Can I cancel my flexiRate and release the funds early?

You can request an Early Release of the funds that you had previously locked away with a flexiRate before your nominated end date through Internet Banking or the Suncorp Bank App. You won’t need to pay any fees to cancel your flexiRate but your entire flexiRate balance will be released, not a nominated portion. To request an Early Release through Internet Banking : Log in to Internet Banking and select ‘Manage my flexiRates’. Select the flexiRate you wish to release early, then click ‘Next’ and follow the prompts. To request an Early Release through the Suncorp Bank App : Open up the Suncorp Bank App and head to the ‘Account details’ section of the account you’d like an early release for. Tap ‘End flexiRate Early’, confirm the details and select ‘Release flexiRate’. Your interest will be adjusted if you choose to release your flexiRate early. The interest adjustment depends on how early in the flexiRate term you request to release your funds, which is outlined below.This simply reduces the amount of interest you’ll receive, and won’t impact the amount you originally locked away. Proportion of term completed % of interest payable up to the date we agree to withdraw the term deposit 0% - 25% 80% 26% - 50% 60% 51% - 75% 40% 76% - 100% 20% For more information, view the Personal Deposit Product Information Document .

flexiRates FAQs

New flexiRates are no longer able to be set up. Current flexiRates won’t automatically renew when they end, even if they were set to do so.

Any funds in a flexiRate (including interest earned) will be released into your linked account when the flexiRate ends.

Find out what this means for you

Managing flexiRates

Yes, all current flexiRates will show on your account statement, along with the applicable start and end dates, balances and interest rates.

Please be aware that new flexiRates are no longer able to be set up. Current flexiRates won’t automatically renew when they end, even if they were set to do so. Find out what this means.

No, you can’t add money to an existing flexiRate.

Requesting an early release will affect the amount of interest you will receive.

Please be aware that new flexiRates are no longer able to be set up. Current flexiRates won’t automatically renew when they end, even if they were set to do so. Find out what this means for you.

You can’t add money to an existing flexiRate while it’s active. Each flexiRate can have between $1 to $1 million, inclusive.

You can also request to release the funds in your flexiRate before your nominated end period through Internet Banking or the Suncorp Bank App, without having to pay a fee. Requesting an early release will affect the amount of interest you’ll receive, but not the amount you originally put in.

For more information on early releases, head to the Personal Deposit Product Information Document.

You can request an Early Release of the funds that you had previously locked away with a flexiRate before your nominated end date through Internet Banking or the Suncorp Bank App. You won’t need to pay any fees to cancel your flexiRate, although your interest will be adjusted.

This means the amount of interest you’ll receive will be less, but won’t impact the amount you originally locked away.

Please be aware that new flexiRates are no longer able to be set up. Current flexiRates won’t automatically renew when they end, even if they were set to do so. Find out what this means for you.

You’ll receive a secure message through Internet Banking and a notification in the Suncorp Bank App, along with an email alert, two weeks prior to your flexiRate end date. We’ll also do this when your flexiRate expires.