Suncorp Bank moving to ANZ
Suncorp Bank home loans are moving to ANZ in the first half of 2027, and every Suncorp Bank customer will be banking with ANZ by 30 June 2027. Your interest rate and loan balance carry across, but some features don’t. If you’ve paid ahead on your loan, your minimum repayment could rise by hundreds of dollars a month.
Here’s what’s changing, what you need to do before your move date, and when it’s worth speaking to a mortgage broker.
At a glance
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What’s happening with Suncorp Bank and ANZ?
ANZ bought Suncorp Bank from Suncorp Group for $4.9 billion, completing the deal on 31 July 2024. Since then, Suncorp Bank has kept trading under its own brand while owned by ANZ.
In September 2026, Suncorp Bank told customers their banking will move to ANZ products, services and digital platforms by June 2027. After that, the Suncorp Bank brand will be retired and you’ll bank with ANZ’s app, branches and contact centres.
This is different from HSBC’s exit, where home loans were sold to an investment firm and will be managed by a non-bank lender, Pepper Money.
How many Suncorp customers are affected?
Around 1.2 million Suncorp Bank customers are moving to ANZ. That covers home loans, everyday and savings accounts, credit cards and business banking. Suncorp hasn’t published how many of these are home loan customers.
ANZ-Suncorp merger key dates
| Date | Event |
| By 30 June 2027 | All Suncorp Bank customers move to ANZ; Suncorp Bank brand retired |
| First half of 2027 | Home loans move to ANZ (you’ll be told your date in advance) |
| 13 October 2026 | Home loan customers emailed about key changes to their loan |
| 7 October 2026 | Suncorp Bank stopped accepting new home loan applications |
| 4 October 2026 | Existing Suncorp Bank pre-approvals expired |
| 31 July 2024 | ANZ completed its purchase of Suncorp Bank |
Will your home loan stay the same?
Mostly, but not entirely. Your rate and balance carry across, but ANZ may vary your loan’s terms to match a similar ANZ product. Suncorp must send you a detailed notice of any changes that apply to your loan.
| Feature | What happens when you move to ANZ |
| Interest rate | Your rate at the time of the move carries across. Variable rates and margins can still change under your loan terms. |
| Loan balance | Carries across, including any interest accrued on the move date. |
| Minimum repayments (principal & interest) | Likely to rise if you’ve paid ahead and have money in redraw. More info below. |
| Interest-only repayments | Calculated the same way: daily on your balance, charged monthly. |
| Offset accounts | Only one offset account (ANZ One Offset) can link to each loan. Extra Everyday Options sub-accounts become ANZ transaction accounts and stop offsetting interest. |
| Redraw | Generally continues on eligible personal loans. Loans in a company name lose redraw. On fixed loans, redraw isn’t available until the fixed period ends. |
| Fixed or interest-only period ending before the move | Your loan switches to a variable principal and interest product before the move. |
| Construction loans | 24-month limit to finish building and fully draw down. Repayments switch to interest-only and redraw isn’t available. |
| Loans with a $0 balance or in credit | Closed at the move. Credit balances are returned to you. |
| Hardship arrangements | Continue as agreed, then managed by ANZ’s Financial Wellbeing Assist team. |
| Day-to-day banking | ANZ app, internet banking, branches and contact centres. |
Why your repayments could go up even though your rate doesn’t
Suncorp and ANZ calculate minimum repayments differently. At Suncorp, extra repayments lower your balance and your minimum repayment can be recalculated on that lower balance. At ANZ, extra repayments still cut the interest you pay, but your minimum repayment isn’t recalculated.
Suncorp’s own examples show the impact on a $400,000 loan at 7% with 25 years left:
| Amount paid ahead | Suncorp minimum | ANZ minimum | Increase |
| $40,000 | $2,431/month | $2,701/month | $270/month |
| $150,000 | $1,688/month | $2,701/month | $1,013/month |
The upside is that paying the higher amount clears your loan sooner and saves interest. The downside is less flexibility in your monthly budget.
Your first ANZ repayment will match your Suncorp minimum. ANZ will then send a notice with your new minimum, which starts at least 30 days after that notice.
How to keep repayments close to what you pay now. Suncorp offers three options before the move:
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Apply all of your redraw to permanently reduce your loan balance. Your ANZ minimum will be similar to your current one, but you can’t access that money again.
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Apply some of your redraw. You keep access to the rest, and your repayment rises by less.
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Use your redraw to cover the shortfall each month until it runs out. You’ll need to book an appointment with Suncorp to set this up.
If you have a fixed rate loan, you must ask Suncorp to apply your redraw before your loan moves.
What you need to do before your move date to ANZ
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Check your contact details are up to date so you receive every notice.
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Read every letter and email from Suncorp and ANZ. They’ll confirm your move date and any actions specific to your loan.
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Check your numbers. Find your current minimum repayment and redraw balance in the Suncorp Bank app, then run Suncorp’s Estimated Home Loan Repayment Calculator.
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Consolidate your offset money. Move funds from offset sub-accounts into your main Everyday Options account so it keeps reducing your interest.
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Decide what to do with your redraw before the move, using the options above.
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Withdraw redraw you’ll need if your loan is in a company name, is a construction loan, or has no balance owing.
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Talk to Suncorp early if your fixed rate or interest-only period ends soon. Suncorp will stop processing some requests closer to the move.
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Compare your loan against what other lenders offer before you’re locked into the new setup.
Watch out for scams. Neither Suncorp Bank nor ANZ will ask you to click a link about the move, share your passwords or PINs, or move money to another account to “keep it safe”. If in doubt, call Suncorp Bank directly using the phone number in your mobile banking app.
How Suncorp and ANZ will contact you
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Announcement (September 2026): email or letter confirming your banking is moving to ANZ.
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Key changes notice (October 2026): what will change on your loan type and what you may need to do.
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Move date notice: Suncorp will tell you when your loan moves, so you have time to prepare.
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After the move: ANZ sends a notice with your first repayment, your new minimum repayment and the date it starts.
Until your loan moves, Suncorp Bank is still your lender. Contact Suncorp through its app, internet banking or Move Hub, or book an appointment. After the move, contact ANZ.
Your rights during the move
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You can’t opt out, but you’re free to refinance or pay out your loan before the move.
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You must be told about changes in writing, including any variation to match an ANZ product.
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Consumer credit laws still apply. Your loan stays regulated under the National Credit Code, and both banks follow the Banking Code of Practice.
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Hardship help continues. Existing arrangements carry over. If you can’t afford your new minimum repayment, contact Suncorp or ANZ early to ask about hardship support or adjusting your repayment schedule.
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You can complain. Raise it with Suncorp or ANZ first. If it isn’t resolved, you can take it to the Australian Financial Complaints Authority (AFCA) for free.
Should you refinance before your loan moves to ANZ?
You don’t need to refinance just because your loan is moving. For many borrowers, ANZ will be fine. But the move is a natural point to check whether your loan still suits you.
It’s worth speaking to a mortgage broker if:
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your minimum repayment will rise and none of Suncorp’s options suit your budget
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you rely on several offset accounts for budgeting
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your rate is higher than what new customers are being offered elsewhere
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you have a construction loan, a loan in a company name, or a fixed or interest-only period ending soon
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you want to top up, restructure or consolidate debt (Suncorp is no longer taking new applications)
If you do refinance, aim to start several weeks before your move date. Check for break costs on fixed rate loans and any discharge fees. Remember that refinancing means a new credit assessment, so if your income or circumstances have changed, staying with ANZ may be the better option.
ANZ-Suncorp merger FAQs
Is Suncorp Bank closing?
Yes. ANZ will retire the Suncorp Bank brand in 2027 and move all customers to ANZ by 30 June 2027. Your accounts and loans move to ANZ rather than being closed (except loans with no balance owing).
When will my Suncorp home loan move to ANZ?
In the first half of 2027. Suncorp will write to you with your move date before it happens.
Will my interest rate change when I move to ANZ? No, your rate at the time of the move carries across. Variable rates can still change in future under your loan terms, just as they could with Suncorp.
Why will my repayments go up if my rate isn’t changing?
ANZ doesn’t recalculate your minimum repayment when you pay ahead, while Suncorp could. If you have money in redraw, your ANZ minimum is likely to be higher.
Can I avoid the repayment increase?
Yes. Before the move, you can ask Suncorp to apply some or all of your redraw to your loan balance. That money is absorbed into the loan, so you can’t redraw it later, and your repayments are recalculated (re-amortised) on the lower balance. Your ANZ minimum will then be closer to what you pay now. Alternatively, you can use your redraw to cover the difference each month until it runs out.
Can I opt out of moving to ANZ?
No. If you don’t want to move, you’ll need to refinance with another lender or pay out your loan before your move date.
What happens to my Suncorp offset account?
Only one offset account can link to each loan at ANZ. Your main Everyday Options account becomes an ANZ One Offset. Other sub-accounts become ANZ transaction accounts and stop reducing your interest.
Will I still have a redraw facility at ANZ?
On most eligible personal home loans, yes. Loans in a company name lose redraw, construction loans can’t redraw during construction, and fixed loans can’t redraw until the fixed period ends.
Can I still get a new loan or top-up from Suncorp Bank?
No. Suncorp stopped taking new home loan applications on 7 October 2026. Speak to ANZ or a broker if you need extra borrowing.
Is my Suncorp insurance affected?
No. Suncorp insurance is run by Suncorp Group, which no longer owns Suncorp Bank.
What if I’m in financial hardship?
Any existing hardship arrangement continues after the move. If you’re worried about affording your new repayment, contact Suncorp Bank as early as possible.
This information is general in nature and doesn’t take into account your objectives, financial situation or needs. Consider whether it’s appropriate for you and seek professional advice before making a decision.