Savings account vs term deposit
Suncorp Kids Savings vs term deposit
4.55% a year
5.75% a year for 1 year
Compare on
Interest over 1 year on $50,000
$2,275
4.55% a year, conditions met
$2,875
5.75% a year · paid at maturity
Over 1 year on $50,000, Suncorp Kids Savings pays $2,275 with its conditions met; Suncorp's 12-month term deposit pays $2,875.
Worked out on $50,000 until you pick a balance
SuncorpKids Savings
SuncorpTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$2,275
with its conditions met
$2,875
paid at maturity
+$600 · More interest over the term
Interest over 1 year without meeting the conditions
on $50,000
$175
at the base rate
$2,875
no monthly conditions
Rate over the term
a year, on $50,000
4.55%
with its conditions met
5.75%
fixed for the term
+1.20 · Higher rate over the term
Asked of you each month
- A deposit of at least $20
- At most 1 withdrawal
Nothing
the money stays put
Getting the money out
Any time
a withdrawal can cost that month’s bonus
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
the bank sets it
No
fixed for 1 year
Minimum to open
None
$5,000
up to $2,000,000
Who can open it
Anyone under 18
Anyone
How they differ
- A savings rate can change at any time. Suncorp Kids Savings's figure holds today's rate for 1 year.
- A term deposit's rate is fixed for the term, but the money is locked in: breaking it early needs 31 days' notice and usually costs some of the interest.
- Both are covered by the Financial Claims Scheme, up to $250,000 per person at each bank. Money in both at Suncorp shares that one $250,000.
Suncorp Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
1 monthPaid at maturity1.25%$52
2 monthsPaid at maturity1.95%$163
4 monthsPaid at maturity3.95%$658
5 monthsPaid at maturity3.70%$771
7 monthsPaid at maturity4.00%$1,167
8 monthsPaid at maturity3.70%$1,233
9 monthsPaid at maturity5.30%$1,988
10 monthsPaid at maturity3.70%$1,542
11 monthsPaid at maturity4.10%$1,879
1 yearPaid at maturity5.75%$2,875
18 monthsPaid annually5.15%$3,863
3 yearsPaid annually5.00%$7,500
4 yearsPaid annually5.00%$10,000
5 yearsPaid annually5.00%$12,500
As of 9 November 2026, over 1 year on $50,000, Suncorp Kids Savings pays $2,275 with its monthly conditions met; Suncorp's 12-month term deposit pays $2,875 at 5.75%. Figures are the bank's published rates, worked out on the balance above as simple interest. Each row says which figure is higher; it doesn't say which one suits you.