Changes to home loans
As we shared recently, Suncorp Bank is becoming ANZ. Your home loan will move to ANZ in the coming months, and there will be changes to home loans that you need to be aware of.
What stays the same?
Your interest rate applicable at the time of the move to ANZ. We may change our variable rates and any applied margin as per your loan terms and conditions.
Your loan balance, including any interest accrued as of the date of the move to ANZ.
What are some key changes?
Minimum loan repayments
If you have made advance payments and have funds available in Cashback/redraw, your ANZ minimum loan repayment is likely to increase because ANZ calculates minimum loan repayments for Principal and Interest loans differently.
Next step:
Use the Estimated Home Loan Repayment Calculator to see what this could mean for you and explore your options.
Offset accounts
At ANZ, only one offset account can be linked to your home loan. Any additional Everyday Options Sub-Account(s) will become ANZ transaction accounts and will no longer offset your loan.
Next step:
You could consider moving funds into your main Suncorp Bank Everyday Options Account to continue to receive the full offset benefit after the move to ANZ.
Home loans with no outstanding balance
Your home loan will close when it moves to ANZ if you no longer have an outstanding balance or your loan is in credit.
If it closes, you’ll no longer be able to access advance payments through Cashback/redraw. Any credit balances will be returned to you in accordance with your loan terms and conditions.
Next step:
You could consider withdrawing any advance funds (Cashback/redraw) you have before the move if you want to keep the loan open.
Home loans in a company name
Home loans in a company name will no longer have access to Cashback/redraw after moving to ANZ.
Additional repayments will still reduce your loan balance but you won’t be able to withdraw them after the move.
Next step:
If you want to access these funds, submit a Cashback withdrawal request to withdraw available funds before your loan moves to ANZ.
Construction loans
After your loan moves to ANZ, construction loans will have a 24-month limit to complete construction and fully draw down your loan. During this period, loans will be switched to Interest Only repayments and redraw will not be available.
Next step:
If you want to access these additional payments, submit a Cashback withdrawal request to withdraw available funds before your loan moves to ANZ.
Where do I start?
Step one:
Consider the letter or email you’ve been sent about the key changes to your loan and contact us at the Move Hub if you need help or want to discuss your loan options or refinancing, including reducing your new minimum loan repayment.
Step two:
Use the Estimated Home Loan Repayment Calculator to compare your current Suncorp Bank minimum loan repayment with your estimated ANZ minimum loan repayment.
Step three:
Review some of the key changes to your loan and consider your options as set out in the email or letter we sent you. If you need help or want to discuss your loan options or refinancing, book an appointment with us.
Key terms
Minimum loan repayment
The required amount due each repayment period to keep your loan on track to be repaid within the agreed term. This may differ from the actual repayment you make, which could be higher as it could include advance payments.
Advance payments
The extra repayments you’ve made on top of your minimum loan repayments.
Cashback/redraw
The portion of advance payments that may be available for you to access, depending on your loan features.
Loan balance
The total outstanding amount of the loan.
In credit
Your loan account has a credit balance.
I still have questions
Frequently Asked Questions
Your banking is moving from Suncorp Bank to ANZ – we call this 'the move from Suncorp Bank to ANZ'. As part of the move, we’re changing the terms and conditions of your Suncorp Bank accounts, including loans.
This means that your Suncorp Bank accounts will move to ANZ. After the move, you’ll bank with ANZ and use ANZ products, services, branches and contact centres. For example, a Suncorp Bank transaction account will become an ANZ transaction account, with some similarities and some differences.
If you have a Suncorp Bank home loan or business loan (excluding equipment finance, business overdraft and line of credit), you’ll soon be sent an email or letter from us outlining some of the key changes that will apply after the move. The changes will depend on the loan type and its features. Read the email or letter carefully, as it explains some of the key changes to your loan and what you may need to do before the move.
ANZ will share more information about deposits, savings and other products in the coming months.
In the meantime, you may want to make sure your contact details are up to date so Suncorp Bank and/or ANZ can provide you with important information that you’ll need to know about the move.
FAQ
app
How can I check what my current home loan repayments are?
You can find your current home loan repayment details in the Suncorp Bank App:
- Tap ‘Accounts’ in the menu bar and select your home loan.
- Choose ‘Account Details’ and your repayment details will be displayed under the Payment summary section.
- Alternatively, ask Scout for your home loan repayment details by tapping ‘Support’ in the menu bar and selecting ‘Start a new chat’.
You can also view your home loan repayments in Internet Banking:
- Click ‘My Accounts’ from the left-hand menu.
- Select your home loan account to see your current repayment details, including the amount, interest rate and schedule of payments.
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View details about your mortgage repayment amount, date and schedule in Internet Banking and the Suncorp Bank App.
If you have an existing Suncorp Bank Home or Personal Loan, your interest rate will appear on your statement. If you have Internet Banking simply click on the account number to display a summary of the loan which will include the current interest rate.
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.
For now, nothing changes. Before your loan moves to ANZ, you can still access any available Cashback/redraw funds on eligible loans.
After the move, what you can access will depend on your loan type and features. You’ll soon be sent an email or letter from us outlining some key changes to your loan that will apply after the move.
Suncorp Bank is still your loan provider until your existing loan moves to ANZ, and in the meantime we’ll continue to help you manage your existing loan.
If you're thinking about refinancing, switching products or making any other change, book an appointment, contact us or speak with your broker or Relationship Manager about your options before the move. We’ll stop processing some service requests closer to the move date.
We're no longer accepting new loan applications. If you already have one in progress get in touch with us or your broker so we can talk through what this means for you.
Once your loan moves, you’ll bank with ANZ and can contact them for any changes to your loan.
We’re committed to completing the assessments for all in-progress home loan applications. Your lender or broker will contact you to advise you of any status updates.
If you had an existing pre-approval with Suncorp Bank, we notified you that from 4 October 2026, your pre-approval will expire and will not be extended or reinstated. If you already submitted a full home loan application prior to this date, your lender or broker will contact you to advise you of any status updates.
Please visit the Home Loans page for more information.
ANZ offers redraw on some eligible loans, so if you'd like to see whether this could work for you after the move, get in touch with ANZ. The team can talk through your options and help you find what suits you best.
Please note, this applies to personal Home Loans only and does not apply to Home Loans in a company name.
ANZ manages fixed rate and interest-only periods a little differently to Suncorp Bank.
If your fixed rate and interest-only periods end on different dates and your loan is affected, ANZ and/or Suncorp Bank will be in touch before your loan moves to ANZ.
You’ll be guided through what it means for your loan, any impact on your repayments or structure, the options available to you, and anything you might need to do.
If you're having trouble making repayments, or think you might, get in touch with us as soon as you can. Acting early can give you more options and help stop things becoming harder to manage.
Both Suncorp Bank and ANZ offer a range of support depending on your situation, including:
- financial hardship support
- adjustment of your repayment schedule
- payment deferrals, where eligible (interest will still accrue during this time).
If you already have a financial assistance arrangement in place, it will continue as agreed. If you need support visit the Financial Difficulty page to find out more.
Have another question about the move to ANZ?
Chat to our virtual assistant, Scout. Scout is here to help or can connect you to someone who can.
Need extra support?
If you need communications in a different format, an interpreter, or any other kind of support, let us know. We'll work with you to make sure you have the information and assistance you need.
Experiencing financial difficulty?
Support is available if you need help with your options. Find out more about how we can help if you’re experiencing financial difficulty.
Any ongoing hardship arrangements with Suncorp Bank will continue as agreed. After the move, your financial arrangements will apply and you’ll be supported by the ANZ Financial Wellbeing Assist Team.
Call us on 13 11 75 and we'll talk through your options with you.
Read more about how we can help if you’re experiencing financial difficulty
Protecting yourself from scams during the move to ANZ
If you're ever unsure about an email or text claiming to be about the move to ANZ, don't click any links or give any banking details. The safest way to verify if a communication is from Suncorp Bank or ANZ is to check our Staying Scam Safe page or call us on 13 11 75.
Neither Suncorp Bank nor ANZ will ever ask you to:
- move money urgently to an account you don’t already have access to, or to ‘keep it safe’
- share sensitive banking details like passwords or PINs
- click a link in an email or SMS about the move to ANZ, including a link to log in to your account
- give or remove access to your computer, phone, or other devices.
If something doesn't feel right, stop and contact us – we're here to help.
Find out more information about staying scam safe before and during the move to ANZ
Things you should know
Any advice as well as any information relating to the move from Suncorp Bank to ANZ is of a general nature and is being provided without taking into account your particular financial needs, circumstances and objectives. While every effort has been made to ensure the accuracy of the information, it is not guaranteed. You should obtain professional advice before acting on the information in this website. It does not constitute legal or tax advice, and you should seek expert advice in this regard.
Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ) acquired Norfina Limited (ABN 66 010 831 722) (Suncorp Bank) on 31 July 2024. As Suncorp Bank is now part of the ANZ Group, it may be necessary to vary the terms of your Suncorp Bank product to match the terms of a similar ANZ product. This means you may end up with a product that has different terms and features to those you initially applied for. In any event, Suncorp Bank will provide you with a more detailed notice of these changes if the variation applies to your products. A full list of changes relating to the current product offerings can be found at suncorpbank.com.au/variation. Please contact us if you have any questions or if there is a feature that is important to you.
