Non-major lender Suncorp has unveiled a number of discounts on its investor and owner occupier loan products in response to being awarded Bank of the Year – Fixed Rate Home Loan by
CANSTAR.
Effective from today (12 September), the bank's Investment Home Package Plus two and three year fixed rates will drop by 0.20% p.a. and 0.30% p.a. respectively, bringing both rates to 4.29% p.a.
The follow additional special offer discounts for new standard variable lending will also come into effect today:
| Back to Basics |
LVR |
New Loan Amount |
Current new business interest rate |
Additional discount |
Special discounted rate |
| Owner-occupied |
≤90%
(inclusive LMI) |
≥$150,000 |
3.78% p.a. |
0.10% p.a. |
3.68% p.a. |
| 90% – ≤95% (inclusive LMI) |
4.03% p.a. |
0.10% p.a. |
3.93% p.a. |
| Back to Basics |
LVR |
New Loan Amount |
Current new business interest rate |
Additional discount |
Special discounted rate |
| Owner-occupied |
≤90%
(inclusive LMI) |
≥$150,000 |
3.89% p.a. |
0.10% p.a. |
3.79% p.a. |
Owner-occupied
First Home Buyers |
≤95% (inclusive LMI) |
≥$150,000 |
3.89% p.a. |
0.10% p.a. |
3.79% p.a. |
In addition to the fixed rate award, Suncorp also received a five star rating for two of its home loan products:
- Bank to Basics Owner Occupied Construction Loan
- Home Package Plus Owner Occupied Fixed Rate Loan
“The CANSTAR award and five star ratings are further confirmation that we are offering products that deliver value for our customers,” said Suncorp banking & wealth CEO David Carter.
“In June this year, we announced some changes to interest rates to give additional support to customers in the owner-occupied market, and from today I am pleased to say we will go further. This is a reflection of recent reductions to fixed rate funding costs, allowing us to lower our two most popular fixed rate loan products for investors.”
The rate changes and special offers come into effect in what is traditionally a busy season for home buyers, he added.
“Customers who take advantage of these offers will also have the convenience of being able to access more than 3,300 fee-free ATM’s, as part of Suncorp’s new partnership with the rediATM network.”
