Maximise your business’s savings with a flexible account that allows for a higher rate of interest on portions you don’t need.
Suncorp Bank’s Business Saver Account provides you with a safe haven for your excess working capital. Pay no monthly fees, yet still earn on the cash from a competitive interest rate on the entire balance. You are also given the option of flexiRates, a unique feature that permits you to further set aside a portion of the balance to receive a fixed rate for a set period of time.
Up to 0.35% p.a.
Interest rate
12 months interest rate
$0
Minimum opening deposit
$0
Account keeping fee
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
Key features
$0 monthly fees
This account is free from any fees or charges applied monthly.
No transaction fees
You are allowed an unlimited number of transfers to and from the account at no charge, with the exception of any external transfers. Those will incur a fee of $2 per transaction.
0% interest on your balance
The variable interest rate is applied to your balance daily and paid into the account once a month. Note, the variable interest rate is subject to change in line with movements of the RBA Cash Rate.
Save more with flexiRates
This unique feature allows you to set aside a portion of your savings balance and lock it in a term for a higher fixed interest rate. Terms range from one month to one year, and you can have up to 15 separate flexiRates for one account. There are no extra fees or minimum balance requirement, but like a term deposit the interest rate will be adjusted if you choose to end the term early. You are able to set up your flexiRate through online banking by choosing the amount you wish to set aside and the length of time you wish the terms to be.
Options to access your account online and more
This account can be accessed using internet or phone banking. You can also make deposits at a branch using cash or a cheque.
Set up direct credits and debits
You can set up this account for electronic direct credits and debits.
Transfer cash with a linked account
You will need to nominate a separate business banking account with Suncorp Bank or another Australian financial institution to facilitate the transfer of your money. Compare more bank accounts from Suncorp.
If after comparing the various business savings accounts available, you have found this one meets your needs, you can begin filling out an online application. There will be some initial eligibility requirements that you will have to confirm before proceeding to the actual application:
Minimum age. Applicants must be at least 18 years of age to apply for this account.
Residency requirements. All applicants must be an Australian resident for tax purposes. In addition, the business needs to be registered to operate within Australia.
Depository requirements. There is no minimum deposit requirement set forth by Suncorp Bank.
Documentation needed
The following documentation will be needed in order to help you in verifying that you are eligible for the Business Saver Account:
Tax file number. Yours or the business tax file number (TFN) or TFN exemption code is not obligatory, but it does help to make sure that when tax is withheld on your interest earnings it is at the correct rate.
Identification. Your driver's licence, Medicare card or passport will be used to help verify your identity. If your business is a partnership, you will also need to provide that information for all those listed.
Business number. The Australian Business Number (ABN) or Australian Company Number (ACN) issued to your business will also be required.
Linked account. The account number and name of a separate business account that you will be using to transfer money in and out of your savings. This account must be in the same name as the one in which you are applying for.
What happens after I submit my application?
After you have submitted your application you may be contacted by Suncorp Bank for more information and documentation. Once they have all they need and verify the information you provided, you will be notified with the details of your new business savings account.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
