Suncorp Bank announces interest rate changes
Suncorp Bank has announced new interest rates for home loan and savings customers following the Reserve Bank of Australia’s decision on Tuesday, 2 May 2023.
From 12 May, Suncorp Bank will increase home loan variable rates by 0.25% per annum.
This increase means that for every $100,000 of loan balance remaining on a customer’s 25-year variable loan, they can expect their monthly repayments to increase by around $14.
For customers preferring repayment certainty over a fixed term, Suncorp Bank has a number of fixed rate options starting from 5.39% per annum for 3 years.
To support savers, Suncorp Bank is offering Term Deposit interest rates of 4.3% for 7-months and 4.25% for 12-months.