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Suncorp Everyday Options Account with 8.15% interest p.a.

150

You get two accounts with this Everyday Options Account. One is a high-interest earning account, the other one is everyday access account.

Pro:

  • 8.15% until 1 February, 2009, thereafter 6.50% (8.10% until 1 January, 2009 at BankWest, thereafter 6.60% for 12 months, and 6.30% thereafter)

  • Deposit guaranteed by the Federal government

  • $30 cash back from MoneyBackCo

  • Unlimited ATM (any, not just Suncorp ones) withdrawal outside Queensland

Con:

  • $5 account keeping fee per month (waived for full-time students, or combined $20,000 or more in all Suncorp accounts.)
  • Checking balance without withdrawing using ATM costs $2

Additional information thanks to xen.

Related Stores

Suncorp
Suncorp

closed Comments

  • Good to see a biggish bank continue to offer high interest on deposit accounts at a time when the official rate is coming down. Grab them while they last. :)

  • hopefully they don't freeze your account when things go down hill hey

    • they are included in the government guarantee and not managed fund so don't think it will happen

    • for the amount most people keep in the bank, the government guarantees you can't lose it.

      • yeah, and if you're super rich and have millions in the bank, you probably won't be coming on OzBargain to find bargains. ;)

        • but that's WHY i'm super rich, because I visit OzBargain!

  • A short time ago it was looking like Suncorp would go the way of BankWest and get gobbled up by one of the 'big 4' banks. However it seems like this was called off, at least for now:

    http://business.smh.com.au/business/suncorp-likely-to-hold-o…

  • Is there any way to waive the account keeping fee?

    • For full time students, the account keeping fee is waived.

  • Is it like term deposit? ie. the interest won't be paid till feb next year?

    • In the high interest earning account, the interest is calculated daily and paid monthly.

      • Great, thx for that.

  • any idea if its a good idea to go with bankwest?
    hearing about commonwealth bank buying them out puts me off, but their fee-free account sounds so good + visa debit card

    • I'd give it about 12 to 18 months before BankWest accounts are "upgraded" to commonweath ones, complete with the big bank fees and charges. I currently bank with BankWest and will definitely move when the "upgrade" happens. My shortlist is currently Suncorp and Citibank. Im just waiting to see how the suncorp potential merger pans out first.

      • ahh fair enough
        i'll finish signing up for bankwest then.

        cheers!

      • Sorry, but ditto & same here!
        I have my ill-gotten billions in BankWest (& now St George as not-all-eggs-in-one-basket) but like everyone else, will migrate when the time comes.

    • Yeah - I like Bankwest - had their Telenet Saver for almost a year now.

      Good interest, good service, seems like a fun company (seen www.happybanking.com.au) but I'm probably gonna move when Commonwealth takeover as well. That is if they change the accounts of course.

  • Any idea which account is giving the best interest atm?
    i'm out of bonus rates for bankwest and ing.
    i'm sure there was somewhere comparing all the rates, but i can't remember where.
    This one seems good but $5 a month is a bit rich for someone as tight as me ;)

  • FYI:

    It's not "Unlimited ATM (any, not just Suncorp ones) access outside Queensland" it's unlimited withdrawals. If you check your balance on a non-Suncorp ATM it costs $2.

    Also fee's are waived if you have combined $20,000 or more in all Suncorp accounts.

    Looks like a good deal though, I've just signed up.

    • Oh yeah. I called Suncorp yesterday and the lady told me they charge you for checking balance but not for withdrawing, which I thought it was weird but no biggie.

      • I guess the idea is to withdraw a small amount when you want to check your balance.

  • I wouldnt trust suncorp with a 10 ft poll..

    Read below and judge yourself:

    http://business.smh.com.au/business/suncorps-shareholders-fa…

  • This is a great website for comparing savings account in Australia
    http://www.savingsaccountfinder.com.au/term-deposit-accounts…

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