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.