© Copyright Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”). Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page. Please read the relevant Product Information Document, Lending Fees and Charges and the Home Package Plus terms and conditions before making a decision regarding any Suncorp Bank products. The Interest Only period on a Fixed Rate must equal the Fixed Rate term.įor a full list of rates with discount margins displayed, please view our Home Lending Interest Rate Guide.īanking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Current standard fixed rates and discounts are subject to change without notice.Īt expiry of the fixed rate period, the rate will revert to the applicable Standard Variable Interest Rate less any applicable margin discount specified in your credit contract. ^ Fixed Rate applicable on the day of settlement of the loan will be used to calculate the applicable discounted fixed rate unless the rate has been secured by paying a Guaranteed Rate Fee, which must be selected at time of loan application. Loan to Value Ratio (“LVR”) limits are inclusive of Lenders Mortgage Insurance (LMI) where applicable. You will pay more in interest than if you made principal and interest repayments. Since repayments to reduce the principal are not being made during the interest-only period, the full loan amount will still be due at the end of the interest-only period. As the name suggests, interest-only repayments means you'll repay the interest charges but you are not required to repay the principal during the interest-only period. Before choosing an interest-only repayment option, it's important you understand the potential risks associated with this product feature. Interest only repayments subject to credit approval.
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