Latest News

26 October, 2021 

Changes to Suncorp credit policy and ApplyOnline.

We’d like to tell you about some positive changes to our policy that affect how information is entered in the Capacity to Repay section in ApplyOnline (AOL). 

Child care expenses

The way we categorise and capture child care expenses in loan applications has improved. 
Child care expenses will now be captured and considered as part of a customers’ General Living Expenses in AOL in line with market. Our Capacity to Repay (CTR) calculator will show a child care category in the living expense table. This change will take effect from Thursday 21 October 2021.

Personal Insurance

We’re capturing personal insurance expenses differently in AOL. While we’re making the changes, between 21 October 2021 and 18 November 2021, enter personal insurance expenses (for example, Life Insurance and/or Income Protection and Sickness/Personal Accident Insurance) in the Private Health Cover field in the expense section. If there are multiple insurances that relate to this expense, please note the types of insurance in the details field.

Change to payslip requirement 

We’re also changing our policy on customer payslips for applications. This will reduce document requirements and has the potential to improve the time to yes. The change means Suncorp will accept payslips that have been issued within 45 days of the date the application is lodged in AOL. 

28 September, 2021 

Solar Home Bonus rewards customers for creating a brighter future

We’re rewarding customers who have solar panels installed as part of our commitment to sustainability and supporting customers with initiatives to reduce their environmental impact.

In a first for the Australian market, new and existing Suncorp Bank home loan customers who have a solar power system or will have one installed in their homes by 31 December 2021, may be eligible to receive a cash bonus.

New customers can receive a $3000 bonus where solar panels are installed on their home or townhouse when they take out a loan of at least $500,000.

 For existing eligible customers with no new lending, the bonus also provides a $500 reward with solar panels installed on their house or townhouse.

Solar Home Bonus eligibility for new customers

  • Application must be received by the closing date 31 December 2021 and settle by 31 March 2022;
  • New home lending of at least $500,000; 
  • Investment and owner-occupied loans; 
  • Principal & interest or interest only repayments 
  • Maximum LVR 90% (including Lenders Mortgage Insurance where applicable)
  • All home loan products: Home Package Plus Standard Variable, Fixed Rate and Back to Basics Variable
  • A Suncorp Bank transaction account is held in the name of the borrower/s; 
  • The security property is either a detached house or townhouse; and 
  • has an eligible solar power system installed at the security property and acceptable evidence is provided.

How to apply

For new customers

To apply, brokers must include clear notes in the submission that the customer is eligible for the Solar Homes Bonus and upload acceptable evidence in ApplyOnline.

For existing customers with no new lending

Customers are advised to apply via the Solar Home Bonus webpage.

Important notes