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.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker