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Suncorp Bank reduces variable rate to 4.69pc

by Staff Reporter10 minute read
The Adviser

Suncorp Bank has announced today that it has temporarily reduced its Home Package Plus discounted rate to 4.69 per cent.

A discount of 1.30 per cent has been applied to the bank’s standard variable rate of 5.99 per cent.

Suncorp is also offering a waiver of the annual $375 Home Package Plus fee.

These offers are only available to loans of at least $150,000 up to a maximum LVR of 80 per cent.


The offers are valid to December 12, with loan pre-approvals issued before October 1 being excluded.

Previously, the discounted rates for loans with a maximum LVR of 80 per cent was 4.94 per cent for loans between $150,000 and $499,000, 4.84 per cent for loans between $500,000 and $749,000, and 4.79 per cent for loans of $750,000 and above, according to Suncorp.

Suncorp’s head of intermediaries, Steven Degetto, said the current rates on the Home Package Plus product are fantastic.

“Other features of this package include a 100 per cent transactional offset account with up to nine sub-accounts, and it recently won the 2014 AFR Smart Investor Blue Ribbon Award,” he said.

Mr Degetto also said that Suncorp wanted to build strong relationships with brokers.

“We recently appointed 11 new people to provide additional support to our broker partners at a state level, further harnessing the strength of our national relationship team,” he said.

“We introduced our service guarantee 12 months ago, promising 48 hours until initial assessment or $500 paid to the customer.

“In this time we have paid out on this guarantee only a handful of times, reinforcing our responsiveness to our customers.

“Additionally, we have expanded our capabilities around upfront valuations, reinforcing our focus on helping brokers get a decision back to their customers faster.”

[Related: Brokers critical to our success, says Suncorp]