- Our Simple Saver Account does not earn bonus interest. It is a stand-alone savings account and earns a standard variable rate without meeting any criteria. It's simple!
- For the Future Saver and Smart Saver Accounts, you will need to meet bonus interest criteria each month to qualify for bonus interest the following month. This is outlined in the diagram and table below:
Age
Monthly criteria
14-17 Years
No bonus interest criteria to unlock bonus interest.
18+
Deposit $1000 from an external account into your linked Everyday Account and make 5 eligible transactions that clear within the month.
- An external account is any Australian non-myBOQ account.
- A deposit from an external account includes wages paid by an employer from an Australian account.
- The deposit must be made into your linked Everyday Account (not your Future Saver Account or your Smart Saver Account). Cash and cheque deposits; or transfers from international accounts are not eligible deposits .
- Eligible transactions include direct debit payments, ATM withdrawals (not deposits), BPAY payments and purchases with your Visa Debit Card from your linked Everyday Account. Internal transfers are not eligible transactions.
- Transactions that are pending do not count as a transaction for the previous calendar month and will be counted in the following calendar month.
If the bonus interest criteria is met, it will activate your bonus interest for the following month.
Bonus interest is paid on the total balance of all Saver accounts of the same product type that are held in the same name. The amount of bonus interest you will earn is determined by the sum of funds across all savings accounts you hold of the same product type and the interest earning tiers for the product type.
Account
0 to $1m
Over $1M, up to $5M
Simple Saver
No bonus interest criteria to unlock bonus interest.
Future Saver
Up to $50k
$50,001 to $250,000
$250,001 to $5M
Smart Saver
Up to $250k
$250,001 to $5M