Suncorp slashes interest rates on package home loans by up to 1.55%

Suncorp Bank has discounted interest rates on its Home Package Plus products by up to 1.55%, as it moves toward a competitive new range of offers for Aussie homeowners, The Advisor reported.

Suncorp Bank Home Package Plus products are available to both owner-occupiers and investors on loans of at least $150,000. A 1.55% discounted rate is being offered on standard variable loans, while three-year fixed loan interest rates will decrease by 0.35%.

The discounts will bring the rate of Home Package Plus Special offers on standard variable loans to 4.15% (4.53% comparison rate*) for owner occupiers and 4.42% (4.79% comparison*) for investors. Fixed three-year rates will drop to 4.09% (4.51% comparison*) for owner occupiers and 4.34% (4.77% comparison*) for investors.

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Steve Degetto, Suncorp Bank’s head of intermediaries told The Advisor the home loan package “provides customers with flexibility and a wide range of benefits by combining their home loan with other banking products.”

“The new discounted rates only strengthen the value of this award-winning product, and provide brokers with a competitive proposition to deliver to their customers.”

The good news doesn’t stop there, however, as Suncorp is also waiving the $375 annual fee for new customers taking out a Home Package Plus loan.

Degetto said Suncorp will be entering 2016 with a new outlook. “We have listened to broker feedback and made progressive changes to improve our processes and simplify some policies.”

Looking for a competitive rate on your home loan? Check out the best home loan deals in Mozo’s comparison table below:

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The
comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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