Suncorp Bank interest rate announcement

3 min read

Following the Reserve Bank of Australia’s decision yesterday to increase the official cash rate, Suncorp Bank today announced it will adjust the interest rate for variable home loan and deposit customers.

From 17 June, Suncorp Bank’s variable rate term home loans will increase by 0.50% per annum.

To support savings customers, from 15 June, Suncorp Bank will also introduce a new term deposit rate of 2.30% per annum for 12 months, and increase our savings account (Growth Saver) by 0.70%.

Suncorp Bank CEO Clive van Horen said we are committed to supporting the financial wellbeing of our customers during these uncertain economic times.

“As always, we look to balance the impact of rate changes on borrowers and savers. We understand these changes will impact some customers and encourage anyone who may be experiencing difficulty making repayments to contact us and discuss their situation," Mr van Horen said.

Other interest rates are currently under review.

Published 08 June 2022