Suncorp reduces home loan interest rates


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Suncorp has announced it will reduce all variable home loan interest rates following the Reserve Bank of Australia’s decision to lower the official cash rate.

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Suncorp reduces home loan interest rates

Suncorp has announced it will reduce all variable home loan interest rates by 0.15% per annum, following the Reserve Bank of Australia’s decision to lower the official cash rate.

Suncorp Bank’s Executive General Manager of Lending Glenn Haslam, said:

“Today’s decision aims to deliver a fair balance for our mortgage customers - who would like to make the most of this low interest environment and pay their homes off sooner - and our deposit customers – many of whom rely on income from their savings.

“We have a strong track record of offering the most competitive home loan and savings rates in the market and many of our customers continue to receive the benefits of our competitive products and offers.

“Suncorp is committed to maintaining this competitive position to help Australians own their homes and grow their businesses but we do so while managing the additional competitive challenges of being a non-major bank whereby our cost of capital is much greater than the major banks.”

Customers who have questions regarding today’s rate change are encouraged to visit us in store, online or call us.

The new rates will come into effect from Friday 18 October 2019.