The Suncorp Break Free Loan for a variety of business finance needs
The Suncorp Break Free Loan is a unique financing product designed to help you to manage your interest rate exposures and minimise your interest rate risks. It provides the opportunity to enter into a 3 year fixed rate with the flexibility to alter the interest rate at the end of the 18th month of the Suncorp Break Free fixed interest period by choosing one of the following options:
- Re-fix the loan at a market rate
- Switch to a variable rate
- Switch to another Suncorp Break Free Loan
- Do nothing and continue with the existing rate
Break costs do not apply if any of these choices are exercised at that point in time!
The Suncorp Break Free Loan may suit customers who:
- Prefer the certainty of a fixed rate but also wish to benefit if interest rates fall
- Seek to minimise interest rate uncertainty
| Feature |
Description |
| Loan Amount |
Minimum Loan amount: $1,000,000
No maximum loan amount |
| Interest rate options |
The Suncorp Break Free fixed interest period is restricted to 3 years.
Your Suncorp Break Free Loan interest rate is calculated using a competitive 3 year fixed rate plus a customer margin.
This will provide you with the security of a known rate plus the flexibility to re-assess your options 18 months from the commencement of the 3 year Suncorp Break Free fixed interest period. |
| Repayment options |
Interest Only in Arrears |
| Interest charging options |
Interest charging every month |
| Loan Term |
Up to 15 years |
| Security |
Many forms of security accepted including residential, commercial or rural property, business assets, or a combination of these. |
| Progressive drawdown |
Not available |
| Redraw Option |
Not available |
Fees
| Item |
Description |
| Establishment Fee |
Fees vary, depending on the loan amount (minimum of $950) |
| Account Maintenance Fee |
$300 per half year |
| Other |
Other fees and charges and conditions apply. Please contact your Business Banking Manager for more information and detail about the Suncorp Break Free Loan. |
