Suncorp Bank Reduces Variable Interest Rates

8 May 2015

Suncorp Bank today announced it will reduce its small business variable interest rate by 0.25%p.a and its home loan interest rate by 0.20%p.a., effective 15 May 2015

Suncorp Bank’s standard variable rate on home loans will drop to 5.54%p.a.

Suncorp Bank Chief Executive Officer, John Nesbitt, said the Bank’s generational low mortgage rates supported home buyers while balancing the needs of deposit customers including retirees and others reliant on deposit income.

“Interest rates are now at the lowest they’ve been in more than 40 years. In this low rate environment it is important to make decisions that support both lending and deposit customers,” Mr Nesbitt said.

“Suncorp Bank continues to offer competitive rates to customers on our award-winning deposit and lending products.”

Suncorp Bank offers one of the most competitive home loan propositions in market with its multi award-winning Home Package Plus*.

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Media Inquiries: Michelle Barry 0402 892 789

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 15 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.


*2014 AFR Smart Investor Blue Ribbon Award for Best Premium Banking Package, 2015 CANSTAR Outstanding Value award for Packaged Home Loans (Property Investor), Money Magazine Best of the Best Awards 2015 for Best Line of Credit Loan Bank and Cheapest Home Loan Package Bank.