Suncorp Bank has stopped accepting new home loan applications from 7 October 2026, as part of its move to ANZ. If you have a Suncorp Bank home loan, were thinking of applying with Suncorp Bank, or simply like having a range of lenders to choose from, this change affects you. Here’s what the Suncorp Bank move to ANZ means, what stays the same, and the one feature many customers are likely to miss.
What Suncorp Bank Has Announced
Suncorp Bank says that “to support our customers and their move to ANZ”, it will no longer accept applications for home lending products from 7 October 2026 (Suncorp Bank). The change applies whether you apply directly or through a broker (MPA).
ANZ has owned Suncorp Bank since 31 July 2024. In September 2026, Suncorp Bank told its customers that it will progressively move its banking products, services and digital platforms to ANZ by June 2027 (Suncorp Bank).
According to the broker industry press, applications lodged before the cut-off will still be assessed. However, final approvals and loan documents must be issued by 27 October 2026, and those loans must settle by 26 December 2026 (Broker Daily). The same reports say the closure also covers existing customers who want a change that needs a new loan contract.
If You Already Have a Suncorp Bank Home Loan
First of all, there’s no need to panic. Your loan doesn’t stop, and your current rate, repayments and contract carry on for now. Suncorp Bank says you can keep using its cards, app, internet banking, branches and contact centre until you’re moved across, and it will share updates through the app and internet banking.
The main change is for future borrowing. If you were planning a top-up for a renovation, extra funds for an investment property, or another change that needs a new loan contract, Suncorp Bank can no longer do it. Instead, that borrowing will need to go to ANZ or another lender. If you have plans like these in the next year or so, it’s worth working out your options early rather than when you need the money.
If You Were Planning to Apply With Suncorp Bank
If Suncorp Bank was on your shortlist, you’ll now need a different lender. ANZ is one option, and there are plenty of others. Every lender assesses income, expenses and property differently, which is why different banks give different borrowing capacities. So it pays to compare more than one.
The Feature Many Customers Will Miss: Multiple Offset Accounts
One of Suncorp Bank’s more useful features is its multi-offset set-up. On an eligible variable rate loan, the Everyday Options account can run in offset mode, and the balances of the main account and up to nine sub-accounts all count towards the offset (Suncorp Bank). In practice, that means you can keep separate buckets for bills, holidays, school fees and an emergency fund, and every dollar in them still reduces the interest on your home loan.
ANZ, on the other hand, doesn’t currently offer multiple offset accounts on its home loans. ANZ says an eligible loan “can only be linked to one offset account”, and a $10 monthly servicing fee applies to each ANZ One offset account (ANZ). So as things stand, this is a feature Suncorp Bank borrowers have today that ANZ customers can’t get.
Of course, ANZ could change its offering before the move is complete, but it hasn’t announced any change so far. If you rely on your sub-accounts, watch for the letters from Suncorp Bank and ANZ, and check exactly what your new arrangement will look like. Meanwhile, some other lenders on our panel do offer multiple offset accounts, if that’s important to you.
Not sure how much an offset is worth to you? Our offset vs redraw guide explains the difference, and the mortgage offset calculator shows the interest you could save. Moneysmart also explains how an offset account works.
One Less Lender in the Market
This change matters even if you’ve never banked with Suncorp Bank. In my experience, Suncorp Bank often had sharp pricing, sensible policies and credit assessors who were good to deal with. With one less option in the mix, there’s a little less competition for your business.
Some banking groups keep more than one brand running side by side. ANZ has instead chosen to bring Suncorp Bank under its own name. That’s ANZ’s call to make. For borrowers, though, it’s a reminder that the lender that suited you a few years ago may not be the best fit today, and that comparing the market regularly is worthwhile.
What to Do Next
- Read anything Suncorp Bank or ANZ sends you. It will explain when your accounts move and what changes.
- Write down your current set-up. Note your rate, any offset or sub-accounts, and any fixed rate end date, so you can compare like with like after the move.
- Plan any new borrowing early. A top-up, renovation or purchase now needs a new lender, so allow time to compare options. See refinancing your home loan for how switching works.
- Check your fixed rate. If it ends soon, read your options when a fixed rate ends.
- Review your rate. After several rate rises in 2026, it’s worth checking that your loan is still competitive. You can read more about both banks on our Suncorp Bank and ANZ lender profiles.
Suncorp Bank Move to ANZ: FAQs
Your Existing Loan
Not right now. Your loan continues on its current terms, and Suncorp Bank says it will share updates through its app and internet banking as customers move to ANZ by June 2027. Keep an eye out for those updates.
Not with Suncorp Bank if the top-up needs a new loan contract. That borrowing now needs to go to ANZ or another lender.
Offsets and the Move to ANZ
As things stand, no. ANZ doesn’t currently offer multiple offset accounts, and its home loans link one offset account to each loan. ANZ could change this before the move is complete, so check the details of your new arrangement when Suncorp Bank and ANZ contact you.
Suncorp Bank customers are being moved to ANZ products. You can refinance to another lender at any time if that suits you better, although costs such as break fees on a fixed rate loan may apply.
If you have a Suncorp Bank home loan and want to talk through what the move to ANZ means for you, or you’d like to compare your options, I’m happy to help.
Published 6 October 2026, based on information from Suncorp Bank, ANZ and industry reports at that date. Details of the move to ANZ may change. The information on this page is general in nature and does not take into account your objectives, financial situation or needs. Lending criteria, fees and charges apply. Consider whether it is appropriate for you and speak to us for advice specific to your situation.
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