Compare Suncorp Bank home loan offers
Founded in 1902 as Queensland Agricultural Bank, Suncorp now has more than 230 branches and 2,200 ATMs across Australia. Suncorp is focused on personal banking, small-to-medium enterprises, commercial lending and agribusiness. Bank accounts, savings, business and personal loans, credit cards and investing services are all offered by Suncorp.
Suncorp home loan comparison
Home loans offered by Suncorp Bank
Suncorp’s portfolio contains variable rate loans, fixed rate loans, line of credit loans and a home loan package. Suncorp home loans also offer features such as access to equity, redraw facilities, competitive interest rates and waived fees. Repayment customisation is another major feature that is available with Suncorp’s line of home loans.
Standard Variable Rate Home Loan
Suncorp's standard variable rate home loan includes an optional redraw facility, allowing you withdraw excess repayments in times of need. This loan type also comes with an offset facility, which enables you to place money in a savings account in order to lower the interest paid on the loan. Repayments can be made in principal and interest or interest-only, and extra repayments are allowed without penalties. You can schedule repayments on a weekly, fortnightly or monthly basis. There is an establishment fee and a monthly fee attached to this loan.
Back to Basics Home Loan
The Back to Basics Home Loan is a discounted variable rate loan that includes a redraw facility for easy cash access. The loan can be split between variable and fixed portions. Repayments can be made on a weekly, fortnightly or monthly basis and can be made in principal and interest or interest-only forms. There are no penalties for extra and lump sum repayments.
The monthly fee is waived for this product.
Fixed Rate Home Loan
This fixed rate home loan can be split to include a variable rate portion. Repayments can be made on a weekly, fortnightly or monthly basis. Extra and lump sum repayments are allowed up to $500 extra per month with no penalty, and repayments can be principal and interest or interest-only.
There is a loan establishment fee and a monthly fee attached to the Fixed Rate Home Loan.
Access Equity Home Loan
The Access Equity Home Loan is a variable interest rate line of credit loan that can be split to include a fixed rate portion, and can be a good option for borrowers who want to tap into the equity in their home. You can make repayments when it suits you, as long as the balance remains below the approved limit. An application fee and a monthly account-keeping fee also apply.
Home Package Plus
All of the above loan types, with the exception of the Back to Basics Home Loan, can be packaged into the Home Package Plus. This package carries an annual package fee, but also offers discounts on other banking products that are available with Suncorp including insurances, credit cards, transaction accounts and other loans.
Features of Suncorp Bank home loans
- Ability to split. Many of Suncorp’s lending options can be split between a fixed and variable rate of interest.
- Extra repayments. Borrowers can make extra or lump sum repayments with most of Suncorp’s home loans. This will help you pay off your mortgage earlier.
- Home Package Plus. The standard variable, standard fixed and access equity loans can be combined with the Home Package Plus. This package includes the Everyday Options account, a transaction and savings account that allows you to set up inflows such as direct salary credits and outflows such as automated loan repayments. All of the money in this account can be used as an offset facility to save you money on interest.
Estimate your repayments with a home loan by filling in some of your details
How to apply for a Suncorp Bank home loan
- Book an in-person meeting with a lender. This will require you to fill out a form in which you’ll need to specify some personal and financial details. You will enter your preferred method of contact and schedule a meeting with Suncorp. You can even choose between meeting at a branch or having a mobile lender come to you. You will be contacted within a few business days.
Documents needed to apply for a Suncorp Bank home loan
Suncorp will want to see some documentation regarding your personal identity. You’ll need to provide 100 points of ID, as is required by law.
You’ll need to supply the contract of sale, certificate of title and the transfer of land document for the property you're buying.
You’ll need to provide:
- Information on your assets. Documents displaying your ownership of vehicles, real estate, shares or savings should be shown to your lender.
- Details of your expenses and liabilities. Expenses and liabilities include credit card debt, loan debt, child support payments, utility bills and other outstanding bills that you owe.
- Proof of income. If you earn a wage or salary you need to provide two consecutive pay slips, a letter from your employer stating your income, and information on wage deposits into a transaction account over a three-month period. If you are self-employed you need to provide personal tax returns.