Why choose a Suncorp Bank Term Deposit?
Easy to open and manage online or in-App
Open your Term Deposit, fund it from any eligible bank account, and track and manage it from Internet Banking and the Suncorp Bank App.
No set up or establishment fees
Plus no ongoing account-keeping or transaction fees.
Low risk investment
A Term Deposit is a low risk investment because the rate at which you earn interest on a Term Deposit is fixed for the length of the term that you've chosen. Unlike other investment options which may be impacted by market fluctuations, you'll always know exactly how much you'll earn. Plus, your deposit funds are guaranteed by the Australian Government, subject to the limits as outlined in the Financial Claims Scheme#.
Your Term Deposit is guaranteed by the Australian Government.#
It only takes about 5 minutes
It only takes about 5 minutes
Select one of our featured rates
Flexible options let you customise your investment
- You can invest between $5,000 - $1,999,999 (for investments over $2,000,000, please call us on 13 11 75 or visit a branch for a negotiated rate).
- Choose a term that suits you, with options from as little as one month up to five years.
- Decide how your interest will be paid with options of monthly, quarterly, six monthly, yearly or at maturity depending on the length of your deposit.^
- Decide what happens when your term deposit matures.
You can:
- Automatically reinvest the original amount and interest for another term between 1 and 18 months (please be aware that interest rates may be different at time of reinvestment).
- Increase or decrease the original amount for another term.
Or simply have the original amount plus interest earned paid into your nominated bank account.
- Invest in a Term Deposit as part of a Self Managed Super Fund.
Managing your Term Deposit is easy in the Suncorp Bank App
Fund your Term Deposit
Open a Term Deposit online or via the App and fund it from your eligible Suncorp Bank account or a bank account with another financial institution that allows direct debits.
Track your progress
Easily view and track your Term Deposit alongside your other accounts in the Suncorp Bank App.
Manage maturity instructions
You can easily update your maturity instructions at any time prior to maturity in the Suncorp Bank App.
Is a Term Deposit right for you?
Before you consider investing in a Term Deposit, you should consider whether there is a chance you may require immediate access to your funds in the future. Once you have invested in a Term Deposit, your funds are locked away for the Term you have chosen. Should you need to withdraw the funds from the Term Deposit before the end of the agreed term (break your Term Deposit) you must notify the Bank and you will not be able to access your funds until 31 days have passed from the first business day since you notified the Bank unless you are suffering financial hardship.
For information about accessing your term deposit funds early, view ‘Breaking Your Term’ within the Product Information Document.
If you give consent for your Term Deposit to be automatically reinvested by the Bank at the end of the term, please be aware that your investment will be reinvested at the then current interest rate applicable for the same Term, meaning the interest rate applied to your new investment could be lower than our current interest rates.
Term Deposit interest rates
Term Deposit fees
Feel confident knowing your return on investment is locked in
A Term Deposit allows you to lock away an amount of money at a fixed interest rate for a nominated time period.
Your return on investment is locked in – this means you’ll know exactly what your investment is worth at the end of the term. An interest adjustment will apply for early withdrawals.
Get started today
Frequently asked questions
How do I open a Term Deposit?
Individual applicants can open a Term Deposit online or via the Suncorp Bank App.
Joint applicants and under 18s can open a Term Deposit by calling us on 13 11 75 or visiting your nearest branch.
What happens at the end of a term deposit?
About 3 weeks before your Term Deposit maturity date, we’ll notify you that your Term Deposit is about to finish. We’ll provide you with information regarding your options and then ask you to provide us with your instructions on what you would like us to do with your funds.
The date when the investment term of your fixed term deposit ends. For more information, please visit the terms and conditions for Suncorp Bank accounts.
Yes. Negotiated rates are available for amounts $2,000,000 and over. Please contact us for additional information.
If we agree to end your term deposit prior to the maturity date:
- You won’t have access to the funds until after 31 days from the first business day since you notified the Bank to withdraw your funds (unless grounds of hardship exist).
- You’ll lose a portion of the interest earned on your investment, calculated up to the date your Term Deposit is broken. The amount of interest you will lose will depend on how early in the investment term you seek to withdraw your funds.
For information on the portion of interest adjustment, please read our Product Information Document.
Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.
Minimum deposits and withdrawals may apply. Please read the Product Information Document before making any decision regarding this product. For a paper copy visit your local branch or contact us on 13 11 75.
# The Financial Claims Scheme (FCS) under the Banking Act 1959 applies to the deposit accounts you have with us. You may be entitled to a payment under the Financial Claims Scheme in some circumstances. Payments under the Financial Claims Scheme are subject to a limit for each customer. Information about the Financial Claim Scheme can be obtained from the Financial Claim Scheme website at www.fcs.gov.au.
Low risk investment
A Term Deposit is a low risk investment because the rate at which you earn interest on a Term Deposit is fixed for the length of the term that you've chosen. Unlike other investment options which may be impacted by market fluctuations, you'll always know exactly how much you'll earn. Plus, your deposit funds are guaranteed by the Australian Government, subject to the limits as outlined in the Financial Claims Scheme#.
Choose how the interest is paid
Interest payment options depend on your Term Deposit term
