Eligible accounts
flexiRates are available with: Everyday Options Account, Business Saver Account and Business Premium Account.
flexiRates: higher interest rates on Savings
flexiRates allow you to set aside a portion of your savings in eligible accounts for a nominated period, have it earn a little extra interest, and help you reach your savings goals quicker.
Why choose flexiRates?
Eligible Accounts
Everyday Options Main and Sub-Accounts
Bank online, in branch and by phone plus you can spend, save and budget better with sub-accounts and flexiRates.
Business Saver Account
An online savings account that works for your business.
How to set up your flexiRates
Step 1
You must hold a Suncorp Bank account that supports flexiRates (see ‘Eligible accounts’)
Step 2
In Internet Banking select ‘Manage My FlexiRates’ from the main menu or in the Suncorp Bank App select your account (it must be eligible for flexiRates) and ‘Add a flexiRate’ from the Account Details Screen
Step 3
Select the flexiRate option that best suits you
Don’t forget if you need to access your savings, you can request for the funds within the flexiRate to be released at any time with no additional fees. If the early release is approved, an interest adjustment will apply.
Interest Rates
How can I view and manage my flexiRates?
You can easily set up, view and manage your flexiRates in Internet Banking or the Suncorp Bank App.
Money in flexiRates is not included in your Available Balance. It is kept separate from your available funds as it has been fixed for the flexiRate period. In the Suncorp Bank App you can view your total held in flexiRates below your Available Balance.
Interest is calculated daily and paid at the end of the flexiRate period. Once you set up a flexiRate, your interest is fixed and guaranteed, provided the nominated period is completed.
Yep! You can request that your flexiRate period ends before the nominated end date, enabling you to access your funds. You can only request the release of your entire flexiRate balance; that is, you can’t request early access to just a portion of your flexiRate balance.
As flexiRate interest is calculated for a fixed term, there will be an interest adjustment if the flexiRate is released early.
The early release option is provided on a best-endeavour basis, but may not be available in all circumstances.
The interest adjustment is the percentage of the interest earned to date that you will lose in the event we agree to you releasing your flexiRate early. The interest adjustment is made according to the proportion of the term completed as outlined in the table below.
The interest adjustment amount applied depends on how early in the flexiRate term you request to release your funds. The interest adjustment does not impact on your original flexiRate balance. It simply reduces the amount of interest you will receive.
flexiRates can be set up easily via Internet Banking or the Suncorp Bank App
To set up flexiRates through the Suncorp Bank App:
- Open up the app and tap through to your accounts.
- Select the account you’d like to set up a flexiRate and then select ‘Account details’.
- Tap the + button that says ‘Add flexiRate’, and then type in the dollar figure you’d like to lock away.
- Next, select set your desired flexiRate term and then the end instructions for the flexiRate period.
- Confirm the details of your flexiRate then tap ‘Submit now’.
To set up flexiRates through Internet Banking:
- Log in to Internet Banking and select ‘Manage my flexiRates’ from the main menu.
- Click ‘Setup new flexiRate’ and then select the account you’d like to set up a flexiRate for.
- Type in the dollar figure you’d like to lock away, followed by your desired term.
- From here, you’ll be given the option to have your funds released back into your account at the end of the nominated period or for your flexiRate to be automatically renewed for the same period (if available).
- Select ‘Next’ to review your flexiRate details before clicking ‘Confirm’, then you’re good to go!
Head to the flexiRates page for more information and to see our current interest rates.
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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Eligible accounts
flexiRates are available with: Everyday Options Account, Business Saver Account and Business Premium Account.
Interest adjustment
Your interest will however be adjusted if you request to release your flexiRate early. This simply reduces the amount of interest you’ll receive and doesn’t impact the amount that you originally put in.
