Suncorp Bank home loan review
Also known as Norfina
Suncorp Bank is no longer accepting applications for home loans, as its customers move to ANZ, which has owned it since July 2024; pre-approvals expired from 4 October 2026. If you're looking for a new loan, look at ANZ or another lender. This review is mainly for existing Suncorp Bank borrowers, who can keep banking with Suncorp Bank for now.
This review covers what Suncorp Bank's loans include, the Home Package Plus fee and fixed-rate repayment limits, so existing customers can check their loan, and how Suncorp Bank compares with ANZ.
By Better Rate Mate Editorial Team · Last reviewed · Checked against Suncorp's own website
Latest Suncorp variable rate change
On 30 September 2026 Suncorp Bank announced a 0.25% p.a. rise on all its current variable rate home loans. It took effect on 9 October 2026; fixed rate loans weren't affected. Suncorp's announcement (checked 10 October 2026). For today's rates, see Suncorp's rates page.
Suncorp home loans at a glance
| Feature | Suncorp |
|---|---|
| Offset account | Optional 100% offset on variable loans, not during a fixed term |
| Split loans | Yes, minimum $10,000 per split; not during a fixed term |
| Fixed terms | 1, 2, 3 or 5 years |
| Extra repayments while fixed | Up to $500 a month without penalty |
| Establishment fee | $600 below 90% LVR, $990 at 90% or more, $0 in Home Package Plus |
| Package | Home Package Plus, $375 a year |
| Monthly fee | $10 account keeping fee on Standard Variable and fixed loans outside the package; nil on Back to Basics |
| Ways to apply | Online or with a Suncorp home loan expert |
| 5% Deposit Scheme | Not a participating lender |
Suncorp mortgage and home loan repayment calculator
Enter the rate for the Suncorp loan you're considering (from its rates page), your loan amount and term. The calculator uses the standard principal and interest formula lenders use, so for the same rate, amount and term it gives the same repayment as Suncorp's own calculator. It doesn't include fees or future rate changes. For the maths and assumptions, see our mortgage repayment calculator page, and test your buffer with the stress test calculator. If you're buying, you can also estimate your stamp dutyand work out how much you can borrow.
Mortgage repayment calculator
Repayments and total interest, with optional extra repayments, an offset account or an interest-only period.
Monthly repayment
$2,997.75
| Loan amount | $500,000 |
|---|---|
| Interest rate | 6.00% a year |
| Time to repay | 30 years |
| Total repayments | $1,079,191 |
| Total interest paid | $579,191 |
Year-by-year balance
| Year | Interest | Principal repaid | Balance |
|---|---|---|---|
| 1 | $29,833 | $6,140 | $493,860 |
| 2 | $29,454 | $6,519 | $487,341 |
| 3 | $29,052 | $6,921 | $480,420 |
| 4 | $28,625 | $7,348 | $473,073 |
| 5 | $28,172 | $7,801 | $465,272 |
| 6 | $27,691 | $8,282 | $456,990 |
| 7 | $27,180 | $8,793 | $448,197 |
| 8 | $26,638 | $9,335 | $438,862 |
| 9 | $26,062 | $9,911 | $428,951 |
| 10 | $25,451 | $10,522 | $418,429 |
| 11 | $24,802 | $11,171 | $407,257 |
| 12 | $24,113 | $11,860 | $395,397 |
| 13 | $23,381 | $12,592 | $382,805 |
| 14 | $22,605 | $13,368 | $369,437 |
| 15 | $21,780 | $14,193 | $355,244 |
| 16 | $20,905 | $15,068 | $340,176 |
| 17 | $19,975 | $15,998 | $324,178 |
| 18 | $18,989 | $16,984 | $307,194 |
| 19 | $17,941 | $18,032 | $289,162 |
| 20 | $16,829 | $19,144 | $270,018 |
| 21 | $15,648 | $20,325 | $249,693 |
| 22 | $14,395 | $21,578 | $228,115 |
| 23 | $13,064 | $22,909 | $205,205 |
| 24 | $11,651 | $24,322 | $180,883 |
| 25 | $10,151 | $25,823 | $155,060 |
| 26 | $8,558 | $27,415 | $127,645 |
| 27 | $6,867 | $29,106 | $98,539 |
| 28 | $5,072 | $30,901 | $67,638 |
| 29 | $3,166 | $32,807 | $34,831 |
| 30 | $1,142 | $34,831 | $0 |
Stress test this loan at higher rates, or see how much you can borrow.
An estimate: interest is charged at the repayment frequency and the rate never changes. It leaves out fees, redraws and rate changes, and assumes the lender accepts extra repayments. Check fixed rate loans for an extra repayment limit, and confirm figures with your lender.
Is Suncorp good for home loans?
Suncorp Bank is no longer accepting applications for home loans, as its customers move to ANZ, which has owned it since July 2024; pre-approvals expired from 4 October 2026.
Pros
- +Optional 100% offset on variable loans
- +Home Package Plus waives establishment, account-keeping and offset fees
- +Backed by ANZ
Cons
- -No longer accepting home loan applications (pre-approvals expired from 4 October 2026)
- -Not on the 5% Deposit Scheme lender list
- -Fixed loans only allow $500 a month extra
- -Headline rates need a low LVR and a Suncorp transaction account
- -Product terms may be changed to match ANZ products
Who Suncorp suits
- Existing Suncorp Bank borrowers checking what their loan includes
- Borrowers comparing their Suncorp Bank loan with ANZ's loans as the move to ANZ approaches
About Suncorp
Suncorp Bank (legally Norfina Limited) was acquired by ANZ on 31 July 2024 and is now part of the ANZ Group, while still trading as Suncorp Bank. To support its customers' move to ANZ, it is no longer accepting applications for home loans, and its home loans page says pre-approvals expired from 4 October 2026 and won't be extended; in the meantime customers can keep using Suncorp Bank's cards, contact centre, branches, app and internet banking. It has also said that, because it is part of ANZ, it may need to vary the terms of a Suncorp Bank product to match a similar ANZ product.
It sells a Standard Variable loan, a Back to Basics basic variable loan and fixed loans of 1, 2, 3 or 5 years, with a Home Package Plus option that bundles fee waivers for a $375 annual fee.
- Ownership
- Owned by ANZ since 31 July 2024.
- Lender and licence
- Suncorp Bank (Norfina Limited ABN 66 010 831 722), Australian credit licence 229882
Suncorp home loan products
Standard Variable
A variable loan with split, redraw (Cashback), an optional 100% mortgage offset and an Add Loan facility. It can be packaged in Home Package Plus.
Back to Basics
A basic variable loan with a lower rate and no account keeping fee. The establishment fee is $600 below 90% LVR ($990 at 90% or more), or $0 on loans of $150,000 or more.
Fixed Rate
Fixed for 1, 2, 3 or 5 years. You can make extra repayments of up to $500 a month without penalty; above that an Early Payment Interest Adjustment can apply. No split, redraw or offset during the fixed term.
Home Package Plus
$375 annual package fee. Waives the loan establishment fee and monthly account keeping fee on packaged loans and waives the offset fee.
Suncorp home loan rates: how they are set
Suncorp publishes a standard rate for each loan and applies a discount margin for eligible new lending. For example, its advertised Back to Basics rate with the Better Together offer is the standard Back to Basics rate less a discount, for owner-occupiers with a maximum LVR of 60%, principal and interest repayments and a Suncorp transaction account.
That means the headline rate needs a large deposit and a transaction account. Ask for the rate that applies at your own LVR and check the discount margin in writing, since discounts can be varied.
For a benchmark, the RBA's average rate on new owner-occupier variable loans across all lenders was 6.23% in August 2026, and 6.40% for investors (published 8 October 2026). The RBA's cash rate target was 4.60% as at 10 October 2026, after a 0.25 point rise effective 30 September 2026; its next decision is due on 3 November 2026.
Suncorp Bank vs ANZ
ANZ owns Suncorp Bank, and Suncorp Bank is no longer taking home loan applications as its customers move to ANZ. ANZ says it charges no package, set-up or ongoing fees on new loans, charges $10 a month for its offset, and is on the 5% Deposit Scheme list. Suncorp's loans have a $375 package that waives its fees, and it isn't a scheme lender. See our ANZ review.
Suncorp Bank vs Bank of Queensland
BOQ's Clear Path loan includes a 100% offset with a $10 monthly fee and no application fee; Suncorp's Standard Variable has an optional offset whose fee is waived in the $375 package. Neither is on the 5% Deposit Scheme list. See our BOQ review.
How to apply for a Suncorp home loan
- 1
Suncorp Bank is no longer accepting home loan applications, to support its customers' move to ANZ
- 2
If you're buying or refinancing after that date, compare ANZ's home loans and other lenders
- 3
Existing Suncorp Bank borrowers can keep using Suncorp Bank's app, internet banking, branches and contact centre for now
Check how much you could borrow with our borrowing power calculator; Suncorp's own calculator applies its own lending policy, so its figure can differ.
Budget for stamp duty: NSW stamp duty calculator · VIC stamp duty calculator · QLD stamp duty calculator · WA stamp duty calculator · SA stamp duty calculator · TAS stamp duty calculator · ACT stamp duty calculator · NT stamp duty calculator
Before you apply, ask for the key facts sheet for your loan amount. Every lender must provide one in the same format, which makes loans easy to compare side by side.
Suncorp home loan questions
Can I still apply for a Suncorp Bank home loan?
No. Suncorp Bank's home loans page says it is no longer accepting applications for home loans (checked 10 October 2026), and pre-approvals expired from 4 October 2026 without extension. Applications already lodged are still being assessed, and existing customers can keep banking with Suncorp Bank for now.
Is Suncorp Bank owned by ANZ?
Yes. ANZ acquired Norfina Limited (Suncorp Bank) on 31 July 2024. Suncorp Bank still sells home loans under its own brand.
How much is Suncorp Home Package Plus?
$375 a year. It waives the loan establishment fee, the monthly account keeping fee and the offset fee on packaged loans.
How much extra can I pay on a Suncorp fixed loan?
Up to $500 a month without penalty. Paying more can trigger an Early Payment Interest Adjustment.
Is Suncorp Bank part of the 5% Deposit Scheme?
No. Suncorp Bank isn't on Housing Australia's participating lender list. Its parent, ANZ, is.
