Bank Guarantee for Businesses
A written commitment issued on your behalf in favour of a third party to undertake to pay on demand the amount specified in the guarantee to meet your obligations under a contract signed between yourself and a third party.
Fees
| Fee | Type | Amount |
|---|---|---|
| Cancellation Fee (each) This fee is charged at the time the Bank Guarantee is returned to the Bank and cancelled. | Event | $100.00 |
| Establishment Fee 0.50% of the Bank Guarantee amount or approved facility limit (minimum $100). Where security is required additional fees may be applicable, such as, valuation, documentation settlement, and search fees. These may differ for each application and all fees will be advised in writing on approval. | Event | 0.5% of balance |
| Ongoing service fee Charged every 6 months · 1.5% (rounded to the nearest dollar) payable per half year in advance. Minimum of $150 per half year. | Ongoing | 1.5% of balance |
| PPS Registration Fee (Term Deposit) Term Deposits only | Event | $6.00 |
| Registration Fee (New Property Security) Determined at the time of the application | Other | From $0.00 |
| Variation Fee This fee is charged at the time the Bank Guarantee is varied on customer request. This occurs when there is a change to the favouree details and/or when the amount of the Term Deposit that secures the Bank Guarantee is reduced or we otherwise agree to change the Bank Guarantee. |
Features
- Free up working capital by providing a Suncorp Bank Guarantee.
- When you are looking to purchase or build a property, a Suncorp Bank Guarantee can be issued to the vendor or building contractor in place of a cash deposit.
- A Bank Guarantee can be issued to the landlord or real-estate agent as a bond for security against items like damage or unpaid rent.
- They can be used as Maintenance/Retention Bonds - e.g. builder’s post-completion obligations during a warranty period
- They can act as Performance bonds e.g. in favour of a Local council/ Government Department for minor construction/ development projects
- Security type: term deposit or a property mortgage with Suncorp Bank
- Term: Any term you choose or no fixed term (ongoing)
Eligibility
- You must have a term deposit or an existing Suncorp Bank property mortgage that can be offered as security for your Bank Guarantee.
- You will need to provide a completed application with supporting documentation relevant to the bank guarantee purpose.
Constraints
- Maximum limit — $1,000,000.00For Bank guarantees secured by Term deposit
More Information
Published by Suncorp Bank under the Consumer Data Right · Last updated 22 March 2026 · Product ID BG · View on CDR.gov.au