Suncorp Bank
Back To Basics
Refinance Variable Principal & Interest 0 Years 80% LVR
6.14%
Interest rate
6.15%
Comparison rate
Rates as at 28 Sep 2026
Ratings
★ ★ ★ ★ ★ (1 reviews)
About this rate option
Suncorp Bank's Back To Basics loan offers a variable rate of 6.14% (comparison rate 6.15%) for refinancing an existing home loan, with principal-and-interest repayments that reduce the balance over time. The variable rate can move when the lender changes its rates. Borrowing is available up to 80% of the property value, meaning a deposit of at least 20%. The loan charges no monthly account keeping or ongoing annual fee, and allows unlimited additional repayments that can be redrawn without a cashback fee.
This summary was generated from Suncorp Bank’s published product data for this specific rate option. Always confirm current rates with the lender.
About Back To Basics
Key Features
- While it does not have the convenient that comes with an offset account, but $Back To Basics comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
Fees & Costs
- Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
- Suncorp Bank charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property.
Borrowing Limits
- An LVR of 90% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.
- An LVR of 95% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.
Eligibility
- Interest only repayment option is not available with Suncorp Bank Back To Basics for buying next home.
- Interest only repayment option is not available with Suncorp Bank Back To Basics for construction loan.
- Interest only repayment option is not available with Suncorp Bank Back To Basics for first home buyer.
- Interest only repayment option is not available with Suncorp Bank Back To Basics for refinance.
💡 Tip: To get approved for an interest only home loan you need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires. Sometimes extending your interest only period can be tough and getting approved for a P&I refinance is a lot easier.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Suncorp Bank or a mortgage broker just to be sure. This information should be used as a guide only.
Other rate options for Back To Basics
Refinance
Variable · Principal & Interest
0 Years · 60% LVR
6.13%
Refinance
Variable · Principal & Interest
0 Years · 70% LVR
6.14%
Refinance
Variable · Principal & Interest
0 Years · 80% LVR
6.14%
Refinance
Variable · Principal & Interest
0 Years · 90% LVR
6.39%
Refinance
Variable · Principal & Interest
0 Years · 95% LVR
7.34%
Investment
Variable · Interest Only
0 Years · 90% LVR
9.49%
Investment
Variable · Principal & Interest
0 Years · 90% LVR
9.07%
Construction
Variable · Principal & Interest
0 Years · 60% LVR
6.13%
Construction
Variable · Principal & Interest
0 Years · 70% LVR
6.19%
Construction
Variable · Principal & Interest
0 Years · 80% LVR
6.19%
Construction
Variable · Principal & Interest
0 Years · 90% LVR
6.39%
Construction
Variable · Principal & Interest
0 Years · 95% LVR
7.34%
Frequently Asked Questions
Are there costs when I exit or refinance to another lender?
Suncorp Bank charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property.
Does Suncorp Bank Back To Basics comes with an offset account?
No, Back To Basics does not come with an offset account. Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
Does Suncorp Bank Back To Basics comes with an offset account?
No, Back To Basics does not come with an offset account. While it does not have the convenient that comes with an offset account, but $Back To Basics comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
What are the costs to apply for Suncorp Bank Back To Basics?
There is no upfront costs to apply for Back To Basics Application fee: $0
Valuation fee: $0
Settlement fee: $0
Fees
- Application fee
Important Information
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Suncorp Bank or a mortgage broker just to be sure. This information should be used as a guide only.