RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%

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Example Interest Rates: Home Loan Variable: 5.38% (6.14%*) • Home Loan Fixed: 5.44% (6.26%*) • Fixed: 5.44% (6.26%*) • Variable: 5.38% (6.14%*) • Investment IO: 5.69% (6.52%*) • Investment PI: 5.49% (5.98%*)

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3.31 – Suncorp’s Head of Lending testifies at the Banking Royal Commission

Views 90 Likes 0 Dislikes 0 Published December 30, 2020, 12:38 am

Steven Kluss, executive general manager of lending at Suncorp Bank, is being questioned over Suncorp not reviewing its small business loan contracts to see if they were complying with new laws extending unfair contract terms provisions applying to consumers under Australian Consumer Law to cover “standard form” small business contracts, covering small business loans of up to $1m – despite it being two-and-a-half years since the laws were introduced.

Recorded on 31 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

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Martin is the Managing Director of BeliefMedia Pty Limited, and Australia's leading Finance Marketing Specialist. He is supported by a team of Australia's finest. Read more about Marty here.

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The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. [ Example Credit Guide Link ]

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Video Archive

3.31 – Suncorp’s Head of Lending testifies at the Banking Royal Commission

Like this article?

Martin Khoury

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