Business Daily Media

Suncorp Bank responds to RBA interest rise

  • Written by Business Daily Media

Suncorp Bank today announced new interest rates for home loan customers, following the Reserve Bank of  Australia’s cash rate decision on Tuesday, 4 October 2022. 

From 14 October, Suncorp Bank will increase home loan variable rates by 0.25% per annum (p.a.).  

This increase means, that for every $100,000 of loan balance remaining on a customer’s 25-year variable loan,  they can expect their monthly repayments to increase by around $14. 

Suncorp Bank’s savings and term deposit rates are continually under review. 

Where customers can find more information: 

  • Customers can calculate how much their home loan repayments will increase via the Home Loan Repayment Calculator | Suncorp Bank
  • More information is available on our website www.suncorp.com.au or by visiting a Suncorp Bank  branch. 
  • Customers can utilise the savings in their Everyday Options Account and sub-accounts, by activating  ‘offset mode’ to reduce their mortgage interest costs. 
Sign up to our Everyday Account which has no monthly fees or currency conversion charges, and the  option to have up to nine sub-accounts to help customers reach their spending and savings goals.

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