Buying a second home
Variable rate
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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.
Explore our home loan options
The effective date of any interest rates is 13 February 2026 unless shown otherwise within interest rate terms and conditions.
View our Suncorp Bank home loan interest rates, generate a facts sheet or compare our home loan types.
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Frequently Asked Questions
Still have questions:
Finding the right home loan depends on your situation. Here’s how to start:
- check loan features like offset accounts and redraw facilities.
- speak with a mortgage broker or one of our Suncorp Bank lending specialists.
Want to crunch the numbers? Try our loan repayment calculator to see what your repayments might look like.
If you already own a home, your financial situation may be different this time around. You may have equity in your current property that could help with your next purchase, and your borrowing power will be assessed differently if you plan to sell or rent out your existing home. We can help you explore your options.
Yes, it may be possible to use the equity in your current property to help fund the deposit for your next home, depending on your financial situation and loan eligibility. Our home lending specialists can help you explore your options to help you determine what’s right for you.
Your borrowing capacity is assessed based on factors such as your income and expenditure, existing debts (including your current mortgage), credit history, and the value of the property you wish to purchase. If you’re keeping your existing home as an investment, we’ll also factor in potential rental income.
Choosing the right home loan depends on what’s most important to you. With Suncorp Bank, you can consider:
- interest rates - whether a fixed or variable rate suits your financial plans
- repayment flexibility - options to make extra repayments or use an offset account
- fees and loan features - such as redraw facilities and loan portability
- loan term - how long you want to take to pay off your home loan.
If you’re unsure which option is best, our home lending specialists can help you compare features.
Interest rates fluctuate based on economic conditions, inflation and monetary policy set by the RBA. Keeping an eye on RBA announcements and financial forecasts can help you make informed decisions about your loan.
The Reserve Bank of Australia (RBA) sets the cash rate, which influences interest rates offered by banks. When the cash rate changes:
- variable home loan rates may go up or down
- fixed home loan rates remain unchanged for the term of the fixed period, however, the financial institution may change their current rates for new borrowers. Keeping track of the RBA’s decisions can help you decide when to refinance or lock in a fixed rate.
Home loan repayments are influenced by several factors, including the loan’s:
- current balance
- term (e.g. 20 or 30 years)
- interest rate (fixed or variable)
- repayment type (principal & interest or interest-only).
- linked offset account/sub-account balances (if eligible)
If you have a variable interest rate, your repayment amount may change over time as interest rates fluctuate.
Your mortgage repayment consists of two parts:
- principal: the amount borrowed
- interest: the cost of borrowing.
At Suncorp Bank, home loan interest is calculated daily and charged on your monthly repayment due date. We multiply the remaining balance on your loan by your interest rate and divide it by 365 to determine daily interest. You can use the calculator above to get an understanding of how much interest you could pay on your loan over time.
Since interest rates can change, the calculator provides an estimate based on current rates but does not include all potential fees and charges. If a variable rate loan is selected, repayments may fluctuate over time.
Yes. By making extra repayments you can help pay off your mortgage sooner and reduce your total interest paid. Keep in mind:
- fixed-rate loans may have limits on extra repayments
- variable-rate loans often allow unlimited extra repayments.
Another way to reduce interest on your variable home loan is by using an offset account. An offset account may also help to reduce the total cost of repaying your loan. An offset account is a bank account that is linked to your variable home loan. The money in it 'offsets' your variable home loan balance, reducing the total interest you need to pay.
If you have a variable rate home loan, you may be able to:
- change the amount you pay in each repayment (subject to the minimum loan repayment amount)
- make extra repayments to pay off your loan faster
- change the frequency of your repayments (e.g. weekly, fortnightly or monthly)
- switch between principal and interest or interest-only repayments.
Fees and charges may apply, depending on what changes are made, and if applicable, these are listed in the lending fees and charges booklet. If you’ve set up a recurring payment to a home loan from your Suncorp Bank account, you can update it at any time. Find out more about changing your repayments.
The frequency of your repayments - weekly, fortnightly or monthly - can impact how much interest you pay over the life of your loan. Since interest is calculated daily on the unpaid balance, making more frequent repayments may help reduce the total interest you pay.
Use our home loan repayment calculator to see how repayment frequency might affect interest payable.
A comparison rate indicates the true cost of a loan, which is calculated by taking into account both the interest rate and the fees and charges related to the home loan product and reduces these to a single percentage figure for a secured loan amount. The comparison rate is calculated on a loan amount of $150,000 and a term of 25 years. 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.
Principal & interest (P&I): You repay both the loan amount and interest, which reduces your total loan balance over time.
Interest-only repayments requires bank approval. If you are approved, you only pay interest for a set period, resulting in lower repayments initially. However, your repayments will increase later when you start paying off the principal and interest.
Interest-only loans may also have borrowing restrictions or additional conditions, so it’s important to consider your long-term financial goals.
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.
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Are you buying a home or looking to refinance?
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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.
It may be necessary to vary the terms of your product to convert it to a different replacement product. This means you may end up with a product that has different terms and features from those you initially applied for. In any event, Suncorp Bank will give you more information about these changes before they take effect. You may also wish to consider applying for other products instead. If you have any questions, please contact us on 13 11 75.
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.
±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 5.64% p.a.) is calculated by subtracting a discount of 2.51% from the Standard Back to Basics Variable Rate (currently 8.15% 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 13 February 2026.
# 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.
*Our Special Offers, Package and Standard Interest Rates explained
Interest rates displayed may include a discount margin applied to the applicable Standard Interest Rate and discount margins are subject to maximum LVR requirements. Loan to Value Ratio (“LVR”) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable.
For a full list of rates with discount margins displayed, please view Interest Rates for Home Loans.
Home Loan Special Offer Rates: Available for customers with eligible new Suncorp Bank home lending over $150,000:
- Home Package Plus - Standard Variable or Fixed Rate home loan packaged with our Everyday Options transaction bank account or;
- Better Together Offer - Combine a Back to Basics home loan with our Everyday Options transaction bank account.
To compare Suncorp Bank Home Loan products, features and fees visit Compare our Home Loans.
Home Package Plus First Home Buyer Special Offer: For eligible Owner Occupier first home buyers who have never previously purchased a property with eligible new Suncorp Bank home lending of over $150,000 and <=95% LVR.
Home Loan Standard Interest Rate: The minimum lending requirement is $10,000 and does not include any discount margins.
All rates are valid until withdrawn and are subject to change. For Better Together Special Offer & Home Package Plus Special Offer, an Everyday Options Account will be opened for all new customers that do not already hold a Suncorp Bank transaction account. Pre-approvals are excluded from Special Offer rates.
For Fixed Rate products, the standard Fixed Rate offered on the day of settlement of the loan will apply unless the rate is secured by paying a Guaranteed Rate Fee. At expiry of the fixed rate period, the rate will revert to the applicable Standard Variable Interest Rate less any applicable margin discount specified in your credit contract. The Interest Only period on a Fixed Rate must equal the Fixed Rate term.
Fixed loans are allowed extra repayments of up to $500 per monthly repayment period without penalty. If an extra repayment is made in excess of the allowance, an Early Payment Interest Adjustment (EPIA) will apply. Find out more about EPIA.
Interest only repayments are subject to credit approval. Before choosing an interest-only repayment option, it's important you understand the potential risks associated with this product feature. As the name suggests, interest-only repayments means you'll repay the interest charges but you are not required to repay the principal during the interest-only period. Since repayments to reduce the principal are not being made during the interest-only period, the full loan amount will still be due at the end of the interest-only period. You will pay more in interest than if you made principal and interest repayments.
Please note that the amounts displaying are indicative only and do not represent Suncorp Bank making an offer of credit or providing loan approval.
Calculator by Widget Works.
##Home Package Plus Annual Fee
$375 annual package fee will be charged and reimbursed while package is active. Savings based on 30-year loan term. Offer subject to change.
What is a 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.
Variable Rate
A rate that is variable and is subject to change over the loan term.
Fixed Rate
Lock in your interest rate and repayment amount
Lenders Mortgage Insurance
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.
What is home loan cashback/redraw?
A home loan redraw facility allows you to request access to any extra repayments you’ve made into your home loan above and beyond the minimum required repayments.
What is an offset account?
An offset account is an everyday account that is linked to your home loan. You can deposit your salary and savings into that account (and sub-savings accounts) and the balance is then offset against the amount owing on your home loan.
What is an offset account?
An offset account is an everyday account that is linked to your home loan. You can deposit your salary and savings into that account (and sub-savings accounts) and the balance is then offset against the amount owing on your home loan.
What is home loan cashback/redraw?
A home loan redraw facility allows you to request access to any extra repayments you’ve made into your home loan above and beyond the minimum required repayments.
What are Fixed Rate home loan early payment fees?
What are Fixed Rate home loan early payment fees?
Additional repayments of up to $500 in excess of your minimum monthly repayment are permitted. After that, an Early Payment Interest Adjustment (EPIA) fee may apply. For more information, view our EPIA Brochure (PDF).
