Suncorp Bank is reducing the interest rate on its two year fixed rate home loan from Wednesday.

On its Home Package Plus loan, two year fixed interest rates with LVR of 90% or less (including LMI) will be dropped 0.05% to 4.80% per annum, while the standalone rate will drop to 4.95% per annum.

Its two year rate with LVR of more than 90% will be 5.10% per annum, also down 0.05%. The standalone rate will be 5.10% per annum.

The comparison rate is 5.72% per annum and 5.78% per annum respectively.

Suncorp made cuts to the same loan package at the start of February on fixed rate lending of 80% LVR and below.

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