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

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Suncorp Everyday Options Account with 8.15% interest p.a.
Go to Deal
cacbm on 27/10/2008 - 11:18 suncorp.com.au (699 clicks)

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.

Financial Banking

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closed Comments

  • Pizza The Hut on 27/10/2008 - 12:01

    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. :)

  • jashjash on 27/10/2008 - 13:16

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

    • cacbm on 27/10/2008 - 13:36

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

    • Pizza The Hut on 27/10/2008 - 13:37

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

      • cacbm on 27/10/2008 - 13:40

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

        • jashjash on 27/10/2008 - 15:11

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

  • young_dazza on 27/10/2008 - 13:50

    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…

  • excite on 27/10/2008 - 16:02

    Is there any way to waive the account keeping fee?

    • cacbm on 27/10/2008 - 17:32

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

  • fchis on 27/10/2008 - 16:58

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

    • cacbm on 27/10/2008 - 17:31

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

      • fchis on 27/10/2008 - 18:06

        Great, thx for that.

  • twig on 27/10/2008 - 20:58

    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

    • young_dazza on 27/10/2008 - 21:50

      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.

      • twig on 27/10/2008 - 21:52

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

        cheers!

      • Horizon on 28/10/2008 - 13:02

        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.

    • SirCH on 29/10/2008 - 21:15

      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.

  • berserkk on 27/10/2008 - 21:24

    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 ;)

  • xen on 28/10/2008 - 08:36

    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.

    • cacbm on 28/10/2008 - 10:30

      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.

      • Horizon on 29/10/2008 - 21:23

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

  • Turd on 29/10/2008 - 23:52

    I wouldnt trust suncorp with a 10 ft poll..

    Read below and judge yourself:

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

  • tonyallen on 26/07/2010 - 12:03

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

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