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SMSFs excluded from new loan offers by non-major bank

SMSFs excluded from new loan offers by non-major bank

Miranda Brownlee
15 January 2016

Another non-major bank has announced a range of discounts to standard variable and three-year fixed home loans, but left interest rates for SMSF loans unchanged.

Suncorp Bank announced earlier this week it had discounted its interest rates across its Home Package Plus products by up to 1.55 per cent.

A Suncorp spokesperson confirmed there were, however, no such changes with SMSF lending.

The bank also announced it was waiving the Home Package Plus annual package fee for the first year, normally $375, for new customers taking out lending of at least $150,000.

There were no changes to the fees for SMSF loans, however, with SMSF trustees still having to pay the $800 SMSF fee, and the establishment fee.

Suncorp Bank's head of intermediaries, Steve Degetto, said the new offers for Home Package Plus Products will “give customers the flexibility to select a competitive rate that suits their individual circumstances”.

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SMSFs excluded from new loan offers by non-major bank
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