Fixed Home Loan (Principal and Interest) 5 Years
Discount Variable Home Loan
special
$0 application feeMake the move to UBank's award winning home loan
2.84%
Variable
2.84%
Owner Occupier Discounted Variable Rate
3.14%
Fixed - 5 years
4.56%
$1,073
Pros
- Suitable for low deposits
- Parents can sign as guarantor
- Repayments will not change during fixed period
Cons
- Limited extra repayments
- No redraw and no offset
- Discharge fee at end of loan
- Repayments won't decrease if RBA cuts rates
Maximum LVR 95% | Interest rate structure Fixed - 5 years |
Borrowing range $10k - $100m | Total Repayments $386,280 |
Principal & interest | Interest only |
Loan term range 8 - 30 years | Offset account No |
Extra repayments Allowed with restrictions | Redraw facility |
Allows split interest | Suitable For Owner Occupiers |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Estimated upfront fees $600 | Application fee $600 |
Settlement fee $0 | Valuation fee $0 |
Legal fee $0 | Ongoing fee $10 |
Discharge fee $350 | Property Type |
SMSF Trustee | Minimum SMSF Amount |
Aggregator |
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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 Home Loan Calculator
Interested in an Suncorp Bank home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Suncorp Bank compares to its competitors. Simply plug in your borrowing amount below.
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FAQs
A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.
A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.
Split rates home loans
A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.