Suncorp term deposit rates

Suncorp term deposit rates is as high as 4.10% p.a. on 5 year terms, plus gives savers the option to have interest paid out monthly, quarterly, six monthly, yearly or at maturity.

A low risk investment with competitive interest rates, the Suncorp Term Deposit is well worth a look if you’re after somewhere to stash your savings. It offers rates as high as 4.10% p.a. on 5 year terms, plus gives savers the option to have interest paid out monthly, quarterly, six monthly, yearly or at maturity.

Key features

If you’re looking for a safe place to invest your money, the Suncorp Term Deposit could be a worthwhile option. So long as you are at least 18 years old, you’ll be able to lock away your savings for as little as 1 month or as long as 5 years.

You’ll also have a say in how often you receive your interest. Depending on the length of your investment, interest payments can be made monthly, quarterly, half yearly, yearly or at maturity. Details are provided below:

  • Monthly: available for terms between 2 months to 5 years
  • Quarterly: available for terms between 6 months to 5 years
  • Half yearly: available for terms between 12 months to 5 years
  • Annually: available for terms between 13 months to 5 years
  • Maturity: available for terms of 12 months or less

Once your term deposit matures, you’ll have the choice of either reinvesting your balance and the interest earned for another term, reinvesting a different amount, or withdrawing it entirely. If you choose the latter, payment will be made to a nominated Suncorp transaction or savings account. You will not have the option to auto-renew at maturity on terms 24 months and over.

For a full run through of all the interest rates available, check out the tables further down the page.

Who is it good for

The Suncorp Term Deposit might be appreciated by anyone after a term deposit with more flexibility when it comes to investment options and frequency of interest payments.

Any catches

If you decide to withdraw your term deposit prior to the maturity date, you’ll have to wait 31 days from the date Suncorp agrees to your request before you’ll receive your funds. There will also be an adjustment to the interest your investment has earned, depending on how early you decide to withdraw it.

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