Bonus Interest Savings Account
Earn bonus interest with our interest earning savings account
Earn bonus interest with our interest earning savings account
BOQ has introduced a new savings account with great interest rates available through the myBOQ app. Check out the Simple Saver Account to learn more about all the new features available to help you bank better with BOQ.
Customers who currently hold a Bonus Interest Savings Account can continue to access their account via Internet Banking, or through BOQ branches.
Whether you're saving for a new purchase, a house deposit, a new baby or something else, our Bonus Interest Savings Account will help you reach your savings goal faster.
Interest is calculated daily and paid monthly^.
|Balance||Variable Base interest rate % p.a.||Variable Base + Bonus interest rate % p.a.*|
|$1 to $4,999||0.05||0.25 (base rate + 0.20% p.a. bonus interest)|
|$5,000 to $49,999||0.05||0.25 (base rate + 0.20% p.a. bonus interest)|
|$50,000 and over||0.05||0.25 (base rate + 0.20% p.a. bonus interest)|
Bonus interest will be paid in addition to the base rate if no more than one (1) withdrawal is made during a calendar month. Calculated daily and paid monthly^. Interest rates are calculated on a tiered basis.
|Minimum Monthly Balance||Nil|
|Account Maintenance Fee||Nil|
|Monthly Card Fee (Visa Debit)||Free|
|BOQ ATM/eftpos withdrawals/transfers||1 free then $0.65 each|
|Internet Banking Funds Transfer to your BOQ Account or BPAY||1 free then $0.30 each|
Single Pay Anyone
(Third party BOQ account or other financial institution transfer)
|Multi Payment||$1.50 for up to 10 payments then $0.19 for each additional transaction|
~ Other fees (including other bank ATM and International Transaction fees) and charges may be payable. Please view the Personal Banking Guide to Fees and Charges for more details.
For important information on the Bonus Interest Savings Account, view the Terms and Conditions.
With the launch of the myBOQ mobile app, we've created new and exciting products to empower customers to manage their money and achieve their financial goals. The Simple Saver Account is our savings account for customers looking for great rates, is feature packed, and designed on a new mobile banking platform that will better serve customers with features like Savings Insights, Budget Tracker and more.
Whilst we are no longer accepting online applications for the Bonus Interest Savings Account, customers can visit their preferred BOQ branch to discuss their suitability in opening an account. Existing BOQ customers wanting to open a Bonus Interest Savings Account can also do so through Internet Banking or at their preferred BOQ branch.
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.
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.
BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $50,000 IF BONUS CRITERIA MET**
Our high-interest saver accounts for 14 to 35 year olds, with easy-to-earn bonus interest and no monthly account keeping fees.
~Fees may apply for transactions through other Bank ATMs and International Transactions using your Visa Debit card or credit card to access your account.
*A Bonus Interest variable rate will be paid in addition to the Base Rate if no more than one (1) withdrawal is made during a calendar month.
^For the purposes of interest payments, a “month” commences on the last day of a month and concludes on the second last day of the following month.
Product available to personal customers only.
# Under the Australian Government’s Financial Claims Scheme (FCS), certain deposits are protected up to a limit of $250,000 for each account holder at BOQ. The FCS limit of $250,000 applies to the total sum of all BOQ bank accounts, including accounts you hold with BOQ Branches, ME Bank, Virgin Money Australia and BOQ Specialist. Please visit this website for further information on the institutions and types of accounts covered.
Conditions, Criteria and Fees Apply. You should obtain and consider the relevant Product Disclosure Statement (PDS), terms and conditions and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. Full terms and conditions are available online or at any Bank of Queensland branch.
^^Interest rates are variable rates and are subject to change at any time without notice.
**A Bonus Interest variable rate will only be paid if Bonus Criteria are met in the previous month. Bonus Criteria will be met where both the following conditions are met:
- a minimum of $1,000 is credited to the linked Everyday Account in the prior calendar month. This excludes amounts transferred from another one of your BOQ Accounts including any Account you may be linked to as an Authorised User or joint Account holder;
- at least 5 direct debit transactions, ATM withdrawals, BPAY payments, or purchases of goods or services from a Merchant are made in the prior calendar month by using your eftpos Card or BOQ Visa Debit Card associated with your linked Everyday Account. This does not include cheques written or deposited, branch cash withdrawals, transfers or payments to any BOQ account or to a non-BOQ account via Internet Banking, in branch or at ATMs, transfer of funds to accounts held at an overseas bank, pending Visa Debit Card transactions and BOQ Credit Card transactions.
Transactions that are not settled (are pending) do not count towards the Bonus Criteria. If a transaction is made but settles in the following calendar month then the transaction will be counted in the following calendar month.
The variable Base Rate always applies in the first month after opening an account. In the first month, Bonus Criteria on the transaction account is measured from the time the Saver Account is opened, not the full calendar month even if the transaction account was already existing. Interest is calculated on a stepped basis and paid monthly on the first day of the following month. If Bonus Criteria conditions are not met the variable Base Rate only will apply.