Suncorp Bank Home Package Plus Home Loan
Get a range of discounts on your interest rates and fees with the Suncorp Home Package Plus
The Suncorp Home Package Plus comes with a competitive interest rate and several useful features including an offset account, redraw facility and split rate options.
Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.
There is an interest-only option available.
This loan can be used for both personal and investment purposes.
About this loan
What are the features and benefits of the Suncorp Bank Home Package Plus Home Loan?
- Loan to value ratio (LVR). You may borrow up to 95% of your property's value. Note that you'll have to pay Lender's Mortgage Insurance (LMI) if you borrow over 80% of the property's value.
- Loan terms. You can borrow for up to 30 years with this loan.
- Repayment frequency. You can choose to make your repayments weekly, fortnightly or monthly repayments to suit your budget.
- Repayment type. You can make interest-only or principal and interest repayments with this loan. Interest-only repayments will only be accepted for up to five years. You may also make unlimited additional repayments to reduce your interest owed and pay your loan off quicker.
- Redraw. You can redraw your extra repayments using the redraw facility offered with this loan. The minimum amount allowed is $1,000.
- 100% offset account. When you choose the variable rate loan as part of your package you have access to a 100% offset account. An offset account is linked to your home loan and offsets the interest due on your home loan.
- Insurance. You could qualify for a discount on your first year's home insurance as well as for a multi policy.
- Credit card fee waiver.As long as you have this package you will not be charged any annual fee for the standard, gold or platinum credit cards offered by Suncorp Bank.
- Personal loans. You won't pay establishment fees or monthly fees on personal loans from Suncorp Bank with this package.
What fees and charges come with this loan?
- Establishment fee. There are no fees for the application or establishment of this package.
- Valuation fee. You will not be responsible for paying for the professional assessment of the value of the property.
- Ongoing fee. There are no monthly account-keeping fees charged to your loan account.
- Settlement fee. You will not be charged when the home loan package is settled.
- Package fee. There is an annual fee of $375 for this home loan package.
How to apply
If the Suncorp Bank Home Package Plus Home Loan sounds right for you, click the 'enquire now' button and you'll either be redirected to the lender's website or to a mortgage broker. Here, you can place an enquiry to discuss your eligibility and borrowing needs.
You'll need to supply the following details:
- Identification. You will need to produce a valid photo ID such as a driver's license or passport.
- Income. Your last three pay slips or two years financial statements if self-employed.
- Residence. If you own your home, a rates notice or home loan statement will need to be provided. For renters, a tenant's agreement or rent receipt is acceptable. If you are boarding the bank will require a written statement of board.
- Liabilities. Have prepared your credit and charge card statements along with any for personal loans.
- Savings. If applicable you will need to provide savings account statements along with any term deposit statements and managed fund statements.
The Suncorp Bank Home Package Plus Home Loan is a competitive product that combines unique features with those of other loans offered by Suncorp Bank. Make sure you compare the features and fees of this product before making a decision.