Suncorp eOptions Savings Account Review

Suncorp Bank invites you to switch on your money by opening one of their eOptions high interest savings accounts. While the standard interest rate you’ll be earning on your savings appears to be slightly less than comparable interest rates advertised on other savings accounts at the moment, the Suncorp eOptions account offers you additional and unique features the others can’t.

Savings Account	Account Details	Intro Rate p.a.	Variable Rate p.a.	Intro Period p.a.	Fees	Min Balance and Min Deposit
Suncorp eOptions Saver	4.25% p.a. variable rate higher rates available for fixed terms	4.25%	4.25%	0.00%	FREE	$0

Basics of the Suncorp eOptions Account

eOptions is Suncorp’s online savings account and because you never have to go into a branch to make deposits or withdrawals, Suncorp Bank is able to offer you the eOptions account fee free. Other eOptions features you need to know about include:

• An ongoing 4.25% standard variable interest rate calculated daily and paid monthly; this is not a promotional rate which is going to expire just months after you open the account.
• The standard variable interest rate follows the adjustments the Reserve Bank of Australia makes to the official cash rate; you will be notified of changes to your interest rate.
• No account keeping or transaction fees.
• No minimum account balance or minimum initial deposit is required to activate the account. * Unrestricted access to your funds via phone and internet banking.
• A friendly, Australian, voice activated call centre to help with enquires or transfers.
• No transaction card is issued so you will not be tempted to withdraw your savings at an ATM.
• eOptions is an independent account, not required to be linked to an existing savings or everyday account.
• You have the ability to increase your savings by applying Suncorp’s flexiRates to some or all of your eOptions account balance.

Suncorp’s flexiRates Options

Suncorp Bank understands that you want to see significant results in your high interest savings account as this motivates you to keep adding to your savings. Therefore, Suncorp offer you the unique ability to take advantage of a higher interest rate on your savings for a period from one month to one year. You can lock just some or all of the balance in your eOptions account into a higher flexiRate and there are no minimum or maximum balance restrictions. The flexiRate interest is calculated daily and paid at the end of your chosen term; rates and terms you can choose include:

• 3 month term, at 5.45%
• 6 month term, at 6.15%
• 12 month term, at 6.45%

The five month term and rate is a new special offer, but you can choose any amount of time which suits you, simply by logging into internet banking and allocating the funds you choose, to attract a flexiRate. Apply for a Suncorp eOptions Account The eOptions account is Suncorp’s only online savings account and as such you can get your application process started online right now. The website and forms are straightforward and intuitive, even making sure you complete a checklist so you have all of the information you need to complete the application close at hand before you start. The online application process requires:

• You must be over 18 years old.
• You can choose between a sole and joint account.
• You choose an additional security password to identify you when you use phone banking or the customer enquiries line.

You are then contacted by email with your application details, but for your application to be approved, your identity must be verified. The eOptions application form provides a link to the Australia Post Identity Form which you need to fill out and take in to an Australia Post or Suncorp branch; Suncorp has branches in every Australian capital city for easy access to personalised banking. If it takes you more than a week to submit your identity form, Suncorp will contact you to check whether you are having any difficulties. Once your identification has been verified, your account is activated in 2-5 business days and your account details are mailed to you as confirmation. Benefits of a Suncorp eOptions Savings Account

• Suncorp is Australia’s fifth largest bank and is perfect if you are looking for the security of a strong and well trusted institution but want to avoid perpetuating the monopoly held by Australia’s Big Four Banks.
• The standard interest rate reflects the RBA’s official cash rate and with interest rates tipped to make several rises before the end of 2009 and rise six times before April 2010, you can be certain that for the foreseeable future, your savings account will be earning you a high and increasing interest rate.
• If you are likely to be tempted by the accumulating funds in your high interest savings account, the eOptions account allows you to link with Suncorp’s flexiRates feature. The ability to lock away a portion of your savings in a higher interest rate allows you to maintain the freedom and flexibility afforded to you by an online savings account, while still feeling sure you’re getting the best return on your savings.
• An Australian-based call centre is a real and important feature for Australian banking customers as too often enquires are left on hold for long periods, only to be answered by foreign call centre operators. Calling the Suncorp call centre you feel assured you’re dealing with one of the bank’s qualified and certified employees who understands you in every way.

If you are ready to switch on your money and make your savings work for you in the flexible and user-friendly Suncorp eOptions high interest savings account, start your application now.

Click to Open an account online now and start earning interest with the Suncorp eOptions Savings Account