flexiRates have changed
New flexiRates are no longer able to be set up. Current flexiRates won’t automatically renew even if they had been set to do so, because new flexiRates are no longer able to be set up.
Current flexiRates will remain in place. You can still manage them and check your current interest rate in Internet Banking or the Suncorp Bank App.
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Compare our other savings options, for personal banking customers or business banking customers that can help meet your savings goals.
Viewing and managing your existing flexiRates
You can continue to view and manage your existing flexiRates and check your current interest rate in Internet Banking or the Suncorp Bank App.
Keep in mind your current flexiRate won’t renew even if you have previously requested auto renewal as new flexiRates are no longer able to be opened. Any funds, including interest earned, will be released into your linked account instead.
In the App
- Tap into the account where the flexiRate is held
- Tap “Total in flexiRates”
- Choose the flexiRate that you would like to view
- To end your flexiRate before the period ends, tap “END FLEXIRATE EARLY”
- Follow the prompts to release your flexiRate early.
In Internet Banking
- Select “Manage My flexiRates” from the main menu on the left-hand side
- Choose the flexiRate that you would like to view
- To end your flexiRate before the period ends, click “Next” under “Early Release Request”
- Follow the prompts to release your flexiRate early.
Frequently asked questions
Interest is calculated daily and paid at the end of the flexiRate period. flexiRate, interest is fixed and guaranteed, provided the nominated period is completed.
You can ask to end your flexiRate early and get your money back before the end date. If you do, the whole flexiRate amount needs to be released. Ending your flexiRate early means you'll earn less interest, because the rate was set for the full term. The earlier you end it, the more interest you may lose. Keep in mind, early release is not automatic. The bank will do its best to approve your request, but it may not be possible in every case.
If you end your flexiRate early, you’ll lose some of the interest you’ve earned so far. This is called an interest adjustment. How much interest you lose depends on how much of the flexiRate term you’ve completed. The earlier you end it, the larger the adjustment will be. The adjustment only affects the interest you receive. It won’t reduce your original flexiRate balance.
Things you should know
Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ) acquired Norfina Limited (ABN 66 010 831 722) (Suncorp Bank) on 31 July 2024. As Suncorp Bank is now part of the ANZ Group, it may be necessary to vary the terms of your Suncorp Bank product to match the terms of a similar ANZ product. This means you may end up with a product that has different terms and features to those you initially applied for. In any event, Suncorp Bank will provide you with a more detailed notice of these changes if the variation applies to your products. A full list of these changes for each product can be found at suncorpbank.com.au/variation. Please contact us if you have any questions or if there is a feature that is important to you.
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.
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Advertised rates not available for alternative Interest Payment frequencies. Minimum investment $5,000. Negotiated Rates available for amounts over $2,000,000. * Eligible accounts include Business Saver Account and Business Premium account.
