Suncorp Term Deposit

Alison Banney Finder

January 10, 2023

Hi Dennis,

Self-Managed Super Fund (SMSF) pension recipients and SMSF trustees can open a Suncorp Term Deposit account however the interest rate may be lower (featured rates for deposits $100,000 – $999,999 with a 7-month term is 4.00% p.a.). 

The requirements aren’t stated on their page but you will most likely need to provide the following:

– SMSF’s ABN and full name

– ACN and the full name of the trustee (for SMSF with corporate trustee/s)

– SMSF’s nominated Suncorp Bank account details – Customers are required to also hold a separate Suncorp Bank transaction or savings account for the funds and/or interest to be paid into on maturity.

You can confirm their requirements by calling them at 13 11 55 (Mon-Fri, 8 am-6 pm AEST).

I hope this helps.

Thanks,

Alison

Nikki Angco

June 26, 2019

Hi Pat,

Thanks for getting in touch! It’s good to know that you’re looking to invest your money into a term deposit account.

It’s helpful to know that while we compare a multitude of banks (and others) on our pages, we cannot recommend one product for you. If you’d like to compare and find the best interest rates for a 6-month term deposit, you can use our comparison table to help you find the account that suits you. On the page, you’ll find:

• the list of banks you can choose from


• how 6-month term deposits work


• how to compare term deposits


• pros and cons of 6-month term deposits


• and some questions other users ask about the product that may answer some of your questions too!

When you are ready, press the ‘Go to site’ of your preferred account to apply. As a friendly reminder, review the eligibility criteria and read up on the terms and conditions of the account before applying. Feel free to reach out to the bank if you need any clarifications.

With care,

Nikki

Faye Manuel Finder

June 21, 2019

Hi Samantha,

Thanks for contacting Finder.

Nothing mentioned on their eligibility criteria and Product Disclosure Statements/Terms and Conditions that you need an Everyday Account to open a Suncorp term deposit account.

Below are the eligibility and documentation required to apply

Minimum age. Suncorp bank has savings products available for people as young as 18 years old.

Residency requirements. You must be a permanent Australian resident for tax purposes with a residential address in Australia.

Depository requirements. You must be able to deposit at least $5,000 in order to activate the term deposit.

Tax file number. With interest earning accounts, providing your tax file number (TFN) or exemption code enables the bank to withhold the correct amount of tax. Without this, they are obligated to apply tax on your earned interest at the highest marginal rate.

Identification. Standard forms of acceptable identifying documents include your driver’s licence, passport and Medicare card.

I hope this helps.

Please feel free to contact us at any time if any other questions arise

Cheers,

Faye

Arnold

June 19, 2018

Hi Glennis,

Thanks for your inquiry

Yes, the current rate for a 24-month term deposit is 2.6%. If you wish to start a term deposit with Suncorp, please visit their Website to set this up.

Hope this information helps

Cheers,

Arnold

May Finder

April 06, 2018

Hi Kelly,

Thanks for your inquiry.

With Suncorp Term Deposit, you would have at least $5,000 for a minimum deposit. Although depending on the account and bank, a term deposit account may require you to have a minimum deposit of at least $1,000 – $5,000. You might like to compare other term deposit accounts using our comparison table. Once you have chosen a particular account, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with your application or get in touch with their representatives for further assistance.

Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

Cheers,

May