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ING and Suncorp offering low five-year interest rates

ING and Suncorp offering low five-year interest rates

Several lenders are pricing their five-year fixed-rate home loans under 4 per cent, according to a new analysis of the mortgage market.

ING is charging 3.98 per cent (comparison rate 4.49 per cent) for owner-occupiers who take out a five-year Orange Advantage Home Loan (see table below).

Suncorp Bank‘s Home Package Plus First Home Buyer Special Offer has a five-year advertised rate of 3.99 per cent (comparison rate 4.00 per cent).

The Greater Bank Ultimate Home Loan has an advertised rate of 3.99 per cent (comparison rate 4.53 per cent) for borrowers who fix their mortgage for five years.

Newcastle Permanent Building Society also has a five-year fixed rate of 3.99 per cent (comparison rate 4.63 per cent) for its Premium Plus Package.

Meanwhile, FreedomLend, UBank, RACQ Bank, NAB, Westpac and Qudos Bank have five-year mortgages with interest rates just above 4 per cent.

LenderProductInterest rateComparison rate
INGOrange Advantage Home Loan3.98%4.49%
Suncorp BankHome Package Plus First Home Buyer Special Offer3.99%4.00%
Greater BankUltimate Home Loan3.99%4.53%
Newcastle PermanentPremium Plus Package3.99%4.63%
FreedomLendFreedom Fixed4.08%4.00%
UBankUHomeLoan4.09%4.10%
RACQ BankChoices Package Home Loan4.09%4.76%
NABChoice Package4.09%4.80%
WestpacPremier Advantage Package4.09%4.87%
Qudos BankFixed Rate Home Loan4.19%4.22%

All interest rates are for owner-occupied properties with principal-and-interest repayments and maximum LVRs of 80 per cent. Please note that the cheapest home loan may not be the best home loan for your situation.

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This article was reviewed by Head of Content Leigh Stark before it was published as part of RateCity's Fact Check process.

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