Superbank launches home loan product

Superbank has launched a full range of home loan products and will step up promotion of its SuperAccess EFTPOS and cheque account in addition to its first product, Super Saver.

While it is offering a special launch rate of 7.29 per cent fixed for 21 months, unlike other lenders trying to challenge the supremacy of the major banks, Superbank isn't generally trying to beat the mainstream home lenders on price. But a significant feature of its offer is that it will reward existing customers, chopping 10 basis points off their interest rate for every year the customer stays up to a maximum 60 points.

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