Opening a Small Business

Important Information

¹⁵A Bonus Interest variable rate will only be paid if Bonus Criteria are met in the previous month. Bonus Criteria will be met where both the following conditions are met:

-  a minimum of $5,000 is credited to the linked Everyday Business Account in the prior calendar month. This excludes amounts transferred from another one of your BOQ Accounts including any Account you may be linked to as an Authorised User or joint Account holder;

AND

-  at least 5 direct debit transactions, ATM withdrawals or purchases of goods or services from a Merchant are made in the prior calendar month by using your eftpos Card or BOQ Visa Debit Card associated with your linked Everyday Business Account. This does not include cheques written or deposited, branch cash withdrawals, transfers or payments to any BOQ account or to a non-BOQ account via Internet Banking, in branch or at ATMs, transfer of funds to accounts held at an overseas bank, BPAY payments and pending Visa Debit Card transactions.

Transactions that are not settled (are pending) do not count towards the Bonus Criteria. If a transaction is made but settles in the following calendar month then the transaction will be counted in the following calendar month.

The variable Base Rate applies to balances over $500,000. The variable Base Rate always applies in the first month after opening an account. In the first month, Bonus Criteria on the transaction account is measured from the time the Business Performance Saver Account is opened, not the full calendar month even if the transaction account was already existing. Interest is calculated on a stepped basis and paid monthly on the first day of the following month. If Bonus Criteria conditions are not met the variable Base Rate only will apply.

The Business Performance Saver cannot be opened as a Controlled Money Account, Solicitors Investment Trust Account or Real Estate/Agents Investment Trust Account. Business Performance Saver Accounts are limited to one per entity.

¹⁴Rate includes additional interest rate of 3.10% p.a. which will be paid for 4 months from account opening date - to any new business customers who open a Business WebSavings Account on or from 5 December 2023. Additional interest only applies to account balances of $10,000 or more and is not available to existing customers whether or not they hold a Business WebSavings Account. After 4 months from the account opening date, the interest rate will revert to the standard Business WebSavings Account variable interest rate. Balances greater than $5,000,000 held in the same name are subject to approval. This offer can be amended and/or withdrawn by BOQ at any time without notice.

 Credit provided by Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence no. 244616 (BOQ). Conditions, criteria and fees apply. BOQ's standard credit assessment criteria apply. This website contains general advice, which has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and read the relevant T&Cs and Guide to Fees and Charges that apply to this product before making any decision about whether to acquire or continue to hold it, available at your local BOQ branch or at boq.com.au.

Acceptance of any application for credit is always at BOQ's lending discretion.

Information current as at 29 August 2025.