Fast Track Starter Account
A great way to start saving for 14-24 year olds
At a glance
3.15
%P.A.
^^
Bonus Interest on balances up to $10,000 when Bonus Criteria is met*
ONGOING
Bonus Interest variable rate when you meet the Bonus Criteria*
$
0
Account maintenance fees
We're award winning
Awarded Mozo’s Best New Savings Account of 2019
Winner, winner
Our Fast Track Starter Account is literally a winner. We're proud to announce our Fast Track Starter Account was recently awarded the 2019 Mozo Experts Choice Award for Best New Savings Account making it the ideal account for 14-25 year olds looking to save.
Your Bonus Interest
Here's how you can earn your Bonus Interest with our best high interest savings account:
- Deposit a minimum of $200 into your linked Day2Day Plus Account each month from an external source (like your pay)
- Earn Bonus Interest 3.15% p.a. up to $10,000 in the following month on your Fast Track Starter Account balances
- For balances between $10,000 and $250,000 earn Bonus Interest 2.15%p.a. and for balances over $250,000 the Base Rate of 0.35% p.a. applies
- Your account will earn the Base Rate in the month that you open it and any month you don't meet the Bonus Criteria
-
Show me how it works!
Here's an example of how it works currently...
Why Choose the Fast Track Starter Account
No matter how much you have in your savings, earn interest to boost your balance.
Ongoing Bonus Interest
Earn Bonus Interest variable rate by depositing $200 a month (like your pay) to your linked Day2Day Plus Account*
No minimum account balance
Earn Bonus Interest on your savings, with no minimum balance required.
Unlimited transfers
Make unlimited online transfers to your linked Day2Day Plus Account while still earning Bonus Interest*
Interest rates
Interest is calculated daily on a stepped basis and paid monthly on the first day of the month.
| Balance | Base + Bonus Interest variable rate % p.a.* Applies when $200 is deposited to your linked Day2Day Plus Account, in the prior month |
Base variable rate % p.a. |
|---|---|---|
| $1 to $10,000 | 3.15 |
0.35 |
| $10,000.01 to $250,000 | 2.15 |
0.35 |
- Interest rates are variable rates and are subject to change at any time without notice.
Ready to apply?
Apply for your Fast Track Starter Account and linked Day2Day Plus Account online, in branch or give us a call.
To apply for a Fast Track Account, you must be:
- A citizen or permanent resident of Australia
- Aged between 14 and 24 years (Fast Track Starter) or 25 years or over (Fast Track Saver)
- Applying for a personal account and not in the name of a business or trust. There should be no more than two account holders for this account
Submit your application
Linked to your Day2Day Plus Transaction Account
Benefit from the Day2Day Plus Account which will be opened and linked to your Fast Track Starter Account when you apply.
Everyday banking with no monthly fees
Day2Day Plus Account®
The Day2Day Plus Account is the everyday bank account that frees you to live the way you want, each and every day.
- Easily manage your daily transactions and bills through internet banking
- Unlimited deposits, withdrawals, BOQ balance enquiries, funds transfer and BPAY transactions
- Contactless payments and secure online purchases through Visa Debit
Over 25? Check out our Fast Track Saver Account
Save more with a higher interest rate with our Fast Track Saver Account, for customers aged 25 and over.
BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $250,000 IF BONUS CRITERIA MET7
Fast Track Saver Account
Fast track your savings with a high interest savings account that rewards you for using your linked Day2Day Plus Account.
- Earn ongoing Bonus Interest variable rate by making monthly deposits of $1,000 or more into your linked Day2Day Plus Account
- From 1 February 2020, you will also be required to make 5 eligible transactions each month from your linked Day2Day Plus Account which includes settled Visa Debit Card & eftpos card purchases and direct debits^.
Fees
At BOQ, we keep our fees to a minimum. Any fees we do have we’ll show you up front so there are no surprises.
| Features | Applicable Fees |
|---|---|
| Account Maintenance Fee | Nil |
A full list of fees can be found in our Fees and Charges Guide below.
We can also help with:
You can earn
1.40 % P.A.^^
Including 1.20% Bonus Interest variable rate + 0.20% variable Base Rate13
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
Save with lower interest rates
Low Rate Visa Credit Card
Why pay high interest rates? With our Low Rate Credit Card, you can save straight away with our balance transfer offer18
- Low interest rate on purchases
- 0% p.a. on balance transfers for the first 14 months, reverting to the cash advance rate thereafter18
- Low annual card fee of $55
