Suncorp Bank has reduced its one-year fixed home loan rate by 16 basis points to 4.93% (comparison rate 5.59%).

Your Mortgage’s home loan calculator shows the reduction will save customers about $18 month for a loan of $200,000, on a loan term of 20 years, compared to the previous rate.

Suncorp has also reduced its two-year fixed home loan rate by 14 basis points to 4.90% (comparison rate 5.53%).

The three-year fixed home loan rate has remained on hold at 4.98% (comparison rate 5.51%).

The new rates are effective from Monday, 16 September.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now