Interest rate update: October 2022 

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.

• 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.

• Customers can utilise the savings in their Everyday Options Account and sub-accounts, by activating ‘offset mode’ to reduce their mortgage interest costs.

More information is available on our website or by visiting a Suncorp Bank branch.