Standard Variable Home Loan
Stay flexible with a variable rate
Variable rate with optional 100% mortgage offset
Variable Rate
IRM{hlhppsoz.3.1}+
IRM{hlhppsoz.4.1}#
Discounted Standard Variable Rate in Home Package Plus. Owner Occupied. New to Bank Lending ≥ $150,000. Maximum LVR 60%. Principal and Interest Repayments.
Features & benefits
Optional 100% mortgage offset account
Save interest with a mortgage offset when your loan is linked to an Everyday Options Account.
Unlimited additional repayments
Save on interest by making unlimited extra repayments.
Redraw cashback
Easily redraw any extra repayments you’ve made as cashback.
Package and save
You could save on interest and fees by linking your eligible home loan and an Everyday Options Account via Home Package Plus.
Rates & fees
Our standard variable home loan rates
If you’re a new customer, you could save on interest rates and fees by taking out a Home Package Plus which combines our standard variable rate home loan (totalling $150,000 or more) with an Everyday Options Account.
Fees
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
Still have questions:
At Suncorp Bank, you’ll have a dedicated home loan expert who will support you through every step of your home loan or refinancing journey. They’ll take the time to answer your questions and explain your options in plain English so you can choose what’s right for you.
We are committed to providing banking services you can feel good about. We partner with a range of organisations to support our local communities.
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.
You can speak with a lender to apply, or you can apply for pre-approval online!
With a variable rate home loan, your interest rate isn’t locked in. This means your required repayments could increase or decrease as interest rates rise and fall. You generally have more flexibility to make extra repayments, which could potentially save you money in the long run.
A fixed home loan means your interest rate will be locked in for a set period. During this period, you can be certain your requirement repayments won’t change. At the end of the fixed rate period, your loan will roll to a standard variable rate or can be refixed.
’Splitting your loan’ means you’re choosing to divide your borrowings. You can secure a portion of your choosing as ‘fixed’ and a portion as ‘variable’, meaning you could benefit from the features of both home loan products.
LVR (Loan-to-Value Ratio) is the amount of a loan as a percentage of a property's value that you're borrowing. For example, if you're borrowing $400,000 for a $500,000 property, your LVR is 80%.
LVR impacts your borrowing power and may determine whether Lenders Mortgage Insurance (LMI) is required. If your LVR exceeds 80%, LMI may be necessary to protect the lender in case of a borrower not being able to repay their home loan.
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.
If eligible, our Home Loan Cashback feature lets you redraw funds that you've paid in advance of your normal scheduled home loan repayments.
You can 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.
An offset account is an account that’s linked to your home loan. The account balance is offset against the daily balance of your home loan. This means that the account balance is subtracted from the amount on which you have to pay interest.
Say you have a $10,000 in your Suncorp Bank Everyday Options Account, and $100,000 owing on your Suncorp Bank Standard Variable Rate Home Loan. If your Suncorp Bank Everyday Options Account is linked as an offset account to your Suncorp Bank Standard Variable Rate Home Loan, when we calculate the daily interest on your loan, we’d subtract that $10,000 from the $100,000 owing on your loan. This means you’ll only pay daily interest on $90,000 (while that $10,000 remains in the offset account).
A home loan will have a loan term (usually between 8-30 years), which can have the option of principal and interest repayments 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 additional 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.
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 Home Package Plus 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. The discounted rate (currently 5.45% p.a.) is calculated by subtracting a discount of 3.03% from the Standard Variable Rate (currently 8.48% p.a.). The discounted rate is only applicable to the Standard Variable loan while the loan remains in a Home Package Plus. Rates and discounts are subject to change. Pre-approvals excluded. The discounted rate is available on eligible loans applied for from 22 August 2025.
++Discounted rate is only available for new Investment loans taken out as part of the Home Package Plus Special Offer >= $150,000 and borrowings <= 80% of the security property value (LVR) inclusive of lenders mortgage insurance (if applicable), with Principal and Interest repayments. The discounted rate (currently 2.49% p.a.) is calculated by subtracting a discount of 2.96% from the Standard, Standard Variable Rate (currently 5.45% p.a.). The discounted rate is only applicable to the Standard Variable loan while the loan remains in a Home Package Plus. Rates and discounts are subject to change. Pre-approvals excluded. The discounted rate is available on eligible loans applied for from 25 March 2022.
# 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.
##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 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.
To be eligible for a Home Package Plus, you must:
- Pay an annual package fee.
- Hold a Suncorp Bank Everyday Options account.
- Hold an eligible home loan that is a Standard Variable or Fixed Rate or Access Equity facility.
- Be a personal customer or a non corporate trustee of a family trust.
- Not be applying as a business or company.
- Not be in default under any loan contract or Credit Card contract.
- Have eligible home loans with a total customer exposure or approved credit limit of $150,000 or more.
- Home Loans provided to approved applicants only.
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.
Check your eligibility
To apply online, you must be:
- 18 - 67 years of age, and
- a permanent Australian resident/citizen who currently resides in Australia.
You'll need:
At least one form of ID from either an:
- Australian Driver's Licence
- Medicare Card or
- Passport
Book a time with a home loan expert if you:
- are self-employed
- are retired
- are planning to apply with a guarantor
- have a Suncorp Bank business lending product
- would like a split loan, or
- are looking for a home loan without the Home Package Plus or Better Together Special Offer.
