Future Saver
Our highest bonus interest savings account for 14 to 35 year olds bundled with the Everyday Account.{sub-heading}
Earn up to
{myboq-banking-rates|| fs3 || rate}%5 p.a.{rate-display}
On balances up to $50,000 when monthly criteria is met
Open your Future Saver account
Earn a high bonus rate
Up to {myboq-banking-rates|| fs3 || rate} % p.a.5 on balances up to $50,000 when you meet monthly criteria on your linked Everyday account.
No monthly account keeping fee
We’re here to help you grow your savings faster – no monthly account keeping fees mean you keep all your cash.
Government Guarantee6
Your money is protected by the government guarantee with up to $250,000 per person covered by the Financial Claims Scheme.
One savings goal or nine?
Saving for a house, holiday and a dog? Open up to nine Future Saver accounts in the myBOQ app.
Grow your money with round ups4
Round up your transactions to the nearest dollar and the extra goes to your Future Saver.
All your banking in one app
Future Saver comes bundled with an Everyday account, and you can manage both with the myBOQ banking app. All yours.
Things you should know{yellow-border}
- myBOQ is our mobile app with exclusive app-only accounts like Future Saver and your Everyday Account. That means you can't access app-only accounts via Online Banking.
- If you hold other bank accounts with us that you access via Online Banking, you won't be able to get into those accounts within the myBOQ app.
How to earn bonus interest{yellow-border}
You’re only two steps away from our highest bonus interest rate.{sub-heading}
Deposit at least $1,000 each month into your linked Everyday Account.
Transfer a minimum of $1,000 each month from another Australian Bank. Getting your salary or wages paid directly into the transaction account is an easy way to do that. (These deposits must be electronic, so cash and cheque deposits won't count.)
Make 5 or more eligible transactions from your linked Everyday Account.
Use your transaction account at least 5 times each month. Eligible transactions include direct debit payments, ATM withdrawals, BPAY payments or purchases with your Visa Debit Card. (Transactions must be settled before they’ll count.)
That’s your bonus sorted
Your bonus interest will automatically go into your savings account the following month once you've met the bonus interest criteria5
Note for new customers: To help you get started on reaching your savings goals, you'll start earning bonus interest as soon as you open your Future Saver Account. Then to continue earning monthly bonus interest rates you'll need to meet the above bonus interest criteria.
If you're aged between 14 -17 years of age, we'll waive the bonus interest criteria, so you'll earn bonus interest every month on your Future Saver balance as shown in the table.
Future Saver interest rates{yellow-border}
Bonus Rate % p.a.
when monthly criteria are met5
Interest rates are variable rates and are subject to change. We calculate your interest daily and pay the total into your savings account on the first day of the following month.
Important Information
- Bonus Interest Rate will only apply for each calendar month when the bonus interest criteria are met in the previous calendar month. If the bonus interest criteria are not met, your account will earn the Base Rate.
- The Future Saver Account will automatically convert to a Smart Saver Account on the date you turn 36 years old. If you have a joint account, the Future Saver will convert when the eldest joint account holder turns 36 years old.
Ready for a new savings account?{yellow-border}
Before you apply for the Future Saver, you'll need:
- To be aged over 14 years old
- To be the account holder (applications cannot be completed and submitted by an Executor/Financial Administrator/Power of Attorney/ Legal representative) and the account cannot be for a deceased estate, business, superannuation or trust.
- An Australian residential address
- An Australian driver's licence or Australian passport
- An Australian mobile number
- A smartphone that supports iOS 14.0+ or Android 9.0+.
Important Documents{yellow-border}
MyBOQ Deposit Accounts General Terms & Conditions
PDF{sub-tag}
TMD - Future Saver
PDF{sub-tag}
myBOQ Deposit Account Interest Rates, Transaction Limits, Fees and Charges
PDF{sub-tag}
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.
Can I open a joint savings account?
Yes, accounts can be opened with two people only as joint owners. Once you’ve completed your application, we’ll send the other party a message with details on how to get started.
If they're a new myBOQ customer, they'll get a unique application ID and an invite prompting them to download the myBOQ app to get started.
But if they already have myBOQ they can apply by using the application ID in the account section of their myBOQ app. Select ‘Sign up for a new account’ and then ‘Join an existing application’.
If you hold both joint and individual Future Saver Accounts, you'll need to meet the bonus interest criteria separately for each, on the respective linked Everyday Accounts, to activate the bonus interest on each savings account.
We apply the Tiered interest rate to joint and single accounts separately.
How to set up a joint bank account?
How do I open a Future Saver account?
What is a transaction account?
How is savings account interest calculated?
We calculate interest on your account/s from the day funds are credited to your savings account. It's calculated daily by applying the applicable interest rate to the closing balance of your account each day as follows:
Future Saver Account daily closing balance x interest rate (per annum)/{text-center}
Number of days in the year (365 days){text-center}
We'll credit all the interest to your account at the close of business on the last day of each calendar month. Those 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.
The amount of interest you will earn is determined by the balance in your account.
To ensure that you are achieving the bonus interest rate, check you are meeting the criteria required in the previous month:
- Deposit at least $1,000 each month into your linked transaction account.
- Make 5 or more eligible transactions from your linked Everyday account
How do I qualify for bonus interest?
What happens to my Future Saver when I turn 36?
If you're aged between 14 and 35 and already have a Future Saver Account, your account will automatically convert to a Smart Saver Account when you celebrate your 36th birthday. This means that a new interest rate will apply from the first month after the month in which you turned 36. You can see the Smart Saver interest rate and interest tiers here.
For example, if you turn 36 on the 14th day of September, your account will automatically convert to a Smart Saver for October.
If you have a joint account, then your Future Saver Account will automatically convert to a Smart Saver Account once the eldest joint account holder turns 36 years old.
What happens when the eldest joint account holder turns 36?
A Future Saver Account can only be held as a Joint Account if both account holders are between 18 years old and 35 years old. If you have a Future Saver Account as a joint account, once the eldest joint account holder turns 36, you will no longer be eligible to hold a Future Saver Account and:
- Your existing Future Saver Account will automatically convert to a Smart Saver Account;
- The fees, charges and interest rates that apply to Smart Saver Accounts will apply to your converted account.
- We’ll apply the new interest rate to your balance from the first day of the month after the month in which you (or the eldest joint account holder) turned 36.
Can I use Online Banking to manage my Future Saver?
No, Future Saver high interest savings accounts and their linked transaction accounts can only be used through the myBOQ mobile app. You can't use the app on a desktop or laptop computer.
You can get to your other Bank of Queensland accounts like Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account through Online Banking, but not in the myBOQ app.
If I already have a Fast Track Saver account, can I access the myBOQ app?
No. The myBOQ app works on a different system. That's why BOQ banking products such as Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account are available through Online Banking but not in the myBOQ app.
However, our Simple Saver, Future Saver, Smart Saver and the Everyday Account are all available on the myBOQ app. On the app, you can open an account and manage all of your everyday banking from there.
Do you have more Future Saver account questions?
For more everyday transaction account and saving account FAQs.
Explore more transaction and savings accounts{yellow-border}
Looking for something else? Explore our everyday banking and savings account options.{sub-heading}
Everyday Account
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Standalone transaction account
Our low-fee Everyday Account, available exclusively on the myBOQ app.
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No monthly account keeping fees
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Simple Saver Account
Savings account
A no hoops savings account with no monthly interest criteria.
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Standard variable rate on balances up to $5 million
Smart Saver Account
Bundled bank & save account
High bonus interest savings account designed for savers 36 years old and over bundled with the Everyday Account.
Up to
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On balances up to $250,000 when monthly criteria is met