Suncorp Bank responds to RBA interest rise

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.