Earn bonus interest each month you grow your net balance by at least $200 (excluding interest) and make no more than one withdrawal.
This account offers a maximum bonus rate of 5.05% on your balance. This is an ongoing bonus rate too, so it’s not going to expire after a few months after opening the account.
To earn this rate you need to grow your net balance (excluding interest earned) by $200 each month. This means that if you withdraw money from the account, you need to replace that money plus add another $200 during the month to earn the bonus interest.
You can make no more than one withdrawal during the month in order to be eligible for bonus interest. This account is designed to help you save and motivate you to leave the money in the account earning interest. If you’d prefer the flexibility of being able to access your savings whenever you need to you could consider a savings account with no withdrawal restrictions, although you might need to settle for a lower interest rate.
This account is designed to help you grow your savings balance. It offers bonus interest each month you grow your net balance by $200 or more (excluding any interest earned in the month) and make no more than one withdrawal.
Read on to learn more about the features of this high interest savings account, and how the bonus interest works.
| Product Name | Suncorp Bank Growth Saver Account |
| Maximum Variable Rate | 5.05% p.a. |
| Standard Variable Rate | 0.35% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 11 |
Suncorp received the following highly commended awards in the 2024 Banking Product Awards:
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
Alison Finder
Editor
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Angus Kidman Finder
November 25, 2024
Hi Graham, On this account, interest is calculated daily and paid out at the end of the calendar month (including any bonus interest if you meet the conditions for that).
Fred
September 17, 2019
Is the Suncorp Growth Saver Account covered by the covered by the Government Guarantee Scheme up to $250,000?
Jhez Finder
September 19, 2019
Hi Fred,
Thank you for your comment.
Upon checking, Financial Claims Scheme (FCS) under the Banking Act 1959 applies to the deposit accounts you have with Suncorp. Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution.
Yes, Suncorp Growth Saver Account is covered by FCS.
Regards,
Jhezelyn
Josh
September 12, 2019
Can you have joint names on this saver?
Charisse Finder
September 12, 2019
Hi Josh,
Thanks for reaching out to Finder.
Yes. Suncorp Growth Saver account can be opened by joint applicants, 11 years of age or older.
The joint account will be set up as “any to operate” which means that either account holder is authorised to withdraw funds from the account and complete transactions on behalf of both account holders.
You can also contact Suncorp at any time to change your account permissions.
I hope this helps.
Cheers,
Charisse
Stan
March 25, 2019
In order to qualify for the bonus interest does it mean that although you are allowed to make one withdrawal in a month, you need to replace at least that withdrawal amount plus the $200 dollars deposit by the end of the last day of the next month? In other words, the account must never fall below the the original deposit amount plus $200 each month, for the bonus interest to apply?
Jeni Finder
March 25, 2019
Hi Stan,
Thank you for getting in touch with Finder.
That’s right. So long that you grow your balance by more than $200 (excluding interest) and make no or just one withdrawal each month then you meet the bonus interest criteria.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Gordo
March 22, 2019
Maximum account balance?
Jeni Finder
March 23, 2019
Hi Gordo,
Thank you for getting in touch with Finder.
No maximum account balance. This Growth Saver Account is a high interest savings account designed to reward you for regular saving and there is no minimum or maximum balance requirements, no monthly account keeping fee, bonus interest is available, and full store access to make deposits and withdrawals.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Graham
November 23, 2024
When is interest calculated and distributed