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Suncorp Bank Cuts Fixed Home Loan Rates

13 April 2015

Suncorp Bank has announced a cut to its three-year and five-year fixed home loan rates, giving consumers the option to lock in a competitive rate.

Suncorp Bank CEO, John Nesbitt, said the Bank’s latest rates were some of the best in the market and further bolstered its competitive home lending proposition.

“We have reduced our rates across three and five-year fixed standalone home loans, fixed package home loans and fixed interest in advance home loans. Our aim is to give customers options and flexibility when locking in a competitive rate for their preferred loan,” Mr Nesbitt said.

“Interest rates are now at the lowest they have been in more than 40 years, making it a good time for not only current borrowers to consider their home loan options, but also for those looking to enter the property market.

“As Australia’s leading regional bank, we are committed to supporting Australians to achieve their financial goals. Our diverse suite of home lending products ensures all our customers have access to a product that best meets their individual circumstances.”

Among the offers is a three-year fixed rate of 4.29% p.a. on the multi-award winning~ Home Package Plus product. The latest reduction will save homeowners $18.84 a month or $226.08 a year in repayments over the initial three-year fixed period^.

“Our Home Package Plus product continues to be one of the country’s most awarded home loan packages. To receive multiple industry endorsements really highlights our commitment to offering customers a flexible home loan package, which is not only great value but has a range of cost saving benefits too,” Mr Nesbitt said.

“We also continue to offer a waiver of the annual Home Package Plus for the life of the loan, saving new customers with lending of $150,000 or more, up to $11,250* (savings based on $375 p.a. over a 30 year loan term).”

The Suncorp Bank Home Package Plus product provides customers with flexibility and a wide range of benefits for customers by combining their home loan with other banking products available at a discount.

Effective 10 April 2015, the new three and five year fixed home loan rates are as follows:

Home Loans


3 year fixed 

4.44% p.a.

5 year fixed 

4.74% p.a.

3 year fixed (Home Package Plus)

4.29% p.a.

5 year fixed (Home Package Plus)

4.59% p.a

3 year fixed interest in advance

4.29% p.a.

5 year fixed interest in advance

4.59% p.a.

Media Inquiries: Ashleigh Paterson 07 3135 2562 or 0407 925 665

About Suncorp: Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 14,500 employees and relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with $94 billion in assets. Suncorp Bank is Australia’s leading regional bank servicing more than one million personal, SME and agribusiness customers.

~2014 AFR Smart Investor Blue Ribbon Award for Best Premium Banking Package, 2015 CANSTAR Outstanding Value award for Packaged Home Loans (Property Investor), Money Magazine Best of the Best Awards 2015 for Best Line of Credit Loan Bank and Cheapest Home Loan Package Bank.

*Annual package fee waiver applies to new loans of at least $150,000 within the Home Package Plus. Savings based on $375 p.a. over 30 year loan term. The annual package fee of $375 will be charged and refunded to the loan for as long as the loan remains part of the Home Package Plus. Waiver expires if the loan is closed or varied out of the product or package (where applicable). Offer valid from 27/02/2015 to 30/06/2015. Offer is subject to change without notice and may be withdrawn at any time before a credit contract is entered into. New loans only. Pre-approvals excluded.

^Calculation provided as an estimate on an average mortgage of $320,000 over a 30 year loan term.

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