Suncorp eOptions flexiRates

Suncorp eOptions flexiRates

Min. Opening Deposit


Account Keeping Fee


Add flexiRates to your Suncorp savings account and you can control how quickly your account grows.

  • Unique product to Suncorp
  • Lock away any amount for a term of your choosing
  • No account keeping fees
  • Terms between a month to a year available

Product details

FlexiRates is unique to Suncorp Bank. It works similar to a term deposit add-on for your bank account, letting you move portions of your balance into it for fixed periods where it earns interest at higher rates. Unlike most term deposits, however, it's almost entirely self-service and you can have up to 15 flexiRate deposits at a time without needing to open more accounts. You can choose different terms for each and set up your own renewal instructions for all of them, giving you more control over your savings.

Because it's online only, you can get higher rates with this feature than you can find elsewhere. Simply set it up for free online, and start a term when you want to earn higher interest.


FlexiRates has fixed rates as well as a level of flexibility you might not find with traditional term deposits.

Product Name
Suncorp eOptions flexiRates
3 month interest rate
6 month interest rate
12 month interest rate
Min Deposit
Minimum Age Requirement

What are the features of Suncorp eOptions flexiRates account?

Available with the following accounts

You can add flexiRates to any of the following SunCorp accounts: Everyday Options sub-account, the eOptions account, a 55 Plus account or the SunCorp Business Saver.

No fees

You will not be charged any additional fees for using this feature, no matter how many flexiRates terms you're using.

Your choice of terms

You can lock away funds for set terms, and can pick ones to suits your savings plan.

Fixed but flexible interest rates

Rates are higher with longer terms, and are always fixed so they won't change over the course of each term, helping you save more consistently. However, rates are based on current Australian Money Market rates so when they're favourable you can start a flexiRate to take advantage.

Up to 15 flexiRate deposits at once

You can divide your savings up into as many as 15 separate flexiRates, and can choose different term lengths for each.

Interest calculated daily

Interest is calculated daily on each flexiRate deposit and is paid into your account at the end of the term. Alternatively, you can choose to automatically reinvest at the end of the term to keep earning higher interest.

Online account management

To keep costs down, and pass the savings onto you in the form of higher rates, you are only able to use flexiRates online, either via Suncorp internet banking or by downloading the SunCorp mobile banking app.

No minimum, high maximum

There are no minimum deposit requirement, but there is a $1 million maximum per flexiRate, for a total of $15 million across all of them. You will earn interest on any balance in each flexiRates.

Detailed account statements

All your flexiRates will show up on your account statement, including the balance of each, the start and end dates, and the interest rates for all of them.

Setting up a flexiRate

This is a self managed feature. If you have an eligible account you can simply set up a flexiRate online with through SunCorp mobile banking or with the app.

Launch term deposit calculator


  • Lock portions of money away with flexiRates to earn at higher rate
  • $0 Account keeping fees
  • Three different term options to choose from
  • Rates will stay fixed after locking in a flexiRate term


  • $1,000,000 limit per flexiRate
  • Need to have a compatible savings account first

How do I apply for the Suncorp eOptions flexiRates account?

FlexiRates is a feature that comes with some SunCorp bank accounts. You will need either an Everyday Options sub-account, the eOptions account, a 55 Plus account or the SunCorp Business Saver. No application is required, and all you have to do is login to your internet banking and you can start managing your flexiRate deposits. There are some eligibility requirements that you will have to meet, which can change slightly depending on the type of savings account you choose, but some things that will be required include:

  • Minimum age. With all but the 55 Plus Account, you will need to be at least 18 years of age.
  • Residency requirements. Suncorp Bank requires applicants to be permanent Australian residents with an Australian residential address.
  • Depository requirements. With Suncorp savings accounts there is no minimum deposit requirement.

If you have compared the various accounts available with flexiRates and would like to continue and apply online for one, have the following documentation available to ensure the information is correct:

  • Tax file number. Suncorp Bank will ask for your tax file number (TFN) or exemption code so that they may apply the correct tax withholding rate to your interest earnings.
  • Identification. In order to verify your identity you will need to be able to provide a driver’s licence, passport or Medicare card.
  • Business applicants. If you are applying for the Business Saver Account you will also need to give your Australian Business Number (ABN) or Australian Company Number (ACN).

Once your new savings account with Suncorp Bank has been opened, you will be able to take advantage of flexiRates as soon as you have made a deposit. Just log into your account using internet banking and follow the prompts for the flexiRates.

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2 Responses

  1. Default Gravatar
    GlennisJune 19, 2018

    Is a Term Deposit the safest way to earn interest.

    • Default Gravatar
      ArnoldJune 19, 2018

      Hi Glennis,

      Thanks for your inquiry

      Yes, Term deposits are one of the safest investments around. Unlike other investments, for example, shares or property, there is basically no risk of losing the money you deposit. There are no establishment or ongoing service fees attached to term deposits (unless you withdraw your funds early), so you don’t have to worry about hidden fees and charges eating away at your savings balance.

      If you’re looking for a stable and secure investment opportunity, term deposits could be a perfect choice.

      For more information about Term Deposits, please click on this link.

      Hope this information helps


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