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Home News

SMSFs excluded from new loan offers by non-major bank

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.

by Miranda Brownlee
January 15, 2016
in News
Reading Time: 1 min read
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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.

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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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