Bonus Interest Savings Account
Earn bonus interest with our interest earning savings account
This account is no longer available for sale to both new and existing customers from 1st April 2025.
Please note
New customers:
- This savings account is no longer available online to new customers and has been replaced by the new myBOQ Simple Saver Account available exclusively through the new myBOQ app.
Learn about the Simple Saver Account
Current customers:
- Existing Bonus Interest Savings Account customers are still able to access their account as normal via Internet Banking.
- As an existing Bonus Interest Savings Account holder, please note this account is not accessible from the myBOQ mobile app, which only supports new app-exclusive accounts and transaction types.
Our Bonus Interest Savings Account
Whether you're saving for a new purchase, a house deposit, a new baby or something else, our Bonus Interest Savings Account will help you reach your savings goal faster.
Earn Bonus Interest
Bonus interest is paid into your account when you limit your withdrawals to a maximum of one per month
No monthly account fee
Let your savings grow without monthly account fees
Easy account access
Access your account at any time, online and in-branch
Free monthly transaction
Choose from one of the following free transactions per month:
- 1 free BOQ/ATM eftpos withdrawal or transfer
- 1 free Internet Banking transfer to your BOQ account or BPAY payment
Secure deposits
All deposits up to $250,000 are protected by the Federal Government’s deposit guarantee, so your savings are secure with us.#
Interest rates
Interest is calculated daily and paid monthly^.
| Balance | Variable Base interest rate % p.a. | Variable Base + Bonus interest rate % p.a.* |
|---|---|---|
| $1 to $4,999 | 0.05 | 2.25 (base rate + 2.20% p.a. bonus interest) |
| $5,000 to $49,999 | 0.05 | 2.25 (base rate + 2.20% p.a. bonus interest) |
| $50,000 and over | 0.05 | 2.25 (base rate + 2.20% p.a. bonus interest) |
Bonus interest will be paid in addition to the base rate if no more than one (1) withdrawal is made during a calendar month. Calculated daily and paid monthly^. Interest rates are calculated on a tiered basis.
Fees
| Features | Applicable Fees |
|---|---|
| Minimum Monthly Balance | Nil |
| Account Maintenance Fee | Nil |
| Monthly Card Fee (Visa Debit) | Free |
| Teller Withdrawals | Nil |
| BOQ ATM/eftpos withdrawals/transfers | 1 free then $0.65 each |
| Internet Banking Funds Transfer to your BOQ Account or BPAY | 1 free then $0.30 each |
Single Pay Anyone (Third party BOQ account or other financial institution transfer) |
$0.65 each |
| Multi Payment | $1.50 for up to 10 payments then $0.19 for each additional transaction |
~ Other fees (including other bank ATM and International Transaction fees) and charges may be payable. Please view the Personal Banking Guide to Fees and Charges for more details.
Important information
For important information on the Bonus Interest Savings Account, view the Terms and Conditions.
We can also help with :
Fixed term interest rates and no account fees
Term Deposits
Rewarding you with higher interest on balances over $5,000. Enjoy the security of a fixed rate for your nominated term.
We’re receiving a high volume of online applications at the moment, so it might take us a little longer than usual to get your account ready for you. Please be assured we’ll process your request as quickly as possible.
- Flexible terms from just 1 month
- Minimum investment of just $1,000
- Choose how and when you receive interest payments
BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $50,000 IF BONUS INTEREST CRITERIA MET**
Future Saver Account
Our highest interest savings account for 14 to 35-year-olds. Meet the simple criteria to earn the bonus interest and watch your savings soar.
- Available on the myBOQ app
- No monthly account fees
- Comes linked with an Everyday Transaction Account
- Earn bonus interest each month when you meet the criteria**
