Cairns Bank logo Search

Frequently asked questions

Frequently asked questions

Here are some frequently asked questions.  If you have any other questions , please call (07) 4031 4460 between 9am and 4pm, Brisbane time, Monday to Friday.

General FAQs

How long does it take to get a loan approved?

For most home loans, we can give you a response within 48 hours once we have received all of the information. That’s one of the advantages of being local. Personal loans can be even faster.

What do I need to bring to apply for a loan?
  • Proof of income
  • Last 3 or year to date pay slips or last 2 years Tax Assessments
  • Support for rental income – rental statements or copy of lease
  • The latest 3 months statements on all bank and credit card accounts
  • Statements on superannuation and shares held
  • Loan statements covering the last 12 months on any other loans (not Cairns Bank) that you may have
  • Current rates notice on all properties owned
  • If you have already bought a property – a copy of the contract
  • Personal identification
How much deposit do I need for a home loan?

You may be eligible for a home loan with as little as 5% deposit but ideally you will have 20%. When you have less than 20% deposit, you may need to purchase lenders mortgage insurance. Lenders mortgage insurance protects Cairns Bank from financial loss if you fail to meet your obligations under the loan. The more you need, the more it costs so it is sometimes better to wait until you have a bigger deposit. We suggest that you talk to us if you are in this position, because the better we know you circumstances the more we are able to help.

Is Cairns Bank affiliated with another Bank?

The simple answer is no. Cairns Bank is independent of all other banks - we are owned by our customers. 

Who owns Cairns Bank?

Cairns Bank is 100% owned by its customers – it is a customer owned bank. There are a number of customer owned banks in Australia. In fact if you add up all of their assets, customer owned banks would be the fifth biggest banking provider, holding over $106 billion in assets.

Being owned by its customers, Cairns Bank is able to focus on maintaing our high level of quality customer service, because our customer's needs are our priority rather than maximizing share prices and profits. This is why we still do things like getting people to answer our phones (no “press 3 for loans” or “5 for other information”). Instead, one of our friendly staff will answer the phone and look after your enquiry.

Cairns Bank is licenced under the Banking Act 159 and is regulated the same as any other bank.  We have also been around for over 120 years (since 1899). We have experience and we've stood the test of time.

Payment Information – when is my payment processed?

Transactions between Cairns Bank accounts happen instantly.

For external payments (direct entry and BPAY®) payments loaded by 3:30pm will be sent by us on that day. While we do not control the processing times of other financial institutions, funds would normally be available the following business day. Funds transferred after 3:30pm, on weekends or public-holidays may take a little longer.

Why did you change names to Cairns Bank?

In 2020 Cairns Penny Savings & Loans Limited launched a new trading name Cairns Bank.

We engaged independent branding experts Tropic Studio to obtain customer and stakeholder feedback and conduct research within the community on awareness of the name Cairns Penny Savings & Loans Limited and what it meant to them. There was an undeniable message that to reach the next generation of customers, we needed to change our name to something that more closely identifies with the services we provide and is relevant to a younger generation. The Cairns Bank branding was carefully designed to celebrate our heritage and history while looking forward to the future. 

Importantly, we recognised the importance of respecting our 120-year heritage and the importance of ensuring that our values and service levels - the very things that make us unique in the banking world - continue.

We are here to help.

Call us

(07) 4031 4460

(07) 4031 4460

Mon – Fri
9:00am – 4:00pm

Talk to an expert

22-24 Grafton Street, Cairns