Non-major bank Suncorp has announced new customers looking for investment and owner occupied loans will be offered interest rates below 4%.

The offering of a 3.99% interest rate comes on a three-year fixed loan from the lender’s Home Package Plus product and is available for owner occupied or investment loans of at least $150,000 with maximum loan to value ratio (LVR) of 90%.

Steven Degetto, head of intermediaries at Suncorp, said the bank’s decision allows purchasers to benefit from the historically low rate environment.

“Interest rates are now at the lowest they have been in more than 40 years, making it a good time for not only current borrowers to consider their home loan options, but also for those looking to enter the property market,” Degetto said.

The bank has also made changes to its Home Package Plus variable product and Back to Basics loan offerings as well.

The Home Package Plus owner-occupied standard variable rate has been changed to 4.15% for loans of $150,000 or more with a maximum LVR of 90%.

The investment standard variable rate for the Home Package Plus product has been changed to 4.42%.

The Back to Basics investment loan will now have an interest rate of 4.23% for loans of $150,000 or more with a maximum LVR of 90%.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan