Fixed Rate Home Loan
Fixed Rate Home Loan - An Overview
Loan type: Fixed Rate Loan
Our Fixed Rate Home Loan can be used for either personal or investment purposes.
Fixed Rate Term
You can choose to fix your rate for either a 1, 2, 3 or 5 year period, after which your loan will automatically convert to the Standard Variable Rate. You then have the option to apply to refix the interest rate for a further period.
You’re welcome to make additional repayments up to $500.00 per month with no penalty.1 Additional repayments up to this amount can help reduce both the overall term of your loan and the amount of interest you’ll pay.
You’ll have the option of choosing to make principal and interest, or interest only repayments.2
You can also choose to make weekly, fortnightly or monthly repayments, either direct from a Suncorp Bank transaction account, in a branch, over the phone or via the internet.
Choose to spread your loan over 30 years to minimise your monthly repayments, or shorten the term to a minimum of 8 years and pay your loan off sooner with higher monthly repayments.
Maximum loan amount
Borrow up to 95% of the purchase price or valuation of the secured property, whichever is the lower.3 Or with our Deposit Kick Start option,4 choose to borrow up to 110% of the purchase price or valuation of the security property, whichever is the lower.
1 An Early Payment Interest Adjustment Fee applies if more than the prepayment allowance (currently $500.00 per month) is paid in excess of the agreed monthly repayment. Fee applies to the whole amount pre-paid.
2 A maximum period of 5 years interest only repayments applies
3 Exclusions and maximum loan amounts apply.
4 Terms and conditions apply.
Features of the Fixed Rate Loan
Choose to 'split' your loan
Get the best of both worlds by choosing to ‘lock in’ a portion of your borrowings on a fixed interest rate, with the remaining portion on a standard variable interest rate.
The fixed rate portion gives you the security of knowing how much your repayments will be, as well as limiting your exposure to rate rises. The variable rate portion lets you make unlimited additional repayments while giving you the flexibility to redraw them at any time.1 It’s a solution that gives you the benefits of both loan types.
Guaranteed Rate Fee
When you apply for a fixed rate loan, it’s important to remember that the interest rate may change between making your loan application and when your loan is settled.
So to ensure your rate will be the same as when you apply, you can opt to pay a Guaranteed Rate Fee to secure a fixed rate for 90 days following your application. The Guaranteed Rate Fee is calculated at a minimum of $600 or 0.15% of the Loan Amount prior to adding any fees or charges that are to be financed as part of the transaction.
In this way, you’ll have the certainty of knowing what your fixed rate will be, allowing you to plan your budget with confidence.
We issue you with a statement every 6 months, or more often when you request it.
1 You need to apply for Cashback, which is available subject to conditions.
Rates & Fees
Fixed Home Loans - Personal
|Home Loan||Interest Rate||Comparison Rate#|
|1 Year Fixed||4.54% p.a.||5.47% p.a.|
|2 Year Fixed||3.99% p.a.||5.29% p.a.|
|3 Year Fixed||3.99% p.a.||5.18% p.a.|
|5 Year Fixed||4.84% p.a.||5.32% p.a.|
Rates effective 24 August 2016, but are subject to change.
Fixed Home Loans - Investment
|Home Loan||Interest Rates||Comparison Rate#|
|1 Year Fixed||4.74% p.a.||5.78% p.a|
|2 Year Fixed||4.09% p.a.||5.57% p.a|
|3 Year Fixed||4.09% p.a.||5.43% p.a|
|5 Year Fixed||5.04% p.a.||5.59% p.a|
Rates effective 24 August 2016 but subject to change.
|Account Keeping Fee|
|Loan Establishment Fee|
|Lender's Mortgage Insurance|
The Fixed Rate offered on the day of settlement of the loan will apply unless the rate is secured by paying a Guaranteed Rate Fee. After the Fixed Rate period expires, rate will revert to the then Standard Variable Rate.
#Each comparison rate is based on $150,000 over 25 years. WARNING: These comparison rates apply 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.
Home Loans are provided by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Terms, conditions, fees and charges apply and are available upon request.