With the Suncorp Growth Saver Account, strict savers are rewarded with a special 0.70% p.a. interest rate on your savings when you grow your account's net balance by at least $200 each month (excluding any interest earned) and make no more than one withdrawal in the month. Plus, the account comes with no regular account keeping fees and a handy mobile app, so you’ll be able to grow your savings with ease in no time.
The Suncorp Growth Saver Account rewards savers with a maximum interest rate of 0.70% p.a. for balances from $0 as long they meet the minimum account conditions each month.
To make sure you get your hands on the monthly bonus interest, you'll have to grow your net balance by $200 or more (not counting interest) and have made no more than one withdrawal in the calendar month. That means that on the last day of the month, your closing balance needs to be at least $200 more than it was on the last day of the previous month. Got it?
Keep in mind, interest earned in the calendar month won't count towards the balance growth requirement for the bonus interest. If you don’t meet the requirements one month, you still be able to qualify for the next, but try your best to meet them - if you don't, the interest rate drops to a much less enticing 0.05% p.a.
Transactions with the Suncorp Growth Saver Account are made easy through unlimited free internet, phone banking and branch deposits. And best of all, this account also has no monthly account keeping fees and no minimum balances, so your savings won’t be eaten up.
If you're serious about reaching your savings goals and are committed to growing your savings stash by at least $200 a month, then the Suncorp Growth Saver Account and its 0.70% p.a. interest rate might be a good choice for you.
The additional 0.70% of interest only applies if you meet the monthly conditions by growing your net balance by $200 or more each month and not making more than one withdrawal. interest doesn't count towards this amount either. So, keep in mind that if you don't meet these conditions, you'll only get the 0.05% p.a. standard interest rate, so this might be a good pick for the super dedicated savers.
| Balances from $0: 0.05% p.a. | |
| Balances from $0: 0.70% p.a. | |
| Grow your net balance by at least $200 (excluding interest) and make no more than one withdrawal in the month. |
| $0.00 | |
| n/a | |
| unlimited free transactions from internet, phone, branch deposits. | |
| n/a | |
| n/a | |
| n/a | |
| $0.00 | |
| n/a | |
| n/a | |
| $0.00 | |
| $0.00 | |
| n/a |
| $0.00 | |
| $0.00 | |
| Monthly |
| no | |
| none | |
| no | |
| no | |
| no | |
| yes | |
| no | |
| yes | |
| yes | |
| no | |
| no | |
| none | |
| none | |
| none |
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).
Read full reviewThe 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).
I've been with Suncorp for many years as well as other banks and they are always great to deal with. Just a better bank offering better interest rates.
Read full reviewI've been with Suncorp for many years as well as other banks and they are always great to deal with. Just a better bank offering better interest rates.
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.
Read full reviewBonus 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.
Read full reviewWas 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.
Transparent no fees, good interest, good customer service and online service. I have no cons so far.
Read full reviewTransparent no fees, good interest, good customer service and online service. I have no cons so far.
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
0.25% p.a. (for $0 and over)
Yes up to $250,000
Newcastle Permanent
Smart Saver
0% p.a.(for $0 and over)
1.20% p.a. (for $0 and over)
Yes up to $250,000
Auswide Bank
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
1.25% p.a. (for $0 and over)
Yes up to $250,000