Suncorp Bank Announces Market Leading Fixed Rate

Monday, 7 March 2016

Suncorp Bank has today announced a market-leading three-year fixed rate of 3.99% p.a., giving home owners and investors the option to lock in a highly competitive rate. 

Further strengthening the competitive proposition of its multi award-winning Home Package Plus product, the new 3.99% p.a. three-year fixed rate is available on new owner occupied or investment loans of at least $150,000 (maximum LVR of 90%).

Suncorp Bank Head of Intermediaries, Steven Degetto, said the new rate provided brokers and customers with the opportunity to benefit from historic low interest rates.

“Interest rates are now at the lowest they have been in more than 40 years, making it a good time for not only current borrowers to consider their home loan options, but also for those looking to enter the property market,” said Mr Degetto.

“One of the main benefits of fixed loans is that it gives consumers certainty. This latest offer gives home owners and investors the option to lock in one of the most competitive rates that has been available in the market for decades. It is also a great option for consumers who want a split loan.

“We understand the competitive environment in which our brokers operate, and we wanted to give our broker partners access to a proposition that supports both their investor and owner-occupier customers.

“Today’s announcement, coupled with our new Elevate rewards program and simplified lending policies reinforces our commitment to strengthening our relationship with our broker partners, and as importantly, our broker partners’ relationship with their customers.”

Effective today (7 March 2016), Suncorp Bank has also announced changes to its Home Package Plus variable product and Back to Basics:

ProductRepayment TypeAmountLVRCampaign Interest Rate
Home Package Plus Three-year fixed rate - owner occupied and investmentPrincipal and interest, interest only $150,000 +≤90% LVR (including Lenders Mortgage Insurance) 3.99% p.a.

 

ProductRepayment TypeAmountLVRCampaign Interest Rate
Back to Basics - investment Principal and interest, interest only $150,000 + ≤90% LVR (including Lenders Mortgage Insurance) 4.23% p.a. 
Home Package Plus – standard variable – owner occupied Principal and interest, interest only $150,000 + ≤90% LVR (including Lenders Mortgage Insurance) 4.15% p.a. 
Home Package Plus – standard variable - investment  Principal and interest, interest only $150,000 + ≤90% LVR (including Lenders Mortgage Insurance) 4.42% p.a. 

 

ENDS

 

Media Contact: Ashleigh Paterson 07 3135 2562 or 0407 925 665

About Suncorp: Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 14,500 employees and relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with $94 billion in assets. Suncorp Bank is Australia’s leading regional bank servicing more than one million personal, SME and agribusiness customers.