Suncorp Bank Home Loans: The 2026 Review

Suncorp Bank, officially known as Suncorp Bank (Norfina Limited), was established to provide Australians with a reliable alternative to the major banks. Over the years, it has built a reputation for offering competitive financial products and services. The bank's journey has been marked by a commitment to innovation, especially in digital banking, allowing it to cater to the evolving needs of its customers.

Today, Suncorp Bank operates as an independent entity headquartered in Docklands, VIC. It distinguishes itself from the Big 4 banks by focusing on competitive pricing and personalised service. With a diverse range of products, including fixed and variable rate loans, Suncorp caters to a broad spectrum of borrowers. The bank's business model emphasises flexibility and customer-centric solutions, supported by both branch and online delivery models.

Suncorp Bank targets Australian home loan borrowers seeking cost-effective and flexible financial solutions. Its offerings, such as the Home Package Plus, provide significant savings through discounted rates and fee waivers. The bank's ability to offer features like extra repayments without penalty and loan splitting options makes it an attractive choice for those looking for tailored banking experiences.

• Legal Name: Suncorp Bank (Norfina Limited)
• ABN: 66010831722
• Headquarters: Docklands, VIC
• Type: Bank
• Ownership: Independent

• Website: https://www.suncorpbank.com.au
• Phone: 13 11 75
• Email: [email protected]
• Address: Level 9, 833 Collins Street, Docklands VIC 3008

Suncorp Bank offers a range of home loan products with features designed to enhance financial flexibility and cost savings, such as discounted rates and fee waivers. Borrowers benefit from options like splitting loans into variable and fixed rate portions and making extra repayments without penalties.

• Extra Repayments: Borrowers can make extra repayments of up to $500 per month without penalty on fixed rate loans. This feature allows borrowers to reduce their loan balance faster, potentially saving on interest over the life of the loan.
• Loan Splitting: Suncorp Bank allows loans to be split into variable and fixed rate portions at no extra cost. This flexibility enables borrowers to benefit from the stability of fixed rates while taking advantage of potential rate decreases with variable rates.
• Discounted Interest Rates: A discounted interest rate is available when combining home lending over $150,000 with an Everyday Options bank account. This feature helps borrowers reduce their overall interest costs, making their home loan more affordable.
• Online Banking Features: Suncorp Bank provides comprehensive online banking features, allowing borrowers to manage their loans conveniently. This includes access to account details, transaction history, and the ability to make payments online.
• No Establishment Fee: There is no establishment fee for loans over $150,000, reducing upfront costs for borrowers. This feature makes Suncorp Bank's home loans more accessible and cost-effective from the outset.
• Mortgage Offset Account: The 100% mortgage offset account allows borrowers to offset their loan balance with their savings, reducing the interest payable. This feature can significantly decrease the total interest paid over the loan term, providing substantial savings.
• Redraw Facility: Borrowers can redraw additional repayments as cashback with no fee and unlimited withdrawals. This feature offers flexibility in accessing funds if needed, without incurring additional costs.
• Interest-Only Repayments: Interest-only repayments are available for a maximum of five years, subject to bank criteria. This option can lower initial repayments, providing financial relief during the interest-only period.

Suncorp Bank offers a transparent fee structure with various upfront, ongoing, and conditional fees that cater to different loan products. Borrowers can benefit from fee waivers and discounts under specific conditions, enhancing cost-effectiveness.

• Establishment Fee: $990 - Applies to loans where borrowings are less than 90% of the property value, waived for loans greater than $150,000.
• Additional Valuation Fee: $150 - Charged for additional valuation assessments involving a physical inspection when assessing loan security.
• Home Package Plus Annual Fee: $375 (Annual) - Annual fee for the Home Package Plus, which includes discounted rates and fee waivers.
• Monthly Account Keeping Fee: $10 (Monthly) - Charged as per the Credit Contract for maintaining the loan account.
• Loan Finalisation Fee: $350 - Applies when a loan is paid out in full, including settlements, refinances, and payouts.
• Early Payment Interest Adjustment (EPIA): Variable - Charged for breaking a Fixed Rate period by paying out the loan or exceeding the agreed monthly amount.
• Copy of Documents Fee: $35 - Payable if a copy of a document, such as a mortgage or title search, is required.
• Guarantor Fee: $200 - Applies per guarantor included in the loan.

Suncorp Bank offers home loans to both owner-occupiers and investors, with flexible options suitable for first home buyers and those seeking competitive rates.

• Must be at least 18 years old.
• Applicants must be Australian citizens or permanent residents.
• New or additional lending must be at least $150,000.
• Applicants must hold a Suncorp Bank transaction account or agree to open one.
• Credit and lending criteria apply and are subject to change without notice.
• For loans exceeding 80% LVR, Lenders Mortgage Insurance is required.
• First Home Buyers must qualify within their state as first home buyers.

• Lenders Mortgage Insurance is required for loans with LVR over 80%.
• The Home Package Plus offers a $0 establishment fee and potential savings up to $11,250 with no annual fee on eligible packages.
• Fixed rate loans limit extra repayments to $500 per month.