a. 4.83% p.a. Comparison rate | 4.87% p.a. 4.96% p.a. Comparison rate |
1 Year Home Package Plus (Min Deposit 10%) | 4.18% p.a. 4.81% p.a. Comparison rate | 4.58% p.a. 4.84% p.a. Comparison rate |
3 Year Home Package Plus (Min Deposit 20%) | n/a | 5.48% p.a. 3.78% p.a. Comparison rate |
2 Year Home Package Plus (Min Deposit 10%) | 5.04% p.a. 4.94% p.a. Comparison rate | 5.44% p.a. 5% p.a. Comparison rate |
3 Year Home Package Plus (Min Deposit 10%) | 5.38% p.a. 5.08% p.a. Comparison rate | 5.78% p.a. 5.16% p.a. Comparison rate |
5 Year Home Package Plus (Min Deposit 20%) | 5.34% p.a. 4.19% p.a. Comparison rate | 5.74% p.a. 4.27% p.a. Comparison rate |
5 Year Home Package Plus (Min Deposit 10%) | 5.64% p.a. 5.33% p.a. Comparison rate | 6.04% p.a. 5.45% p.a. Comparison rate |
Back to Basics Home Loan (Min Deposit 10%) | 5.07% p.a. 5.08% p.a. Comparison rate | 5.49% p.a. 5.25% p.a. Comparison rate |
1 Year Fixed Rate Home Loan (Min Deposit 10%) | 4.33% p.a. 5.72% p.a. Comparison rate | 4.73% p.a. 5.76% p.a. Comparison rate |
2 Year Fixed Rate Home Loan (Min Deposit 10%) | 5.19% p.a. 5.76% p.a. Comparison rate | 5.59% p.a. 5.83% p.a. Comparison rate |
3 Year Fixed Rate Home Loan (Min Deposit 10%) | 5.53% p.a. 5.81% p.a. Comparison rate | 5.93% p.a. 5.91% p.a. Comparison rate |
Standard Variable Rate Home Loan (Min Deposit 10%) | 5.7% p.a. 5.86% p.a. Comparison rate | 6.12% p.a. 6.02% p.a. Comparison rate |
5 Year Fixed Rate Home Loan (Min Deposit 10%) | 5.79% p.a. 5.9% p.a. Comparison rate | 6.19% p.a. 6.05% p.a. Comparison rate |
3 Year Fixed Investor Package Home Loan (Min Deposit 20%) | 5.08% p.a. 3.72% p.a. Comparison rate | n/a |
Home loan repayment calculator
Thinking about taking out a home loan with Suncorp Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Suncorp Bank home loans compare with other options.
Your estimated mortgage repayments
at interest rate 2.19%
Total interest payable
$0
Total loan repayments
$0
Contact a mortgage broker
Suncorp Bank homeloans are vailable through brokers who can help find the right loan and manage your application at no charge.
Suncorp Bank top home loans products
Suncorp Bank 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
- Branch
- Mobile banking staff
How to Apply
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.
Learn more about home loans
How can I apply for a first home buyers loan with Commonwealth Bank?
Getting a home loan requires planning and research. If you are considering a home loan with the Commonwealth Bank, you can find the information you need in the buying your first home section of the bank’s website.
You can see the steps you should take before applying for the loan and use the calculators to work out how much you can borrow, what your monthly repayments would be and the upfront costs you’d likely pay.
You can also book a time with a Commonwealth first home loan specialist by calling 13 2221.
CommBank publishes a property report that may help you understand the real estate market. The bank has also created a CommBank Property App that you can use to search for property. The link to download this app is available on the same webpage.
If you are eligible for the First Home Loan Deposit Scheme, CommBank will help you process your application. The scheme helps first home buyers to purchase a home with a low deposit. You can read details about this scheme here and speak with a CommBank home lending specialist to understand your options.
How to apply for a pre-approval home loan from Bendigo Bank?
Applying for pre-approval on your home loan gives you confidence in your ability to secure finance while looking at potential new homes. You can get a free and personalised pre-approval home loan from Bendigo Bank in just a few minutes, without any credit checks or paperwork.
Bendigo Bank offers pre-approval for home loans that allow you to understand the home loan size you may be able to get before looking for a new home.
With the pre-approval, Bendigo Bank provides an estimate of your borrowing power. This figure incorporates stamp duty, lenders mortgage insurance (LMI) and any first home buyer incentives you may be eligible for. You may also qualify for the First Home Loan Deposit Scheme initiative, depending on your circumstances.
To apply for a pre-approval on your home loan from Bendigo Bank, all you need to do is fill in a smart form. You could also contact the bank directly on 1300 236 344.
Why does Westpac charge an early termination fee for home loans?
The Westpac home loan early termination fee or break cost is applicable if you have a fixed rate home loan and repay part of or the whole outstanding amount before the fixed period ends. If you’re switching between products before the fixed period ends, you’ll pay a switching break cost and an administrative fee.
The Westpac home loan early termination fee may not apply if you repay an amount below the prepayment threshold. The prepayment threshold is the amount Westpac allows you to repay during the fixed period outside your regular repayments.
Westpac charges this fee because when you take out a home loan, the bank borrows the funds with wholesale rates available to banks and lenders. Westpac will then work out your interest rate based on you making regular repayments for a fixed period. If you repay before this period ends, the lender may incur a loss if there is any change in the wholesale rate of interest.
How do I apply for a home loan pre-approval from Commonwealth Bank?
To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.
Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.
It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.
How do I apply for a home improvement loan?
When you want to renovate your home, you may need to take out a loan to cover the costs. You could apply for a home improvement loan, which is a personal loan that you use to cover the costs of your home renovations. There is no difference between applying for this type of home improvement loan and applying for a standard personal loan. It would be best to check and compare the features, fees and details of the loan before applying.
Besides taking out a home improvement loan, you could also:
- Use the equity in your house: Equity is the difference between your property’s value and the amount you still owe on your home loan. You may be able to access this equity by refinancing your home loan and then using it to finance your home improvement. Speak with your lender or a mortgage broker about accessing your equity.
- Utilise the redraw facility of your home loan: Check whether the existing home loan has a redraw facility. A redraw facility allows you to access additional funds you’ve repaid into your home loan. Some lenders offer this on variable rate home loans but not on fixed. If this option is available to you, contact your lender to discuss how to access it.
- Apply for a construction loan: A construction loan is typically used when constructing a new property but can also be used as a home renovation loan. You may find that a construction loan is a suitable option as it enables you to draw funds as your renovation project progresses. You can compare construction home loans online or speak to a mortgage broker about taking out such a loan.
- Look into government grants: Check whether there are any government grants offered when you need the funds and whether you qualify. Initiatives like the HomeBuilder Grant were offered by the Federal Government for a limited period until April 2021. They could help fund your renovations either in full or just partially.
How do you compare home loans?
To compare home loans, you can assess the components of the loan against your own financial situation and other mortgages in the market.
Look at the interest rate, rate type (fixed or variable), loan fees, features, loan term, repayment frequency and more to find a home loan that fits with your budget and property goals.
Then, use comparison tools like comparison tables, calculators, or RateCity's Real Time RatingsTM to create a short list of home loan options, and decide which home loan best suits your needs.
What are the benefits of getting a pre-approved home loan from Citibank?
While hunting for your dream home, getting a Citibank home loan pre-approval can have multiple benefits, which include:
- You'll have an idea on your personal price range, which can save time to find your home.
- With a pre-approved home loan, you may find yourself with more financial control to better decide how much you can spend.
- A Citibank pre-approved home loan is a commitment by a lender that signals you're ready to jump into the property market.
You can apply for pre-approval by providing basic details, such as name, email, and phone number on the bank’s website. Alternatively, you can contact the bank on 1300 361 922 or find a home lending officer on the website.
How can I get ANZ home loan pre-approval?
Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget.
At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.
An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.
You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).
How do I apply for Westpac’s first home buyer loan?
If you’re a first home buyer looking to apply for a home loan with Westpac, they offer an online home loan application. They suggest the application can be completed in about 20 minutes. Based on the information you provide, Westpac will advise you the amount you can borrow and the costs associated with any possible home loan.
You can use Westpac’s online mortgage calculators to estimate your borrowing power. You can also work out the time it might take to save up for the deposit, and the size of your home loan repayments.
When applying for a home loan with Westpac, you’re assigned a home finance manager who can address your concerns and provide information. The manager will also offer guidance on any government grants you may be eligible for.
Can I take a personal loan after a home loan?
Are you struggling to pay the deposit for your dream home? A personal loan can help you pay the deposit. The question that may arise in your mind is can I take a home loan after a personal loan, or can you take a personal loan at the same time as a home loan, as it is. The answer is that, yes, provided you can meet the general eligibility criteria for both a personal loan and a home loan, your application should be approved. Those eligibility criteria may include:
- Higher-income to show repayment capability for both the loans
- Clear credit history with no delays in bill payments or defaults on debts
- Zero or minimal current outstanding debt
- Some amount of savings
- Proven rent history will be positively perceived by the lenders
A personal loan after or during a home loan may impact serviceability, however, as the numbers can seriously add up. Every loan you avail of increases your monthly installments and the amount you use to repay the personal loan will be considered to lower the money available for the repayment of your home loan.
As to whether you can get a personal loan after your home loan, the answer is a very likely "yes", though it does come with a caveat: as long as you can show sufficient income to repay both the loans on time, you should be able to get that personal loan approved. A personal loan can also help to improve your credit score showing financial discipline and responsibility, which may benefit you with more favorable terms for your home loan.
How to apply for a home loan pre-approval from St. George?
By applying for a home loan pre-approval, you can establish how much you can afford to borrow and look for houses within that pre-approved budget. Getting home loan pre-approval from St. George is a fairly simple process that can be completed within 15 minutes.
The first step in this process is completing a home loan application. Once that application is submitted, a home loan expert from St. George will contact you to understand your requirements and your current financial position. You could also directly contact a home loan expert at the bank by calling 13 33 30 or by visiting your nearest branch.
Once the application has been processed, the home loan expert will ask for some basic documentation to confirm your borrowing capacity. After this, you should be issued a home loan pre-approval, subject to certain conditions.
Based on your home loan pre-approval from St. George, you can then find a property and make an offer. Your home loan expert will arrange to have the property valued and may request for more documentation, taking your home loan application to the next step.
Can first home buyers apply for an ING home loan?
First home buyers can apply for an ING home loan, but first, they need to select the most suitable home loan product and calculate the initial deposit on their home loan.
First-time buyers can also use ING’s online tool to estimate the amount they can borrow. ING offers home loan applicants a free property report to look up property value estimates.
First home loan applicants struggling to understand the terms used may consider looking up ING’s first home buyer guide. Once the home buyer is ready to apply for the loan, they can complete an online application or call ING at 1800 100 258 during regular business hours.
Who offers 40 year mortgages?
Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank.
Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.
Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.
What is a home loan?
A home loan is a finance product that allows a home buyer to borrow a large sum of money from a lender for the purchase of a residential property. The home is then put up as "security" or "collateral" on the loan, giving the lender the right to repossess the property in the case that the borrower fails to repay their loan.
Once you take out a home loan, you'll need to repay the amount borrowed, plus interest, in regular instalments over a predetermined period of time.
The interest you're charged on each mortgage repayment is based on your remaining loan amount, also known as your loan principal. The rate at which interest is charged on your home loan principal is expressed as a percentage.
Different home loan products charge different interest rates and fees, and offer a range of different features to suit a variety of buyers’ needs.
How do you determine which home loan rates/products I’m shown?
When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.
We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.
