Suncorp unveils new rate below 4%

Suncorp Bank has announced a new “market-leading” interest rate for one of its home loan products.

Effective today, the three-year fixed rate for the bank’s Home Package Plus product has been reduced by 35 basis points to 3.99 per cent for new owner occupier or investment loans of at least $150,000 and with a maximum LVR of 90 per cent.

Suncorp’s head of intermediaries, Steven Degetto, said the new rate gives home owners and investors the option to lock in one of the most competitive rates that has been available in the market for decades.

“We understand the competitive environment in which our brokers operate, and we wanted to give our broker partners access to a proposition that supports both their investor and owner occupier customers,” he said.

“It is also a great option for consumers who want a split loan.”

Suncorp’s Home Package Plus standard variable owner occupier and investor rates have been discounted by 155 basis points to 4.15 per cent and 4.42 per cent respectively for loans of at least $150,000 and with a maximum LVR of 90 per cent.

The regional bank’s Back to Basics investment rate has been reduced by 116 basis points to 4.23 per cent for loans of at least $150,000 and with a maximum LVR of 90 per cent.

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