Effective from 22 August 2026, new flexiRates are no longer able to be set up.
We know this is a significant change for customers who use flexiRates. Alternative savings options are available to help support your savings goals. Personal customers can consider Growth Saver accounts or Term Deposits, and business customers can consider Term Deposits or Business Saver accounts.
What’s happening?
Suncorp Bank has made changes to flexiRates.
Effective from 22 August 2026:
- new flexiRates are no longer able to be set up and automatic renewal of flexiRates is no longer available
- early release of existing flexiRates funds is still available. ƒ
What does this mean for you?
If you don’t have a flexiRate, you no longer have the option to set one up.
If you already have a flexiRate:
- your current term will stay the same
- when your flexiRate/s end, it won’t automatically renew if it had been set to do so because new flexiRates are no longer able to be set up. Instead, your funds (including interest earned) will be released into your linked account when your flexiRate ends
- you can still choose to release your existing flexiRate funds early ƒ
- once your current flexiRate/s ends, you’ll no longer be able to set up a new one.
What happens next?
If your flexiRate was set to automatically renew on or after 22 August 2026, it won’t renew because flexiRates are no longer available to be set up. When your flexiRate ends, your funds (including interest earned) will be released into your linked account.
When your flexiRate ends on or after 22 August 2026, your funds (including interest earned) will be released into your linked account when your flexiRate ends.
After your flexiRate ends, you won’t be able to set up a new flexiRate.
What alternative savings options are available?
A variety of options are available to help support your personal and/or business savings goals. Personal customers can consider Growth Saver accounts or Term Deposits, and business customers can consider Term Deposits or Business Saver accounts.
Our savings options
Can I still set up a flexiRate?
No. Effective from 22 August 2026, new flexiRates are no longer able to be set up.
What if I want a different savings option?
Compare our other savings options, for personal banking customers or business banking customers.
1. flexiRate interest rates shown are for comparison purposes only. Rates shown were available for new flexiRates on 21 August 2026 but are no longer available, as new flexiRates are no longer able to be set up.
> For investments over $2,000,000, you can contact us or visit a branch to discuss a negotiated rate.
For more information, you can view all interest rates and terms for Term Deposits on our website.
1. flexiRate interest rates shown are for comparison purposes only. Rates shown were available for new flexiRates on 21 August 2026 but are no longer available, as new flexiRates are no longer able to be set up.
>> For investments over $2,000,000, contact your Relationship Manager, contact us or visit a branch to discuss a negotiated rate.
For more information, you can view all interest rates and terms for Term Deposits on our website.
If you’re a relationship-managed business customer and have questions about other business banking savings options, please contact your Relationship Manager. You can also contact us or visit a branch.
Frequently Asked Questions
What’s changed and what do I need to do?
What’s changed with flexiRates?
Effective from 22 August 2026, new flexiRates are no longer able to be set up. Current flexiRates ending on or after that date won’t automatically renew if they had been set to do so because new flexiRates are no longer able to be set up. Instead, your funds (including interest earned) will be released into your linked account when your flexiRate ends.
Do I need to do anything?
If your flexiRate is set to automatically renew when it ends, it will no longer do so as flexiRates are no longer able to be set up. When your flexiRate ends, your funds (including interest earned) will be released into your linked account.
What happens to my existing flexiRate?
Will my existing flexiRate be cancelled?
No. Your current flexiRate will remain in place.
What happens when my flexiRate ends?
Your flexiRate won’t renew even if you have previously requested auto renewal. Your funds, including interest earned, will be released into your linked account instead.
I currently have my flexiRate set to renew. What happens?
Your flexiRate will no longer renew when it ends and your funds, including interest earned, will be released into your linked account instead.
Will I still receive flexiRates notifications?
Yes. You’ll continue to receive notifications relating to flexiRates.
Interest, rates and linked accounts
How can I check the interest rate on my current flexiRate?
You can check interest rates for any existing flexiRates in the Suncorp Bank App or Internet Banking.
What will happen to my interest when my flexiRate ends?
Interest earned will be released into your linked account along with your original funds.
How will these changes affect flexiRate interest rates?
These changes relate to the set up of new flexiRates and the renewal of existing flexiRates only. Any interest rate changes are communicated separately.
Will the bank account linked to my flexiRate be affected because of this change?
No. These changes only apply to flexiRates.
What interest will I earn once my flexiRate ends?
You’ll earn the standard interest rate that applies to the account that your flexiRate funds were released into. You can check the current rates associated with personal everyday accounts and business bank accounts. If you hold an account that's no longer available for new customers, you can check the current rates associated with personal everyday accounts and business bank accounts.
For more information on flexiRate terms and conditions for personal and business banking customers, view the relevant Product Information Documents. For more information on the changes to flexiRates, view the summary of changes.
We’re here to help
Contact us
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.
ƒ If you choose to release your flexiRate early, an interest adjustment will apply because flexiRate interest is calculated for a fixed term. You’ll lose a portion of the interest earned up to the date your flexiRate is released. If you choose to release your flexiRate, you’ll need to release the full balance. Partial releases aren’t available.
° If you need to make more than one withdrawal, you’ll still receive the standard variable interest rate.
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~ Business Saver accounts can only be opened online for certain business structures.
