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

Kelly Emmerton

Friday 15 January 2016

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

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.”

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