myBOQ Saver FAQs

To access the myBOQ app you’ll need to open a new myBOQ Saver account.

Yes, after completing the application we'll send a message to the other party and the account will be opened once they have provided their details. Important to know that all applicants must complete formal identification before the account can be opened.

No, our transaction and savings account are for personal use only.

No. We don't charge you Monthly fees on any of our myBOQ accounts. For details on any other fees you can check them out here.

You can find all our latest rates here.

Interest is calculated from the day funds are credited to your account. It is calculated daily by applying the applicable interest rate to the closing balance of your account each day as follows:

Daily closing balance x interest rate (per annum)
Number of days in the year (365 or 366 days)

We will credit interest to your account at the close of business on the last day of each calendar month. The interest credited to your account will only be included in the closing balance from the first day of the next calendar month.

• For our Simple Saver Account, you don't need to meet any criteria/do anything to receive the best rate for this account. It's simple!
• For the Future and Smart Saver accounts, you will need to meet a monthly deposit requirement to qualify for bonus interest. This is outlined in the table below. 

Bonus interest is paid on the total balance of all Saver accounts that are held in the same name. The amount of bonus interest you will earn is determined by the balance in your account.

The month following your 18th birthday you will need to begin depositing at least $1,000 to your Everyday Account and make 5 eligible transactions on your Everyday Account, in order to meet the Bonus Criteria and continue to have Bonus Interest applied.

So if you turn 18 in on the 20th of January you will need to deposit $1,000 into, and make 5 eligible transactions fromyour Everyday Account in February to continue to receive Bonus Interest.

If you're aged between 14 and 35 and already have a Future Saver, then your account will automatically convert to a Smart Saver when you celebrate your 36th birthday, meaning the Bonus Interest you receive on your account when the Bonus Criteria is met the previous month will change. You can see the Smart Saver interest here. 

So, if you turn 36 on say the 14th day of September, your account would be automatically converted to a Smart Saver for the month of October.

Saver accounts are restricted to nine per entity e.g. individual or joint.

Not at this time.