Suncorp Bank

Suncorp Bank's home loan comparison covers three loans. The Standard Variable loan has an optional 100% mortgage offset through a linked Everyday Options account, unlimited extra repayments and redraw. Back to Basics is a no-frills variable loan with optional redraw. The Fixed Rate loan has initial fixed terms of 1, 2, 3 or 5 years.

Standard Variable, Fixed Rate and Access Equity loans totalling $150,000 or more can be bundled into the Home Package Plus. The package has a $375 annual fee and removes the loan establishment, account keeping and mortgage offset fees. Suncorp Bank also offers construction loans, paying the builder in stages under the building contract's progress payment schedule.

For businesses, the Business Essentials Term Loan runs from $20,000 to $5 million over terms of up to 30 years and is secured by residential, commercial or industrial property. Commercial Term Loans for larger businesses and Agribusiness Loans for farming businesses start at $500,000 with terms of 1 to 15 years. Suncorp Bank also offers lines of credit, overdrafts, bank guarantees, invoice finance, trade finance and equipment finance.

Suncorp Bank lends to first home buyers, people buying their next home, refinancers, renovators and property investors. First home buyers can apply with a deposit as low as 5% (excluding costs), and Lenders Mortgage Insurance applies when borrowing more than 80% of the property's value. Interest-only repayments are available for up to five years, subject to Suncorp Bank's criteria.

Business Essentials Term Loan applicants need to provide up to two consecutive years of financial information, either for a business they own or one they plan to buy. Suncorp Equipment Finance is only available where the business's total lending with Suncorp Bank will be $1,000,000 or more, or where it has a dedicated Business Banking Manager. Those businesses also need at least 2 years in business and 2 consecutive years of financial statements and tax returns, and the vehicle or equipment must be used for business purposes at least 50% of the time.

Suncorp Bank takes home loan applications in person, online and through mortgage brokers. Borrowers can meet a Suncorp Bank lender by phone or at a branch, and in many locations a mobile lender can meet them at home, at work or at a local café. A home loan expert calls back within two business days of a request, or applicants can call 13 11 75 (Monday to Friday 8am to 7pm, and weekends 9am to 2pm AEST).

Business Essentials Term Loan applications start with an online enquiry form, after which a Business Specialist makes contact. For equipment finance, businesses can call 13 11 75 to speak to a business specialist, visit a branch or contact their Business Banking Manager.

Suncorp Bank products are issued by Norfina Limited (ABN 66 010 831 722), which holds Australian Credit Licence 229882. ANZ acquired Norfina Limited on 31 July 2024, and Suncorp Bank is now part of the ANZ Group. It uses the Suncorp brand under licence and is not part of the Suncorp Group.

Suncorp Bank says its accounts and products will move to ANZ in 2027, and customers cannot delay or opt out of the move. The bank traces its history to the Queensland Agricultural Bank, which opened its first branch in Queensland in 1902 to provide loans to rural communities.