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Lender announces Black Friday rate cuts

by Staff reporter9 minute read
The Adviser

Suncorp Bank has announced it will cut interest rates across its suite of fixed rate products.

Among the offers is a one-, two-, or three-year fixed rate of 4.39 per cent for its Home Package Plus product for new loans with an LVR of less than 90 per cent.

Suncorp’s head of intermediaries, Steven Degetto, said the bank’s diversified funding profile put Suncorp in a strong position to support customers with strong rates.

“As Australia’s leading regional bank, we are committed to being the genuine alternative and helping our customers achieve their financial goals,” he said.


“Interests rates are at a generational low, making it a good time for those to enter the property market for the first time or upgrading their current home.”

Mr Degetto said the bank reduced its fixed interest rates to provide customers with the flexibility to access competitive rates for their preferred term.

“Last year, our Home Package Plus product was one of the country’s most awarded home loan packages,” he said.

“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 other benefits too, like our unique subsidiary account structure on our offset account.”

Since the Reserve Bank announced its cash rate cut on February 3, at least 16 third-party banks have announced rate reductions.

[Related: Rate-cutting frenzy continues]