Compare and choose the best savings account for you

Whether you’re saving for something special, saving for a rainy day or teaching a little one to save – here's our best high interest savings accounts to help you reach your goals.

BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $50,000 IF BONUS CRITERIA MET**

Future Saver Account

Our high-interest saver accounts for 14 to 35 year olds, with easy-to-earn bonus interest and no monthly account keeping fees.

  • Access your money whenever you need, exclusively on the all-new myBOQ mobile app. Please note: As an app-exclusive account, it cannot be accessed via Internet Banking.
  • Let your high interest savings soar higher. Super charge your savings with easy to earn Bonus Interest.
  • Simply deposit $1,000 into your linked Everyday Account from an external bank account (cash and cheque deposits excluded) and make 5 or more eligible transactions (settled, not pending).
  • Stay on track and manager your savings. Set up savings goals to keep you on track with your targets.
  • Switch on Round Ups to add to your savings without even thinking about it! We'll round each of your transactions to the nearest dollar and put the extra right into your savings.

BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $250,000 IF BONUS CRITERIA MET**

Smart Saver Account

Our high-interest saving accounts for customers 36 years or older, with easy-to-earn bonus interest and no monthly account keeping fees.

  • Access your money whenever you need, exclusively on the all-new myBOQ mobile app. Please note: As an app-exclusive account, it cannot be accessed via Internet Banking.
  • Let your high interest savings soar higher. Supercharge your savings with easy to earn Bonus Interest.
  • Simply deposit $1,000 into your linked Everyday Account from an external bank account (cash and cheque deposits excluded) and make 5 or more eligible transactions (settled, not pending).
  • Stay on track and manage your savings. Set up savings goals to keep you on track with your targets.
  • Switch on Round Ups to add to your savings without even thinking about it! We’ll round each of your transactions to the nearest dollar and put the extra right into your savings.

Fixed term interest rates and no account fees

Term Deposits

Rewarding you with higher interest on balances over $5,000. Enjoy the security of a fixed rate for your nominated term.

We’re receiving a high volume of online applications at the moment, so it might take us a little longer than usual to get your account ready for you. Please be assured we’ll process your request as quickly as possible.

  • Flexible terms from just 1 month
  • Minimum investment of just $1,000
  • Choose how and when you receive interest payments

GET A GREAT, ONGOING INTEREST RATE FOR BALANCES UP TO $5 MILLION

Simple Saver Account

No hoops and no fuss when you just want to save. Simply sit back and watch your savings grow.

  • Access your money whenever you need, exclusively on the all-new myBOQ mobile app. Please note: As an app-exclusive account, it cannot be accessed via Internet Banking.
  • No monthly account keeping fees.
  • Open up to 9 Simple Saver accounts and keep on track with all your goals
  • Open a Simple Saver account directly within the myBOQ app and start banking with BOQ today!

GET REWARDED WITH BONUS INTEREST

Kids Savings Account

It’s never too early to teach kids to save! Encourage the right saving behaviour for children under 14 with a children's savings account held in their name. Make one withdrawal a month and still earn Bonus Interest variable rate.

  • Start earning high interest from the first dollar
  • Deposit only access for the linked child
  • Manage the account on your internet banking

Savings account FAQs

  • 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, in the event of an emergency, or towards a goal like a holiday, new laptop or house deposit. 

  • How to open a savings account?

    To open a Future Saver, Smart Saver or Simple Saver account with BOQ, all you need to do is download the myBOQ app and choose which savings account you’d like! You’ll need your Australian phone number and Australian driver’s license or passport. After that, we’ll take it from there. To find out more about term deposits, click here to view our rates and apply online.

  • How to save money?

    A great way to get started with saving your money is finding the right savings account. Look for savings accounts with high interest and minimal fees, which will allow you to earn and boost your savings. Creating a budgeting plan to manage your expenses is another great way to save money, as it will give you an idea on what your biggest expenses are and which areas you can cut down on. Want to learn more? Check out our 10 everyday saving tips article.

Compare savings accounts

Compare our savings account and term deposits side by side   Compare savings accounts

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