I deal with Suncorp because they are one helluva great bank to deal with, the bank is exceptional and service is tremendous, the staff are exceptionally friendly and helpful and informative, they are always at the ready to help with any questions and problems you might have, they are only to willing to help.
The growth saver account seems good when you take it out and it will work for you, if you don't intend to withdraw any of your money out. It needs to grow by $200 a month, so, if, for instance you deposit $250 every month and one month you make one withdrawal of $51 (therefore only growing your account by $199 that month) then you lose your bonus interest for that month which is the only reason to have this account in the first place as the standard interest is pathetic (around $50 for a million dollars deposit).
Bonus interest went from 1.8% to 1.6% in the space of a month or two with several changes. No real information pushed through to the customer about this and have to go out of you way to find. Long term Suncorp customer but will put my savings back with another bank.
Was caught out not getting my bonus interest of $600 because I didn't replace the money withdrawn with at least $200 more by the end of the month. Thought you had to make 1 deposit a month and 1 withdrawal to get the bonus. Didn't realize the balance at the end of the month had to be $200 higher than at the beginning. Wasn't well explained to me when we signed up. An expensive lesson.
Suncorp have given me the option to add sub accounts so I utilise them for savings, spendings and general. It's easy to use by phone, internet or in store and has no additional charge.
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Intro bonus rate of 1.50% for first 3 months, reverting to 1.20% after. Deposit $2,000 each month and make 5 eligible payments from your Go Account. If you are between 18 and 25 deposit $1,000.
Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Day2Day Plus account and 5 eligible transactions are made by the linked account.
Make at least 1 deposit and no more than 1 withdrawal, including internal transfers or external payments.
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