Saving for a deposit

We understand that saving for the deposit for your first home can be a big challenge, however there are ways we can help.

Enquire online

Or call us 13 11 55 Mon-Fri 8am-7pm and Sat-Sun 9am-5pm (AEST)

Your deposit for a home loan and purchase

The deposit amount you’ll need depends on the purpose and purchase price of the property.

Suncorp Bank provides borrowing of up to 80% of the property’s confirmed value (LVR) while avoiding Lending Mortgage Insurance (LMI).

Suncorp Bank may provide up to 95% LVR inclusive of LMI4.


We understand that saving a deposit for your first home is a substantial task and that’s why Suncorp Bank has created our Low Deposit Option

It's designed to help make it easier to secure your loan and get you into your new home sooner.

Low Deposit Option

Owner occupiers may be able to borrow up to 95% of the property’s confirmed value4.

Need help? Speak to one of our home loan specialists. Enquire online or call 13 11 55

 The First Home Owners Grant

If your state or territory offers a first home buyers grant and you’re eligible, this is a great way to boost your deposit. The First Home Owners Grant is a government scheme offering a one-off grant payable to eligible first home owners who are looking to be owner occupiers.

You can access information about the First Home Owners Grant by contacting the Revenue Office in your State or Territory, or by visiting

We can make it easy for you by processing the grant application with your Suncorp Bank Home Loan. Ask us how.

Find out if you are eligible

Tools to help you budget & save

Products to help you save

No matter how big or small your savings goal, we can help.

Growth Saver

Earn bonus interest for every month that you grow your net balance by $200 or more (excluding interest) and make no more than 1 withdrawal.

Earn up to


Standard Variable Interest Rate IRM{gsdep.2.1}
plus Bonus Variable Interest Rate IRM{gsdep.3.1}

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Everyday Options

You can add up to 9 sub-accounts to an Everyday Options Account to help you budget and save.


Variable Interest Rate

You must hold an Everyday Options main account to open an Everyday Options sub-account.

Everyday Options
Account flexirate

Boost your savings with flexiRates when you choose to lock a portion of your savings away for fixed terms up to 12 months.


What could my repayments be?

How much could I borrow?

Stamp duty & concession calculator

Compare home loans

Make your next home loan move with confidence

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.

What can I expect?

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 55 Mon-Fri 8am-7pm and Sat-Sun 9am-2pm (AEST)

3. Displayed rate is based on a rate currently available for a 3 month flexiRate. flexiRates are available on Everyday Options Main and Sub-accounts. If a flexiRate is not set up standard variable Everyday Options Main or Sub-account interest rate will still apply. If your account is operating in offset mode, you will earn credit interest on the amount of your flexiRates, and the remaining balance will offset your loan.

4. A maximum LVR has multiple eligibility requirements that need to be assessed as part of a loan application, approved and is not guaranteed.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) with Home Loans to approved applicants only. Please read the relevant Product Information Documents, Lending Fees and Charges and the Home Package Plus terms and conditions before making a decision regarding any Suncorp Bank products. Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page.

This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. Where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should consider the Product Disclosure Statement before making any decision regarding the product. Contact us 13 11 55 for a copy.