Suncorp Bank FAQs

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Frequently Asked Questions

How do Suncorp Bank calculate my home loan interest rate?

The interest rate examples listed on Suncorp Bank’s website are based on $150,000 over 25 years. Their Interest Only Fixed Rates are based on an initial interest only period equal in length to that fixed rate period, while the comparison rates for Interest Only Variable Home Loans are based on an initial 5-year interest-only period. However, it’s important to keep in mind that these examples are listed for comparison only. Costs such as redraw fees, early repayment fees, and cost savings such as fee waivers will affect your actual home loan interest rate. Compare Suncorp’s Home Loan interest rates now.

How much deposit do you need for for a home loan with Suncorp?

The size of a deposit you’ll need for a Suncorp home loan depends on the price and purpose of the property you’re purchasing, the home loan type and your individual circumstances (for example, whether you’re a first home buyer) Depending on the purchase and size of the loan, you may be able to borrow up to 95% of your property’s value, in which case you would only need to provide a 5% deposit. However, you may need to pay Lenders Mortgage Insurance if you’re not eligible for an exemption. You’ll also need to factor in additional costs when saving to purchasing a home, such as val-uation fees, moving costs and solicitor’s fees.

The best way to see how much you need for a deposit for a Suncorp home loan is to use their borrowing calculator.

How to get home loan statements from Suncorp

The easiest way to access your home loan statements from Suncorp is via their Internet Banking website or app. This will allow you access all the im-portant information related to your mortgage, including:

  • How much you’re required to repay each period (weekly, fortnightly or monthly payments)
  • Your upcoming repayments and due dates
  • The estimated amount and time still owing on your home loan
  • Your current interest rate
  • Any advance payments made and your available cashback amounts
  • Your transaction history
  • Your offset balance

How to get Suncorp Home Loan Fees waived

Suncorp offers fee waivers for several of their home loan products, provided you meet a certain criteria. For example, on their Back To Basics Home Loan, there are no monthly account keeping fees, ongoing annual fees or loan establishment fees for new lending of $150,000 or more. Or, if you’re a first home buyer, Suncorp will waive the annual package fee in their Standard Variable Rate Home Loan. These fee waivers are generally only available for a certain period of time, so it’s best to check their website to see what current deals apply.

How to split a home loan with Suncorp Bank

You may choose to split your home loan with Suncorp, allowing you to lock in a portion of home loan on a fixed interest rate and a portion as a variable home loan. This is available on all of their home loans, apart from their Bridging Loan. Some customers choose to do this, as it gives them the best of both worlds. The fixed rate gives them the security of knowing exactly how much their repayments will be and protects against the fluctuations of the market, while the variable rate allows you to make unlimited additional payments and withdraw at any time. You can choose to split your home loan in any way you like, whether it’s 50/50 or 75% fixed and 25% variable. Simply let your broker know when you’re applying for a home loan. To see whether a split home loan would benefit you, check out Suncorp’s Split Loan Calculator.