If you have a Suncorp home loan, you've probably received a letter about the move to ANZ. It's a lot to take in, and for some borrowers it means real changes to how their loan works.
Here's the short version. Every Suncorp home loan moves to ANZ by June 2027, and you can't opt out or pick your date. You don't need to refinance just because of the move. But if you've paid ahead on your loan, rely on more than one offset account, hold a loan in a company name or are partway through a build, it's worth looking at your options now, while you still have time.
We're helping Suncorp borrowers across Springfield and Ipswich, QLD understand exactly what changes for them, and whether to stay with ANZ, adjust their loan before the move or refinance with one of our 60+ lenders. This guide walks you through it.
Key takeaways
- Every Suncorp home loan moves to ANZ by June 2027. You can't opt out.
- ANZ allows one offset account per loan, so Suncorp sub-accounts will stop reducing your interest.
- Paid ahead? Expect a higher minimum repayment at ANZ. Plan before the move, not after.
Concerned about the move, or want to see your options?
Book a call with our expert team. We're helping lots of clients navigate the Suncorp to ANZ change and find the best home loan options for their needs.
What is happening to Suncorp Bank home loans?
ANZ bought Suncorp Bank on 31 July 2024. Since then, little has changed for Suncorp customers, but that's about to shift. Suncorp is now writing to customers, and all accounts, including home loans, will move to ANZ products and systems by June 2027.
Three things to know up front:
- ›You can't opt out or delay: Suncorp has confirmed customers can't opt out, delay the move or choose when it happens.
- ›Suncorp has stopped writing new home loans: it closed to new applications on 7 October 2026. If you need a top-up or a new loan, you'll need to go to ANZ or another lender.
- ›Your letter is specific to you: the changes depend on your loan type and features, so read yours closely. It may not match what a friend or neighbour received.
The move timeline at a glance:
- ›September 2026: customers told their banking will move to ANZ.
- ›October 2026: home loan customers sent early notice of the key changes to their loans.
- ›End 2026 to early 2027: more detail on how and when your move will happen.
- ›2027: accounts move to ANZ, with the transition due to finish by June 2027.
Source: Suncorp Bank Move Hub, Broker News and MPA.
What stays the same when your Suncorp loan moves to ANZ?
Not everything changes. Your interest rate and loan balance carry across exactly as they are on the day of the move. Variable rates can still move afterwards under your loan terms, just as they could at Suncorp.
Any hardship arrangement you have now continues as agreed. If you're struggling with repayments, Suncorp's Customer Assist team is on 1800 225 223, and ANZ takes over that support after the move.
What does change is how your loan works day to day. These are the six changes worth understanding.
The six changes that matter most for Suncorp borrowers
1. Your minimum repayment may go up if you've paid ahead
This is the one catching most people out. At Suncorp, extra repayments could lower your minimum repayment, because the bank recalculated it on the reduced balance. ANZ doesn't do that. Your extra repayments still reduce what you owe, but your minimum stays where it was. So if you've built up a redraw or cashback balance, your ANZ minimum will probably be higher than what you pay today, even though your balance hasn't changed.
There is an upside: a higher repayment clears the loan sooner and saves interest. The catch is cash flow. If your household budget is built around the lower Suncorp figure, the jump could hurt.
Your first repayment after the move will be the same as your last Suncorp minimum. ANZ will then write to you with your new minimum and when it starts, giving you at least 30 days' notice.
2. Multiple offset accounts are going
Suncorp let you link sub-accounts to your Everyday Options offset account, and every dollar across them reduced your loan interest. Plenty of people use this to split their money into bills, holidays and a rainy-day fund.
ANZ does offer an offset account, the ANZ One Offset, but you can only link one to your home loan. After the move:
- ›Main account: your main Everyday Options account in offset mode becomes your ANZ One Offset.
- ›Sub-accounts: become ANZ Access Advantage transaction accounts and no longer reduce your interest.
- ›Fees: these accounts get a fee waiver, so there's no monthly account fee.
Some customers who used multiple offsets will get a small ongoing discount on their home loan rate, based on how their accounts looked on 22 September 2026. Your letter will tell you if you qualify.
On a fixed rate with sub-accounts? Your main account also becomes a standard transaction account until the fixed period ends. After that, you'll need to set up an eligible ANZ offset.
3. Loans with no balance will close
ANZ only keeps a loan open if there's a balance owing. If yours is at zero or in credit on the move date, ANZ may close it. Any credit is returned to you, but you lose access to redraw. To keep the loan open, perhaps as a backup source of funds, withdraw some cashback before the move so there's a balance owing.
4. Home loans in a company name lose redraw
ANZ's version of this product has no redraw. Any advance funds you don't withdraw before the move will be applied to the loan, and you won't be able to get them back out. On a fixed rate? You'll need to book a Suncorp appointment to access those funds.
5. Construction loans get a 24-month deadline
Construction loans move to a standard ANZ setup, and you'll have up to 24 months from the move to finish building and fully draw the loan. If you're paying principal and interest now, you'll switch to interest only during the build, at the same rate. If you're already on interest only, you'll stay on it until your final drawdown or the end of your interest-only period, whichever comes later. Extra repayments made during construction can't be redrawn, and your remaining loan term will be shortened by the construction period. Mid-build? Our guide to construction loans in Springfield and Ipswich explains how progress draws and interest-only periods work.
6. Scheduled transfers won't increase on their own
If you pay by a direct debit set up with Suncorp, it carries across and increases automatically to meet a higher ANZ minimum. If you pay by a scheduled transfer you set up yourself, by BPAY or from another bank, it won't. You'll need to update it, or you could fall short of your new minimum without realising.
Source: Suncorp Bank home loan change notice and Move Hub.
"The Suncorp borrowers we're hearing from aren't upset about ANZ as a bank. They're worried about losing the features they chose Suncorp for, especially multiple offsets. The good news is there's time to sort it out properly before the move, rather than reacting once the new repayment lands."
Mel Wright · Director and Principal Mortgage Broker, Zest Mortgage Solutions · Chat to Mel →
Free Suncorp loan review Got your Suncorp letter? Let's go through it together. Bring your letter and your latest loan statement. We'll explain what changes for your loan at ANZ, and compare it against your options across 60+ lenders.
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Who is most affected by the Suncorp to ANZ move?
For many people, the move won't change much beyond the logo. You're most likely to notice it if:
- ›You've paid well ahead: you have a large redraw or cashback balance on a principal and interest loan.
- ›You bucket your savings: your money is spread across Suncorp sub-accounts that offset your loan.
- ›You're on a fixed rate with sub-accounts: you'll have no offset at all until the fixed period ends.
- ›Your loan is in a company name: you lose redraw, and any funds you don't withdraw get locked into the loan.
- ›You're building: your construction loan won't be fully drawn for a while.
- ›Your loan is paid off or in credit: it will close unless you act.
How could your repayment change? A simple example
Here's a simple illustration of why your ANZ minimum could be higher. The numbers are rounded and aren't based on your loan.
Say you borrowed $450,000 over 25 years at 6.5% and have since paid $50,000 ahead. You now owe $400,000, with $50,000 available in redraw. Suncorp may have recalculated your minimum on the lower balance, to about $2,700 a month. ANZ won't recalculate for those extra payments, so your minimum stays based on the original schedule, at about $3,040 a month. That's roughly $340 more each month for the same debt.
Your numbers will depend on your balance, rate, remaining term and how far ahead you are. Suncorp's Estimated Home Loan Repayment Calculator on its Move Hub gives a personal estimate, or we can work it out with you.
Illustrative only. Assumes a constant 6.5% p.a. rate, monthly principal and interest repayments and no fees.
What are your options before the move to ANZ?
You have time, and more options than you might think. The right one depends on what matters most to you: keeping repayments down, keeping your offset setup, or keeping access to your extra money.
- ›Put some or all of your redraw back into the loan: your ANZ minimum moves closer to what you pay now. The trade-off is you can't redraw that money later. On a fixed rate, you'll need to ask for this before the move. There's no fee.
- ›Keep paying your current amount: after the move, you can keep paying your old minimum and have the shortfall drawn from your redraw each month. Book a Suncorp appointment to set it up. Once the redraw runs out, you'll need to pay the full ANZ minimum.
- ›Move your savings into one account: shift money from sub-accounts into your main Everyday Options account before the move, so all of it keeps offsetting. Remember to update any direct debits linked to those sub-accounts.
- ›Withdraw your cashback: if your loan is in credit or held in a company name, take the funds out before the move so you can still access them.
- ›Refinance: you can refinance your Suncorp loan at any time before it moves, just like any other home loan.
Should you stay with ANZ or refinance?
For plenty of Suncorp borrowers, staying with ANZ is the right call. Switching costs time and money, and ANZ is a major bank with a large branch network. Still, the move is a good prompt to check your loan still suits you.
Staying with ANZ often makes sense if:
- ›Your rate is still competitive and you use one offset account, or none.
- ›You can handle a higher minimum repayment, or bring it down by putting some redraw back into the loan.
- ›You're partway through a fixed rate and break costs would outweigh any saving.
Refinancing is worth a closer look if:
- ›Multiple offset accounts are central to how you manage your money.
- ›The higher ANZ minimum would stretch your budget.
- ›You hold a home loan in a company name and need ongoing redraw.
- ›You haven't reviewed your rate in a few years and suspect you're paying too much.
Several lenders still offer multiple offset accounts, but policies change often. Rather than chasing one feature, compare the whole package: rate, fees, offset setup and how each lender would assess you today. Our guide on when to refinance a home loan in Springfield and Ipswich covers the costs to weigh up.
"Don't refinance just because the logo is changing. But if your letter shows a big jump in repayments or you're losing offsets you rely on, run the comparison now. A refinance assessed on today's income and today's valuation takes a few weeks, so leaving it until the move date limits your options."
Mel Wright · Director and Principal Mortgage Broker, Zest Mortgage Solutions · Chat to Mel →
How to refinance a Suncorp home loan before the move, step by step
Step 1: Talk to us
Bring your Suncorp letter and latest loan statement. We'll work out which changes apply to you and whether staying with ANZ or switching makes more sense.
Step 2: Check the costs of switching
We check for any discharge fee, break costs on a fixed rate, and whether lenders mortgage insurance would apply at a new lender if your equity is under 20%.
Step 3: Compare lenders and apply
We compare our panel of 60+ lenders, including those with multiple offset options if that matters to you, then lodge one well-matched application.
Step 4: Settle before your move date
We handle the discharge with Suncorp and settlement with your new lender, so your loan ends up with the lender you chose, not the one you were moved to.
Whether you're in Springfield Lakes, Ipswich or anywhere in between, the process is the same, and the earlier you start, the more choice you have.
What to do now, and when
- ›Now: read your letter, update your contact details in the Suncorp app if needed, and estimate your new minimum repayment.
- ›Before your move notice: decide whether to put redraw back into the loan, move your offset savings, withdraw cashback or refinance.
- ›After the move: look out for ANZ's repayment notice, and update any scheduled transfers so you meet the new minimum.
One more thing: scammers are using the move as cover. Neither Suncorp nor ANZ will ask you to move money urgently, share passwords or PINs, or log in through a link in a text or email. If you're unsure, call Suncorp on 13 11 75, using the number from its website.
Concerned about the move, or want to see your options?
Book a call with our expert team. We're helping lots of clients navigate the Suncorp to ANZ change and find the best home loan options for their needs.
Frequently Asked Questions
Do I have to move from Suncorp to ANZ?
Yes, if you stay with Suncorp. Customers can't opt out of the move, delay it or choose their move date. The only way to avoid moving to ANZ is to refinance your loan to another lender before your accounts move.
When will my Suncorp home loan move to ANZ?
Suncorp says all accounts will move to ANZ by June 2027. You'll be sent details about your specific move timing in advance, so keep your contact details up to date in the Suncorp app or internet banking.
Does ANZ have offset accounts?
Yes. ANZ offers the ANZ One Offset account, but only one offset can be linked to your home loan. Suncorp sub-accounts that currently offset your loan will become ANZ transaction accounts with no offset benefit.
Will my repayments go up when my loan moves to ANZ?
They may, if you've made extra repayments on a principal and interest loan. ANZ doesn't recalculate your minimum repayment for advance payments the way Suncorp could, so the minimum is likely to be higher even though your balance is the same.
Will my interest rate change when I move to ANZ?
Your interest rate at the time of the move carries across to ANZ. After that, variable rates can change under your loan terms, just as they could at Suncorp.
Can I refinance my Suncorp loan before it moves to ANZ?
Yes. You can refinance at any time before your loan moves. Allow a few weeks for the process, and check any break costs if you're on a fixed rate, before you decide.
What happens to my Suncorp construction loan?
You'll have up to 24 months from the move to finish building and fully draw the loan. If you're on principal and interest, repayments switch to interest only during construction, and extra repayments made while building can't be redrawn.
Should I use a mortgage broker or deal directly with Suncorp or ANZ?
A mortgage broker, every time. Suncorp and ANZ can only explain their own products. A broker can compare staying with ANZ against the wider market, including lenders that still offer multiple offset accounts.
Your Next Steps
The move to ANZ doesn't need to be stressful, but acting early pays off. If your letter mentions a higher repayment, lost offsets, a closing loan or a construction deadline, now is the time to look at your options, while they're all still open.
Not sure what your letter means for you? Talk to the Zest Mortgage Solutions team or call (07) 3461 6499. We'll go through it with you and compare your options across 60+ lenders.
Related article: When To Refinance A Home Loan in Springfield and Ipswich.
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External Resources
Zest Mortgage Solutions · Springfield and Ipswich, QLD · Wright Financial Group Pty Ltd (ABN 48 635 310 084), authorised under Australian Credit Licence 517192 · General information only - this article does not constitute financial advice. Zest Mortgage Solutions is not affiliated with Suncorp Bank or ANZ. Please consider your own circumstances and seek professional advice before making any financial decisions.
