Suncorp has announced it will reduce its variable interest rates for owner occupiers and investors by 0.19% per annum, following the RBA’s decision to lower the cash rate.
Suncorp CEO Banking and Wealth, David Carter, said this wasn’t a decision taken lightly but we believe it is the right one for our mortgage and deposit customers.
“Interest rates are at the lowest they have been in decades, which can deliver positive benefits for existing mortgage holders and people wanting to get into the property market,” Mr Carter.
“Our fixed and variable lending rates continue to be some of the most competitive in the market, and many of our home loan customers are also receiving the cost benefits of a historical campaign price or package.
“But we can’t overlook the challenges of a low rate environment on our deposit customers, which is why we continue to support our deposit customers through a range of highly competitive savings products. Our Term Deposits remain some of the best priced in market.
“We encourage our customers to contact us if they have any questions about today’s announcement and what it means for them, so we can ensure they’re receiving the most appropriate support for their circumstances.”
The new rates will come into effect on 19 July 2019.