55+ Account

An everyday account especially for over 55’s that helps make your money work hard while rewarding you for your position in life. 

  • Unlimited free Suncorp Bank transactions with no monthly account keeping fee and free Bank cheques
  • Lock any portion of your savings away for a set period of time to earn higher interest (called flexiRates) just like an online term deposit
  • Option to get a Visa Debit card1
55 plus
Call us on
13 11 75
Find a branch
Apply Now

 

Access Card or passbook access

Card access

We're making it easier for you with a growing number of ATMs & Branches to ensure your cash is always handy. Access your day-to-day money with,

  • Branches
  • ATMs
  • EFTPOS
  • Visa Debit card1
  • Telephone Banking
  • Internet Banking
  • Mobile Phone Banking
  • BPAY®

 

Passbook access

By choosing to use a passbook you won't be able to electronically access your day-to-day money.
Card options
  • Choose a Visa Debit card1 and access your own money in more places, like when you’re shopping online or travelling overseas.
flexiRates Got something coming up that you want to save for now? Lock any portion of your savings away for a period of time to earn higher interest (called “flexiRates”). What’s more, no minimum balance is required. To set up a flexiRate,
  1. Log into Internet Banking;
  2. Click on the “Manage my flexiRates” tab;
  3. Select which savings “sub” account the money you’d like to lock away is in;
  4. Nominate the amount (“flexiRate amount”) that you want to lock away;
  5. Choose how long you want to lock it away for;
  6. Provide instructions on whether you would like to,
    • Release your money back into your account at the end; or
    • Renew your flexiRate again.
Eligibility You're eligible for the 55+ account if,

  • You're 55 years old or over; or
  • Your partner is 55 years old or over and you're opening a joint account together.
Keeping track of your account
  • If you've chosen card access then we’ll send you a statement every 3 months (quarterly).
  • What’s more, you can view your account history through Internet and Mobile Phone Banking at any time or you can ask us to send you more regular statements.
  • If you've chosen passbook access you'll be able to keep a record of your account history in your passbook.

If you’re not sure about which everyday or savings account suits your needs go to our compare accounts page or visit the goals and lifestages pages.

Interest Rates

Interest is based on the Government deeming rates and is calculated daily and paid monthly.

It's calculated on a stepped basis which means you'll earn interest for the part of your account balance that falls within each range, at the rate applicable to that range.

The Australian Federal Government sets the interest rate ("deemed Interest rates") that pensioners are deemed to earn using a simple set of rules.  This is to ensure you're earning an adequate return on your money. 

Plus you’ve got the option to lock any portion of money in your 55+ account for a period of time to earn higher interest (called “flexiRates”).

flexiRates

Interest Type Annual Interest Rate
3 months 5.00% p.a.
6 months 5.20% p.a.
12 months# 5.05% p.a.
4 months special 5.30% p.a.

Alternatively, you can choose your own end date, just log onto Internet Banking for today's rates.

Interest Rates are Effective 4th May 2012.

Interest is calculated daily on the whole balance of the nominated flexiRate amount and paid at the end of the flexiRate period. flexiRate interest is fixed for the nominated flexiRate period. The maximum flexiRate period is 1 year. An interest adjustment will apply if we allow you to release your flexiRate early.

You can add up to 15 “flexiRates” on your 55+ account, just log into Internet Banking and apply via the “Manage my flexiRates” tab.

Fees at a glance

Monthly account keeping fee Nil

Suncorp Bank Transactions

  • Staff assisted
  • Personal cheque withdrawals
  • Internet Banking, Mobile Banking, Phone Banking
  • ATMs
  • EFTPOS
 Free
Free
Free
Free
Free
Using other bank's ATMs ATM Operator fee2
Direct Credits and Debits Free
Electronic transfers to other banks Free
Bank cheque purchase Free
Sweep fee $1.50
Dishonour fee $10.00
Payment honour fee $10.00

We want to teach you how to save on fees. Learn more about fees and how to avoid them.

 

What you’ll need to apply

Opening an account with us is easy when you know what you need. See what information and personal identification we use to open up your new account.

How to apply

  • Apply online today.
  • Visit your local Branch.
  • Are you an existing customer? Log into Internet Banking and apply via the “Open a new account” tab or call us on 13 11 75 and we can open an account for you over the phone.

Things you should know

1. To be eligible for a Suncorp Bank Visa Debit card you must be over 16 and a permanent resident of Australia. If not eligible you will receive a Suncorp Bank Transaction card.

2. Withdrawals and enquiries at other (“non Suncorp Bank”) ATMs will incur the ATM Operator fee by the Financial Institution who owns the ATM. This fee will be charged immediately at the time of the transaction to your account.

3. Rates are subject to change without notice.

Banking Products issued by Suncorp Metway Ltd (“Suncorp Bank”) ABN 66 010 831 722. Please read the Product Information Document before making any decisions regarding this product. Visit your nearest  branch or call 13 11 75 for more information. Terms and Conditions apply and are available on request. Fees and charges may apply.