Powered by MOMENTUM MEDIA
subscribe to our newsletter
Suncorp Bank announces rate changes

Suncorp Bank announces rate changes

Suncorp Bank has today announced it will increase its variable interest rates for owner-occupier and investor loans.

The non-major bank announced that its owner occupier and investor variable interest rates will increase by 16 basis points for new and existing loans, effective 20 November 2015.

As a result, Suncorp’s Standard Variable Owner Occupier rate will increase to 5.70 per cent, while its Investment Standard Variable Rate will increase to 5.97 per cent.

Suncorp Bank’s head of intermediaries, Steven Degetto, said the changes reflect the bank’s commitment to balancing the impact of interest rate increases on customers with its competitive positon in the market.

“Today’s interest rate change wasn’t a decision taken lightly. We balanced a range of considerations including the impact on the cost of living on customers, as well as an increase in the bank’s wholesale funding costs and competitive positioning,” he said.

Suncorp Bank announces rate changes
mortgagebusiness

Latest News

The chief lending officer of a credit provider has sought to refute the “myths” associated with non-bank lending amid concerns raised by...

A US-based fintech has announced its partnership with Mastercard ahead of its launch in Australia in 2019. ...

A loans and deposits marketplace has announced that it has secured capital investment from Lakeba Group. ...

FROM THE WEB
podcast

LATEST PODCAST: Changing faces and bank growth slowdown

Is enough being done to ensure responsible lending?