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Suncorp Fixed Rate Home Loan

The Suncorp Fixed Rate Home Loan offers fixed rates from 6.69% p.a. (9.08% p.a. comparison rate*). Low deposit home loans.


Updated 3 December 2023

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Interest Rates
Enter scenario to see relevant rates
I want to borrow
with a deposit of
for my
Principal & Interest(% p.a.)
Rate
Type
Interest
Rate
Comparison
Rate*

1 Year Fixed

6.95%

9.15%

2 Year Fixed

6.89%

8.90%

3 Year Fixed

6.94%

8.70%

5 Year Fixed

6.84%

8.30%

Interest Only(% p.a.)
Rate
Type
Interest
Rate
Comparison
Rate*

1 Year Fixed

6.69%

9.08%

2 Year Fixed

6.69%

8.83%

3 Year Fixed

6.94%

8.67%

5 Year Fixed

6.94%

8.33%

Expert Review

If you're looking for a simple home loan with basic features, then the Suncorp Fixed Rate Home Loan is worth considering. As one of Suncorp's more basic home loan offerings, it features fixed interest rates across the Owner Occupier and Investor categories. Suncorp also offers a home loan package with more comprehensive features, so it is prudent to consider what's most important to you before applying. Further details about the Suncorp Fixed Rate Home Loan benefits are outlined below.

Basic non-package loan for owner occupiers:
The key features under this relatively basic offering for owner occupier loans are focused on pricing. Specifically, pricing advertised includes a $10 monthly fee, with a 3 year fixed interest rate from 6.94% p.a. (8.67% p.a. comparison rate), in addition to other investor fixed-rate terms, shown on this page. Upon expiry of the fixed rate term, the interest rate applied to the loan will revert to a variable rate, currently starting from 9.23% p.a. (9.41% p.a. comparison rate), however borrowers usually renegotiate prior to this. Please keep in mind that despite this being a relatively basic no-frills product offering by Suncorp, these rates should be able to be negotiated down, particularly for people borrowing a sizeable amount, or for those who hold a sizeable deposit or equity in a property already. This loan does require a minimum of either 5% deposit or 5% existing equity, and often anything above these amounts will help you negotiate a lower interest rate. There is the option to being able to make extra repayments. In terms of repayments Interest Only repayments or Principal and Interest repayments are available.
Basic non-package loan for investors:
The key features under this relatively basic investor offering are focused on pricing. Specifically, the pricing advertised includes a $10 monthly fee, with a 3 year fixed interest rate from 7.02% p.a. (9.01% p.a. comparison rate), in addition to other fixed-rate periods also displayed on this page. Upon the expiry of the fixed rate period, the loan will revert to a variable rate priced loan, currently priced from 9.70% p.a. (9.85% p.a. comparison rate), however commonly investors renegotiate a new loan prior to this expiry date. Negotiation of these rates down should be possible, depending on your circumstances. Also, while you should speak with your accountant, many investors opt for an interest only loan, of which the rates are also outlined on this page. While these are relatively lower rates under Suncorp's more basic no-frills offering, these rates may still be able to be further negotiated down, particularly for investors who are borrowing a large amount, or if they who hold a sizeable deposit or equity in the property already. For investors, this loan does usually require a minimum of 10% deposit or 10% existing equity in the property, and often anything above these amounts will help you negotiate a lower interest rate. There is the option to being able to make extra repayments. In terms of repayments Interest Only repayments or Principal and Interest repayments are offered.
Summary
Considering the basic features available with this product, this home loan will appeal to a range of people, either as a home owner or as an investor. It will also appeal to someone where the lesser known Suncorp brand and service isn’t a concern, or for those who are happy to bank with a lender that offers features most important to them, over who the lender is.

Product Details
1,2,3 or 5 Year Fixed Rate"
- Suncorp
Fees

•

$600 establishment fee

•

$10 ongoing monthly fee

Other fees may apply.

Loan Amount

•

From $10,000

Feature

•

Make extra repayments

TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the Suncorp website.

More information
* Comparison rate is based on a secured loan of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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