This was posted 9 years 2 months 26 days ago, and might be an out-dated deal.

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Suncorp Package Loan - Loans >= $500k - Variable Rate of 4.74% Pa - No Package Fees

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I got this email when I moved to Suncorp recently because of this promo https://www.ozbargain.com.au/node/167410

Sorry I can't find the direct link on their site but have copied a screen shot.

Almost similar to the deal but the discount is 1.25% instead of 1.30% and now loans is for >= $500k

Just copied this description from the other deal:

The package fee of $375pa is also waived for the life of the loan. This is a saving of up to $11,250 over the life of a 30 year loan.

Some features of the package include:

100% offset account
Waiver of the annual fee on a standard, gold or platinum Suncorp credit card
Ability to fix portion of loan
No setup or establishment fees
discounts on general insurances with Suncorp

While taking up this loan, you can choose a free credit card "Platinum-card" and do a balance transfer.
http://www.suncorpbank.com.au/credit-cards/rewards/platinum-…
Please note, balance transfer is for 12months only as I was told I am on a home loan package.

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  • +1

    Direct link is http://www.suncorpbank.com.au/home-loans/genuine-offer
    It's 4.79% for under $500k but I'd say you'd be able to negotiate to the 4.74%.

    • +1

      Thanks, I have updated the link.

  • +1

    if you dont require the 'offset' feature (e.g. its not an investment loan or you dont intend on turning your property into and investment) then
    - Ubank - 4.54% (or 4.46 if >650K)
    - Heritage - 4.44%

    the rest of the 'bonus' features are pretty irrelevant

    • +1

      Or check out loans.com.au as they 4.48% with offset and no annual fees. Compared to Suncorp you miss out on credit card and there are some fees if u fix your loan. Although I can't vouch for loans.com.au as I am in the process of switching to Suncorp.

      • I'm with loans.com.au and it's been fine. It was nice to actually have a real valuation done instead of the typical big bank "arm chair" valuations. I did my research and the majority of complaints about loans.com.au were more to do with the customer than anything else.

        I will say that they were a bit slower than other banks to get things done but it got there, so if you are in a rush you might be better elsewhere, took all up about 3-4 weeks to get everything sorted and transfer my loan across.

    • Excuse my ignorance but what is the benefit of having the offset against an investment loan? I have an offset against my home loan which is IO but not against my investment property which is also IO.

      • If you re-draw from the loan for a non-investment it'll be non tax deductible and messy from an accounting perspective. Offset doesn't matter.

  • I am not sure other's experience with Suncorp but No Way for me!!!
    I had a LOC loan package that was free of any other fee but $25 monthly fee.
    I made them to correct three times but sick of asking the correction for various fees…
    I tried a new loan recently, they just messed everything up with my application.
    I tired to close LOC (mortgage for existed paid house) they troubled again more with various delays that also cost me.
    Last but not least, after closing account they wanted to charge me more loan package fee that not even existed.
    Well, all banks maybe same but suncorp is not the preferred one.

  • Im not sure if this suncorp loan is for 80% or lower LVR, so I dont want to neg this deal as Im not an expert but -

    CUA
    4.65%, full offset, no annual fees

    I just refinanced with $245000 loan

    But you need 80%LVR

    • U also need 80% LVR for suncorp. Any less and the discount is reduced.

      • Ok yes I just read it. In my limited ozbargain experience then this is not a bargain with CUAs current rate.

    • That CUA deal is killer. You might have just saved me thousands. Thanks fatlikeyamum :)

      • I can forward you on my details for my finders fee :P

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