Suncorp has slashed its standard variable home loan interest rate to 5.99%.

Its comparison rate has now dropped to 6.15%, based on $150,000 over 25 years.

Your Mortgage’s home loan calculator shows the 0.25% drop will save customers about $33 a month for a home loan of $150,000 on a loan term of 25 years, compared to the previous rate.

The rate cut also includes Suncorp’s small business variable rates.

Changes are effective from Monday 26 August.

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