More banks are working on plans to launch loan products for superannuation funds, despite continuing uncertainty about the government attitude to a loosening of the rules governing borrowing by fund trustees. Macquarie Bank and Westpac have been in the market since early this year, along with a number of specialist lenders such as Calliva and Seiza. ANZ is close to sign-off on a new loan and St George will have a margin lending product aimed at self-managed super funds by the end of this year. Macquarie Group has added an equity gearing product alongside its Macquarie Property Lever. Equity Lever is a 10-year instalment over Australian shares.Loans are not the only banking products finding their way into the superannuation market. Banks are developing high-yielding deposit accounts that sit inside super funds and have transaction banking features.When banks started buying wealth management businesses almost a decade ago they were making a defensive move. They saw savings flowing from their accounts to superannuation accounts and they figured that if super was taking over as the preferred savings and investment vehicle they had better have a stake in it.But a couple of important changes to superannuation rules have opened the door for them to offer traditional banking products, loans and at-call accounts, to super fund members. Super is opening up as a big new market for bankers.Last September Parliament passed an amendment to the Superannuation Industry Supervision Act that established the right of funds to borrow to invest in any asset that they would otherwise be allowed to buy outright. Before the change to the law, super fund trustees were able to borrow in a limited way through structured vehicles that were internally geared, such as instalment warrants and other equity derivatives, and geared managed funds.The beneficiaries of this change will be the trustees of the country's 370,000 self-managed super funds who can now gear into property and, of course, the banks and other financial institutions that will lend them the money.The other big change that has opened the door for banks is the transition to retirement rule. Since July 2006, people turning 55 have been able to start receiving a pension on all or part of their super benefits. This pension can be used as an income supplement and the recipient can continue working and contributing to super.This change has made super much more flexible and has created opportunities for banks to put savings and transaction accounts into super funds. ANZ and Westpac have already designed cash options for super accounts that have transaction functions. There are sure to be more.Lenders are taking a cautious approach to the SMSF loan market, not sure of the level of demand and also not sure that the honey pot is really theirs to dip their paws into.Since September the Australian Taxation Office has cautioned trustees of self-managed superannuation to be careful about the types of loan arrangements they get into. In a taxpayer alert issued in April the ATO said trustees had to ensure that