High Interest Savings Accounts & Term Deposits
Compare our high interest savings accounts to help you find the account to reach your savings goals.{sub-heading}
Compare our high interest savings accounts
Looking for a savings account with high interest, keen to save smarter, open your child’s first savings account, or simply put some money aside for the future? We’ve got different types of high interest savings accounts to suit all ages and stages. Compare our high interest savings accounts here.
Future Saver Account
Bonus interest variable rate for balances up to $50,000 if bonus interest criteria met**
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.
You can earn
{myboq-banking-rates|| fs3 || rate}%^^ p.a.{rate-display}
On deposit balances up to $50,000.
- 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**
Smart Saver Account
Bonus interest variable rate for balances up to $250,000 if bonus interest criteria met**
Our high interest savings account for customers 36 years or older. Meet the simple criteria to earn the bonus interest.
You can earn
{myboq-banking-rates|| sv2 || rate}%^^ p.a.{rate-display}
on deposit balances up to $250,000
- 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 bonus interest criteria**
Simple Saver Account
For balances up to $5 million
No hoops and no fuss when you just want to save. Simply sit back and watch your savings grow.
You can earn
{myboq-banking-rates|| ss3 || rate}% p.a.{rate-display}
For balances up to $5 million.
- Available on the myBOQ app
- No monthly account fees
- Grow your savings with no minimum deposit
- Simply sit back and watch your savings grow
Term Deposits
Fixed term interest rates and no account fees
Rewarding you with higher interest on balances over $5,000. Enjoy the security of a fixed rate for your nominated term.
You can earn
{boq-term-deposit||H764 ||min-balance-5k}% p.a.{rate-display}
on balances $5,000-$249,999, term of 6 to less than 7 months
- Flexible terms from just 1 month
- Minimum investment of just $1,000
- Choose how and when you receive interest payments
Savings account interest rates{yellow-border}
Compare our high interest saving rates accounts side by side.
Check savings account interest rates, fees and other important information.
Term deposits{yellow-border}
Term deposits are another high interest savings alternative to savings accounts. If you have over $5,000 to invest, are aged 18 years or older, and won’t need to withdraw any money for at least a few months, a term deposit could be another type of high interest savings account for you.
Tools and Calculators{yellow-border}
Have a savings goal? We'll help you do the sums and get there faster.
Savings calculator
Compare savings account interest rates and find out how much you need to deposit to reach your goals.
Term deposit calculator
Calculate how much you can earn with a term deposit account.
Budget planner
We’ll help you work out where you’re spending so you can start growing your savings.
Frequently asked questions{yellow-border}
If you can’t find the answer to your question here, there’s more support available. {sub-heading}
What is a savings account?
A savings account is a bank account where you can deposit your money and earn interest. It is a great way to save money, for a potential emergency, or towards a goal like a holiday, new laptop or house deposit.
The type of savings account you need will depend on your savings goals and other lifestyle factors so you should compare savings accounts to find the best one for you.
How to open a savings account?
Can my savings account be a joint account?
How is interest calculated on savings accounts?
Interest is calculated on BOQ savings accounts from the day funds are credited to your account and paid monthly. It is calculated daily by applying the applicable interest rate to the closing balance of your savings account each day as follows:
Account daily closing balance x interest rate (per annum)/{text-center}
Number of days in the year (365 days){text-center}
We will credit interest to your savings account at the close of business on the last day of each calendar month, and funds are available on the first day of the following month.
Some months have more days than others, which can affect the total dollar value of interest paid each month.
How to save money?
Do you have more questions?
For more everyday transaction account and saving account FAQs, click on the button below.
Tips for managing your money
Starting something new? We’ve got helpful tips for managing your money at every age and stage.
Starting Your First Job
You’re on your way to financial independence. We have transaction accounts, savings accounts and services to help you bank your way.
Starting Your Studies
Tips for managing your money while you’re a student, like having a transaction account for paying monthly bills and a savings account for unexpected expenses.
Joint Accounts
What you need to know about sharing a transaction account or a savings account with someone else.