Do you have a question about Personal Loans? Chances are, youll find the answer below.
What would you like to know about?
Loan Features
Rates and Fees
Applying for a personal loan
Personal loan repayments
Personal Loan Features
For what purpose can I get a personal loan?
For any worthwhile purpose, really. You may like a Suncorp Personal Loan to help you buy a car, renovate your home, settle personal health bills, take a holiday or consolidate debt. It's extra cash when you need it. If you're not sure whether we'd lend money for the purpose you have in mind, call us on 13 11 55 and speak to one of our personal loan specialists wholl be happy to discuss your needs.
Who is eligible for a Suncorp Personal Loan?
Anyone over 18 years of age whos also a permanent Australian Resident may apply for a Personal Loan with Suncorp. Approval will be subject to our standard lending policies.
Whats the difference between a secured loan and an unsecured loan?
A secured personal loan is only available for the purchase of new cars or used cars less than five years old, from a dealership. For this type of loan, Suncorp registers a chattel mortgage over the vehicle being purchased. This means that Suncorp has a registered interest in the vehicle purchased and uses this as security for the loan, therefore we can offer you a lower interest rate.
An unsecured car loan is available for all cars, regardless of age or purchase terms. Most of our used car loans will be in the form of an unsecured Car Loan.
How do I check my balance/statement online?
If youre registered for Suncorp Internet Banking, you can check your personal loan balance or statement online. If youre not registered, call 13 11 55 to do so, or you can register online.
Can I increase my loan amount if I want to?
Of course! If you want to increase your loan amount after it has settled, simply apply for the new amount. Suncorp can refinance your existing loan facility for you.
When should I take out my loan?
Thats up to you. On secured loans, Suncorp offers a pre-approval facility that allows you to get conditional approval before purchasing your car. You can also apply for finance after signing a contract for a motor vehicle, or at any other time when you have a worthwhile purpose.
What is the minimum/maximum loan amount?
The minimum loan amount is $5,000. There is no maximum amount.
What is the minimum/maximum loan term?
The minimum loan term is 12 months. The maximum loan term is 7 years.
Personal Loans Rates and Fees
How is the interest on my loan calculated?
The interest on your loan is calculated daily and charged monthly.
What is the current Personal Loan Interest Rate?
View a list of the current Personal Loan Interest Rates.
What fees may apply?
A $175 establishment fee
Stamp Duty and Government fees
Early payout fee of $300 applies if the loan is paid out within 12 months of settlement. The fee is payable on the day the loan is paid out.
For car loans only: fees payable to REVS (Register of Encumbered Vehicles) apply. This is usually about $7.50.
Are there any ongoing fees on my loan account?
No, there are no monthly account keeping fees.
Can I redraw funds that I have paid in advance?
No, any payments that youve made in advance of scheduled repayments cannot be redrawn. However, if you are in advance on your personal loan, you can speak to one of our personal loan specialists about suspending up to three payments at a time.
Applying for a personal loan
How long does the application process take?
Completing the application will take between 10 and 20 minutes depending on the complexity of your personal situation.
What supporting information will I be asked to provide?
Personal ID
Proof of residence
Proof of income
Proof of current liabilities
Proof of non-Suncorp savings
How do I apply for my loan online?
Simply use our online application form.
Can I apply for my loan at a branch or over the phone?
Yes! You can apply for your Suncorp personal loan online, at any Suncorp branch or by calling one of our personal loan specialists on 13 11 55.
How can I check the status of my application?
If you applied online, you can also check the status of your application online or you can call Suncorp on 13 11 55 and quote your full name and the date you applied to one of our personal loan specialists. If you applied at a branch, contact that same branch or call Suncorp on 13 11 55 and quote the reference number you wouldve be given when you applied.
Personal loan repayments
Can I make additional payments on my loan?
Yes, you can make as many additional loan payments as you wish without penalty. However, if you pay the loan out completely within 12 months you may be charged an early payout fee.
Can I make my loan repayment online?
Absolutely. You can make your loan repayments online through Suncorp Internet Banking, either by setting up a periodic transfer or making one-off payments. Find out more about Internet Banking, or call us on 13 11 55 to register.
What are my repayment options?
Repayments to your Suncorp Personal Loan can be made either at the branch, by phone, via Internet Banking or as a direct debit from your account.
How frequently can I make my loan repayments?
Suncorp can tailor your repayments to be weekly, fortnightly or monthly you can choose what works best for you.
