Suncorp Term Deposit

Term deposit accounts are now so much easier to understand, to customise and to open; regardless, you still need to take care in choosing the term deposit account and provider which is right for you. Suncorp Bank offers a range of term deposit account choices, an Australian based call centre and unique flexible term deposit options too, which may just suit your investment needs.

Choosing a Term Deposit Account Provider

The provider of the term deposit account is just as important as the term and the investment amount you choose because while you don’t need to be in regular close contact with the provider during your term, you do want to make sure you are comfortable in dealing with them if you have a question or are seeking advice or changes about reinvesting your term deposit at maturity.

What to look for in a term deposit provider:

• Don’t worry about brand loyalty. While the bank which holds your mortgage and your transaction account may be able to negotiate a deal on a term deposit interest rate, you don’t have to automatically choose the provider you are already with. Term deposit providers differ as much as snowflakes and the interest rate offered on a six month deposit with one provider is often significantly different to the rate offered by another.
• Choose the term, investment and interest rate which suits you. As you shop around you will see the differences in interest rates and minimum balances between term deposit account providers. As a result, to choose a term deposit provider you simply need to compare the ones with the best deals on the terms and investment amounts which suit you.
• Security and longevity. A term deposit is a long term investment, even if you are just investing for one or two years, the Government’s Deposit Guarantee is set to expire in less than two years and you want to be sure your term deposit will be safe after it does. Therefore check the credit rating of the term deposit provider, it should be on their website, to see how secure they are; all major Australian banks have at least an A rating.

Term Deposit	1 Month	3 Month	4 Month	6 Month	12 Month	24 Month	36 Month	60 Month	Min Deposit
Suncorp Term Deposit		5.50%	5.45%	5.15%	6.05%		6.75%		$10000

Features of Suncorp Bank’s Term Deposits

Suncorp Bank has an A credit rating and may be the term deposit account provider you are looking for if you want the choice and flexibility of a term deposit which can be viewed and managed online, while knowing that there is a banking representative just a phone call away with help and advice if you need it.

Suncorp term deposit accounts:

• Must be opened in a branch. This is so the bank can verify your identity before opening the account in your name.
• Can be opened in joint names. This does mean both account holders will need to visit the bank with their identification documents but in pooling your investment resources you may be able to qualify for a higher interest rate on a larger investment, or be more comfortable investing for a longer term.
• Can be opened as a superannuation investment or in trust. Suncorp term deposits are not just for personal use and can be used for long term investments or third party agreements.
• Award winning term deposit products. The Suncorp term deposit account was awarded the Financial Review’s Smart Investor Blue Ribbon Award in 2009. CANSTAR CANNEX rated the Suncorp term deposits as outstanding value and rated the product worthy of five stars.
• You can calculate your return before you invest. You can use the Suncorp term deposit calculator to decide on the perfect combination of investment amount, investment term and payment options to suit you.
• You can choose any investment amount over $1,000. Suncorp requires a minimum investment of $1,000 to open a term deposit account but you can invest any amount you like, and deposits up to $1 million are government guaranteed.
• You can choose a term from one month to five years. Depending on how much you are investing you can lock away your funds for as long as you are comfortable with.
• Interest is paid at maturity on investments under 12 months. You can choose to have monthly interest payments made on investments for longer than two months but your interest rate will be compromised. Similarly you can choose quarterly, six monthly or yearly interest payment options but you will earn a lower rate of interest.

Compare Suncorp’s term deposit rates on $5,000 investment with interest paid at maturity:

• A three month investment will earn 5.50% interest.
• A one year investment will earn 6.05% interest.
• A three year investment will earn 6.75% interest.

If you would like to find out more about the term deposit options available from Suncorp Bank, or compare the rates and terms offered by other Australian term deposit account providers, you can use our comparison tables here. you can also follow our secure links to sign up or start your application process online today to start building your investments for the New Year ahead.