Question 1

How is interest calculated and applied?

Accepted Answer

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.

Question 2

Can I release my flexiRate funds early?

Accepted Answer

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.

Question 3

How is the early release interest adjustment calculated?

Accepted Answer

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.

Question 4

How do I set up a flexiRate?

Accepted Answer

A flexiRate lets you lock away a portion of your savings (for eligible personal and business saving accounts) for periods of up to 12 months within Internet Banking, Suncorp Bank Mobile App and the Suncorp App.

Follow these steps to setting up flexiRates within Internet Banking:

Select ‘Manage my flexiRates’ in the main menu.
Click on ‘Setup new flexiRate’.
Select which account you would like to setup the flexiRate from.
Type in the dollar figure you would like to place into a flexiRate
Select your desired term, either the periods shown or choose a custom end date.
Choose if you would like your funds released back into your account at the end of the nominated period or if you would prefer the flexiRate to be renewed for the same period.
Select ‘Next’ to review your flexiRate details before selecting the ‘Confirm’ button.

If you are looking to set up a flexiRate via the Mobile App:

Click on the hamburger menu on the top left hand side.
Locate the flexiRates menu option.
Once directed to a new screen select on the ‘Setup a flexiRate’ button at the bottom of the screen.
Select which account you would like to setup the flexiRate from.
Type in the dollar figure you would like to lock away and then click next.
Select your desired term, either the periods shown or choose a custom end date followed by next.
Review all of the details before confirming your flexiRate by clicking the ‘Setup flexiRate’ button.

To set up a flexiRate via the Suncorp App:

Select which eligible account you would like to setup the flexiRate from.
Select the Account Details tab
From the Account details screen select 'Add flexiRate' from the top right corner.
Select the dollar figure you would like to lock away
Select your desired term from the periods shown or choose 'Show more' for a list of more rates and terms
Choose your end instruction for the funds to be released back into your account or renewed for the same period if available.
Select 'Next' and review your flexiRate details before selecting 'Submit'

View the current Interest Rates for flexiRates.

flexiRates: higher interest rates on Savings

Why choose flexiRates

How do flexiRates work?

Interest Rates

Eligible savings accounts

55 Plus Account

Everyday Options sub accounts

eOptions Account

Business Saver Account

How to set up your flexiRates

Step 1

Step 2

Step 3

Step 4

Helpful Tools

Savings Calculator

Budget Planner

Personal Deposit Product Information Document

Frequently asked questions

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