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SMSFs excluded from new loan offers by non-major bank

Miranda Brownlee
15 January 2016 — 1 minute read

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.

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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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Miranda Brownlee

Miranda Brownlee

 

Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.

Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years. 

Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.

You can email Miranda on: This email address is being protected from spambots. You need JavaScript enabled to view it.

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