Our lowest variable rate
Variable Rate
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Comparison Rate
A comparison rate is a rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product. For more information about the comparison rate and the comparison rate warning, please refer to the things you should know section of this page.
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Discounted Back to Basics Variable Rate with Better Together Special Offer. Owner Occupied. New to bank lending ≥ $150,000. Maximum LVR 60%. Principal and Interest repayments.
Why choose a Back to Basics Home Loan?
Low variable interest rate
Low fees
No monthly account keeping fee and no ongoing annual fee. Plus, no loan establishment fee on new lending of $150,000 or more.
Flexible options
Unlimited additional repayments. Redraw additional repayments as cashback. Interest only repayment option subject to credit approval.
What could my repayments be?
The effective date of any interest rates is 5 March 2021 unless shown otherwise within interest rate terms and conditions.
Compare our home loan interest rates and our home loan features and fees.
Better Together Special Offer
Link your Back to Basics Variable home loan of $150,000 or more with an Everyday Options Account and enjoy a discounted rate and other savings.
What you get
Easy application, fast approvals
Fees
Account keeping fee
$0
Loan establishment fee
$600 for borrowings < 90% LVR
$990 for borrowings >= 90% LVR
$0 for loans >= $150,000
Lenders Mortgage Insurance (LMI)
If you are borrowing more than 80% of the value of the property, you will be required to pay Lenders Mortgage Insurance. This is a one-off payment and can be financed into the loan.
Lenders Mortgage Insurance protects Suncorp Bank against loss in the event of a forced sale of a mortgage property. It does not insure you but may make it possible for you to buy a home with a smaller deposit. You will still be responsible for all amounts owing in relation to your loan.
Lender’s Mortgage Insurance (“LMI”)
Amount and costs determined at application on loans > 80% LVR
Download the Lending Fees and Charges brochure
Frequently Asked Questions
Pre-approval (sometimes referred to as conditional approval) will give you a good idea of how much you may be able to borrow from the bank. If a lender pre-approves you for a loan, they will do so for a specific amount, so you can house hunt properties you know you can afford.
It is obligation-free if you're successful, and you can apply more than once.
You can speak with a lender to apply, or you can apply for pre-approval in as little as 20 minutes online!
You can make additional repayments to your Standard Variable or Back to Basics Variable Home Loan at any time.
For Fixed Rate Home Loan, additional repayments of up to $500 in excess of your minimum monthly repayment are permitted. After that, an Early Payment Interest Adjustment Fee (EPIA) may apply.
For more information on fees, view the EPIA brochure.
Our Home Loan Cashback feature lets you redraw funds that you've paid in advance of your normal scheduled home loan repayments.
You can still redraw this excess money at any time – for school and university expenses, a holiday, renovation, or any other purpose. This feature is available on Standard Variable and Back to Basics Variable home loans.
A home loan will have a loan term (usually between 8-30 years), which can have the option of principal and interest or interest only repayments.
For a principal and interest home loan, you will be required to pay a minimum monthly repayment. This repayment will require you to pay the interest charge, as well as reducing the principal amount of the loan over the required term.
For an interest only home loan (requires approval), you can take a maximum interest only period of 5 years. During this period, you will only be required to pay the interest charges. At the end of the interest only period, you will revert to a principal and interest repayment.
There’s no charge for talking with a lender. All home loan assistance is obligation-free.
What can I expect?
Whether you want to get pre-approval, a new loan or refinance your existing loan with Suncorp Bank, you can apply quickly online. We’ll reply within two hours or by the next business day.
Save time, get started online
Are you buying a home or looking to refinance?
You can apply online in as little as 20 minutes.
100% obligation free advice
Our experienced home lending team are happy to answer all your lending questions. They’ll call you within two hours (or next business day) to discuss your home lending needs.
If you’d like to speak to someone straightaway, please call 13 11 75 Mon-Fri 8am-7pm and Sat 9am-2pm (AEST)
What can I expect?
Whether you want to get pre-approval, a new loan or refinance your existing loan with Suncorp Bank, you can apply quickly online. We’ll reply within two hours or by the next business day.
Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.
# COMPARISON RATE:
A comparison rate is a rate that indicates the true cost of a loan. This comparison rate is based on $150,000 over a term of 25 years and incorporates certain fees and charges that are applicable for the chosen product.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates for Interest Only Fixed Rate home loans are based on an initial Interest Only period equal in length to the fixed rate period. Comparison rates for Interest Only Variable home loans are based on an initial 5 year Interest Only period.
±Discounted rate is only available for new Personal/Owner Occupied loans taken out as part of the Better Together Special Offer >= $150,000 and borrowings <= 60% of the security property value (LVR) inclusive of lenders mortgage insurance (if applicable), with Principal and Interest repayments and who hold a Suncorp Bank transaction account. The discounted rate (currently 6.13% p.a.) is calculated by subtracting a discount of 2.52% from the Standard Back to Basics Variable Rate (currently 8.65% p.a.). Rates and discounts are subject to change and may be varied if the loan purpose or repayment type is changed or where the borrower fails to hold a Suncorp Bank transaction account. Pre-approvals excluded. The discounted rate is available on eligible loans applied for from 24 April 2024.
Comparison Rate
A comparison rate is a rate that indicates the true cost of a loan. This rate incorporates certain fees and charges that are applicable for the chosen product. For more information about the comparison rate and the comparison rate warning, please refer to the things you should know section of this page.
Lenders Mortgage Insurance (LMI)
If you are borrowing more than 80% of the value of the property, you will be required to pay Lenders Mortgage Insurance. This is a one-off payment and can be financed into the loan.
Lenders Mortgage Insurance protects Suncorp Bank against loss in the event of a forced sale of a mortgage property. It does not insure you but may make it possible for you to buy a home with a smaller deposit. You will still be responsible for all amounts owing in relation to your loan.
