Open your Future Saver account

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Apply online

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Scan the QR code to download the myBOQ app and get started

Why choose the Future Saver account?

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High interest savings

Enjoy bonus interest* each month when you meet the criteria. Simply deposit a minimum of $1,000 into your linked Everyday Account from an external bank account (cash and cheques excluded) and make 5 eligible transactions to save faster!

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Open up to 9 accounts

Make every cent count. Open multiple Future Saver accounts to manage your savings across multiple goals. 

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No monthly fees

We've made monthly account keeping fees a thing of the past. We want your savings to grow.

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Safe and secure

Feel safe knowing your savings are guaranteed up to $250,000 by the Australian Government's Financial Claims Scheme#.

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Mobile banking made better

A Future Saver savings account with BOQ comes with the myBOQ app - the banking app designed to make your everyday banking easier.

Learn more about mobile banking with myBOQ

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Better at budgeting

Manage your money easily. Set spending budgets on specific categories like groceries, bills and more. Get personalised insights and real-time alerts.

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Track your bills

Never miss a payment. We’ll give you a heads up when your bills are due, so you can make sure you’ve got the funds available.

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Live in-app chat

We’re never far away with our dedicated in-app customer service chat.

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Round ups

Grow your savings whenever you spend. Round up your debit card transactions to the nearest dollar and we'll put the extra change straight into your nominated Future Saver account~

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To download the myBOQ app search 'myBOQ' in the app store. 

Things you should know

  • myBOQ is a new mobile app that features exclusive 'app-only' accounts and transaction types that cannot be accessed via Internet Banking.
  • If you're a BOQ account holder with existing accounts that you access via Internet Banking, please note these accounts aren't accessible from the myBOQ app.

Ready to apply for your Future Saver account?

Desktop computer

Apply online

Smart phone

Scan the QR code to download the myBOQ app and get started

Our highest savings account interest rate, with no fees

Balance up to         Base + Bonus Interest variable rate % p.a.* Base variable rate % p.a.
$50,000 5.40% 0.05%
$50,001 to $250,000 3.00% 0.05%
$250,001 +   - 0.05%

Interest rates are variable rates and are subject to change at any time without notice. Interest is calculated daily on a stepped basis and paid monthly on the first day of the following month.

Here's how you can score our great savings rate

Here's how you can earn your Bonus Interest (Bonus Criteria) with our youth savings account:

Number one

$1,000 minimum monthly deposit

Transfer from an external bank account a minimum of $1,000 each month (like your salary or wages) into your linked Everyday Account. Cash and cheque deposits are not counted.

Number two

Make 5 or more eligible transactions

From your linked Everyday Account each month. Eligible transactions include direct debit payments, ATM withdrawals, BPAY payments or purchases with your Visa Debit Card. Transactions must be settled to count.

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Earn bonus interest

Bonus interest will automatically be deposited into your account the following month once you've met the Bonus Criteria*

Note: To help you get started on reaching your savings goals, you'll start earning Bonus Interest straight away after opening your Future Saver Account (for new customers only). To continue to earn Bonus Interest each month, you'll need to meet the above Bonus Criteria.

If you're aged between 14-17 years of age, we'll waive the Bonus Criteria so you'll earn Bonus Interest every month on your Future Saver balance as shown in the table below.

No Fees and No Charges

$ 0 
No monthly fees
$ 0 
No transaction fees within australia

Open your Future Saver account now!

  1. Scan the QR code to download the app
  2. Enter your ID and personal details
  3. Start using your new accounts

Or apply online today

Apply online

Check your eligibility

You will need:

  • To be aged between 14 years old and 35 years old
  • To be the account holder (applications cannot be completed and submitted by an Executor/Administrator/Power of Attorney/ Legal representative).
  • An Australian residential address
  • An Australian drivers licence or Australian passport
  • An Australian mobile number
  • A smartphone that supports iOS 12.0+ or Android 8.0+.

Future Saver FAQs

  • How is interest calculated?

    Interest is calculated on your Future Saver Account/s from the day funds are credited to your account. It is 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)/
    Number of days in the year (365 or 366 days)

    We will credit interest to your 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. 

    Tiered interest is calculated and paid on the total balance of all Future Saver Accounts that are held in the same name. The amount of interest you will earn is determined by the balance in your account.

  • If I already have a Fast Track Saver account, can I access the myBOQ app?

    No, any BOQ banking products that are accessible via BOQ internet banking such as Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account are not available in the myBOQ app.

  • Can I open a joint account?

    Yes, accounts can be opened with 2 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. 

    Just so you know, if the person you are opening the account with is a new myBOQ customer, they will receive a unique application ID and an invite prompting them to download the myBOQ app to get started.

    If they are an existing myBOQ customer, they can apply using the application ID in the myBOQ app. This is done in the account section by selecting ‘Sign up for a new account’ and then ‘Join an existing application’.  

    If you hold both joint and individual Future Saver Accounts, you will need to meet the bonus interest criteria separately for each, on the respective linked Everyday Accounts; to activate the bonus interest on each.

    The tiered interest rate is applied to joint and single accounts separately.

  • How to set up a joint bank account?

    When you’re opening a new high interest savings account with us and you would like it to be a joint account, simply let us know who you would like to open the account with. We’ll then send them details on what they need to do to get started.

  • How do I qualify for bonus interest?
    • To activate bonus interest on your Future Saver Account/s, you will need to meet bonus interest criteria each month to qualify for bonus interest the following month. This is outlined in the diagram and table below:  

    Age bonus interest criteria

    Age Monthly criteria
    14-17 Years No bonus interest criteria to unlock bonus interest.
    18+

    Deposit $1000 from an external account into your linked Everyday Account and make 5 eligible transactions that clear within the month.

    • An external account is any Australian non-myBOQ account.
    • A deposit from an external account includes wages paid by an employer from an Australian account. Cash and cheque deposits or transfers from international accounts are not eligible deposits.
    • Eligible deposits must be made into your Everyday Account (not your Future Saver Account).
    • Eligible transactions include direct debit payments, ATM withdrawals (not deposits), BPAY payments, and purchases with your Visa Debit Card. Bank transfers are not eligible transactions.

    Interest is calculated at a tiered rate on the total balance of all Future Saver Accounts that are held in the same name. Interest will be paid into the account it was earned in.

    Account Tiered interest balance bands
    Future Saver

    $0 to $50,000

    $50,001 to $250,000

    $250,001 to $5M

  • Can I use Internet Banking to manage my Future Saver?

    No. myBOQ Future Saver Accounts are only available through the myBOQ mobile app, and you cannot access this on a desktop or laptop computer. Any BOQ banking products that are accessible via BOQ internet banking such as Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account are not available in the myBOQ app.

  • How do I open a savings account?

    You can open an account directly from the myBOQ app or by completing the online application form. You’ll need your Australian residential address, Australian phone number & Australian drivers licence or passport.

  • What happens 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 the month of 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 of a Future Saver Account 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 rate that apply Smart Saver Accounts will apply to your converted Smart Saver Account; and
    • the new interest rate applicable to your Smart Saver Account will be applied to your balance from the first day of the month after the month in which you (or the eldest joint account holder) turned 36.

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