Frequently asked questions: Term Deposits
What are Term Deposits?
A Term Deposit allows you to lock away an amount of money at a fixed interest rate for a nominated time period. Your return on investment is guaranteed – this means you’ll know exactly what your investment is worth at the end of the term. You can choose the investment amount and time period that suits your needs, plus there are options to receive interest payments over the life of the term deposit.
Yes. Negotiated rates are available for amounts $2,000,000 and over. Please contact us for additional information.
We’ll notify you about 3 weeks before your term deposit ends.
We'll provide you with information regarding your options and then ask you to provide us with your instructions on what you would like us to do with your funds.
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.
Minimum deposits and withdrawals may apply. Please read the Product Information Document before making any decision regarding this product. For a paper copy visit your local branch or contact us on 13 11 75.
