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- Term Deposit
Term Deposit
- 1 month
- Automatic maturity rollover
- Joint application available
Interest rate
1.25%
Maximum rate
4.85%
for 12 months
Term Deposit
- 1 month
- Automatic maturity rollover
- Joint application available
Interest rate
1.25%
Maximum rate
4.85%
for 12 months
Pros and Cons
For Term Deposit
Benefits
- 12 month interest rate (for $50k deposit) ranked in the best 20%
- Automatic maturity rollover
Drawbacks
- Interest cannot be paid to other institution
- 31 days notice to withdraw funds before maturity and interest rate adjustment will apply to interest earned on funds
Suncorp Bank Rate Term Deposit overview
For Term Deposit
Features
Min deposit
$5,000
Automatic maturity rollover
Maturity alert by phone
Maturity alert by email
Joint application available
Minimum age requirement
18
Notice period to withdraw
31
Is covered by government guarantee
Target Market Determination
Visit Suncorp Group Limited to view Target Market Determination.
Interest
Interest calculation frequency
Daily
Interest payment frequency options
Annually, At Maturity
Interest payment via other institution
Interest payment method
Direct Credit, Rollover on maturity
Fees
Account keeping fee
$0
Early withdrawal fee
Rates
Other Restrictions
Terms 24 months and over will no longer have option to auto-renew at maturity.