Open your Simple Saver Account

Apply for a Simple Saver Account

Apply online

 

Apply now

Scan to open a Simple Saver Account

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

Why choose a
Simple Saver
Account

Looking for a no-fuss, app-based savings account? This one's a breeze.

Grow your savings with Simple Saver

Grow your savings with no minimum deposit

Our Simple Saver account, available on the myBOQ app, comes with a great ongoing rate, without the fuss and no minimum deposit

Easy banking with Simple Saver

Hassle free simple savings with no hoops

Simple Saver savings accounts are a standalone savings accounts on the myBOQ app. There’s no linked transaction account and no monthly bonus interest criteria.

Earn interest with Simple Saver

Great savings account rates

The Simple Saver account gives you access to a competitive savings rate of 4.85% p.a. interest for balances all the way up to $5 million.

Manage your finances with multiple accounts

Open up to 9 savings accounts

You can personalise up to 9 simple savings accounts on your myBOQ app. Tailor each account to different savings objectives and watch your goals become reality.

Government Guarantee

Your money's safe and secure

The Australian Government's Financial Claims Scheme guarantees the money in your online savings accounts (up to $250,000).# 

Simple Saver fees

No monthly account keeping fees

You don’t want account fees, so we won’t charge them. That’s right! Keep all your cash and grow your savings a little faster with no monthly account keeping fees. 

Enjoy next-level banking with myBOQ

Simple Saver accounts are available on the myBOQ app - designed to make managing your everyday banking and savings accounts simple.

Learn more about mobile banking with myBOQ

Budget your money with Simple Saver

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.

Track your bills with Simple Saver

Track your bills

Never miss a payment. If you're paying bills from your Simple Saver account, we’ll give you a heads up when they're due, so you can make sure you’ve got the funds ready and waiting.

Use live chat in the myBOQ app

Live in-app chat

We’re never far away. Get your questions sorted in our dedicated in-app customer service chat.

Round up your savings with Simple Saver

Grow your money with round ups

When you have an Everyday Account you can easily grow your savings with our round up feature. Simply round up your debit card transactions to the nearest dollar and we'll put the extra change straight into your nominated Simple Saver account~.

Simple Saver on the myBOQ app

Things you should know

  • myBOQ is our mobile app with exclusive app-only accounts like Simple Saver, Future Saver, Smart Saver and Everyday Account. These online savings and everday transaction accounts are designed to provide a seamless mobile banking experience. That means you can’t access app-only accounts via the BOQ Classic Online Banking portal.
  • If you hold other bank accounts with us that you access via Online Banking, you won’t be able to access those account within the myBOQ app.

Simple Saver Interest rates

Balances up to Base Rate % p.a. Bonus Rate % p.a. Highest Rate % p.a.
$0 to $5,000,000 4.85% 0% 4.85%
$5,000,000 + 0.05% N/A 0.05%

 

Compare our high interest savings accounts

myBOQ has a great range of savings accounts and interest rates, but which one’s best for you? Whether you're looking for a high-interest rate, flexible terms, or additional perks, we have a savings account to suit your needs. Check out all the options to see which one is right for you.

Compare savings accounts

Fees and Charges

$ 0 
No monthly account keeping fees
$ 0 
No minimum deposit or bonus interest criteria

Ready for your new savings account?
It's easy - start here.

  1. Grab your phone and scan the QR code
  2. Download the myBOQ app
  3. Apply for your savings account
Scan to open a Simple Saver Account

And if you'd rather apply for your accounts online, that's easy too.

Get my account online

Before you apply for the Simple Saver

You will need:

  • To be aged over 14 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 14.0+ or Android 8.0+.

Important Documents

  • How many online savings accounts should I have?

    The number of online savings accounts you should have depends on your financial goals and preferences. Having multiple savings accounts can help you manage various savings gaols separately, such as emergency funds, vacation savings or mortgage payments.

    However, having too many accounts might become overwhelming to manage, so it’s important to find a balance that suits you. Ultimately, the right number of accounts is whatever allows you to effectively track your progress towards your goals, while maximising your savings potential.

    With a Simple Saver account, you can open up to 9 savings accounts on the myBOQ app to get your savings sorted. 

  • 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. 

    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’. 

  • How to set up a joint bank account?

    When you’re opening a new high interest savings account with us and you’d 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 open a savings account?

    You can open Simple Saver accounts directly from the myBOQ app or through the online application form on this page. You'll need your Australian phone number and Australian driver’s licence or Australian passport to get started.  

  • What savings account has no fees?

    We're proud to offer several no fee savings account options designed to help you grow your money without any hidden costs. Our Simple Saver, Future Saver, and Smart Saver accounts are all great options for fee-conscious savers.

    Whether you're saving for a rainy day, a future goal, or building your nest egg, explore our range of savings accounts for a hassle-free way to achieve your simple savings goals. 

  • Are there any bonus interest conditions on a Simple Saver account?

    Unlike our Future Saver and Smart Saver savings accounts, the Simple Saver has no monthly bonus interest criteria. 

  • How do I choose an online savings account?

    Choosing the right online savings account all depends on your financial needs and journey. Here are a few things to consider when exploring your options: 

    • Start by comparing online savings account interest rates to ensure you’re earning the most from your savings. 
    • Look out for any hidden fees or charges, including deposit criteria and minimum balance requirements, which could all impact your earnings.
    • Explore additional features or in-app tools that may help you to reach your savings goals faster. 
    • Prioritise safety and security, providing peace of mind for your savings. 

    By carefully considering these aspects, along with whether they align with your financial goals, you can confidently choose an online savings account that aligns with your needs. If you’re looking to compare savings accounts offered at BOQ, explore our range of savings account features.

  • What is the interest rate for an online savings account?

    Online savings account rates can vary depending on the bank and the type of account you choose. Remember to consider not only the interest rate but also any fees, accessibility, and additional features offered by the bank and type of account.

    By comparing options and finding the right balance, you can make the most of your savings and watch your money grow over time. At BOQ, we offer competitive savings account interest rates to help you grow your money over time. 

  • How is interest calculated?

    Your Simple Saver account has consistent interest rates across the board. There are no tiers or stepped rates to worry about, simply one great rate of 4.85% per annum right up to $5 million. 

    We calculate interest on your Future Saver 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: 

    Simple Saver Account daily closing balance x interest rate (per annum)/
    Number of days in the year (365 or 366 days)

    Interest is paid monthly 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. 

  • If I already have a WebSavings or Bonus Interest Savings Account, can I access the myBOQ app?

    To access the myBOQ app, you'll need to open a new Simple Saver savings account. 

    That's why accounts like WebSavings, Bonus Interest Savings, Premier Investment, Day2Day Plus, Fast Track Starter and Fast Track Saver are available through our Classic Online Banking system but not in the myBOQ app. 

  • Can I access this account using desktop internet banking?

    Simple Saver online savings accounts are exclusively managed via the myBOQ app. Easily pay bills, transfer money and check your accounts all from your mobile device.

    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.

  • Do you have more Simple Saver account questions?

    For more everyday transaction account and saving account FAQs.

    See all account FAQs

Explore more savings and transaction accounts:

Everyday Account
Monthly account keeping fee
$0

Everyday banking with no monthly account keeping fees

Everyday Account

Our simple, intuitive everyday transaction account, made even better for you with user-friendly features that help you make the most of your money.

  • Access your money whenever you need, exclusively on myBOQ mobile app. Please note: As an app-exclusive account, it cannot be accessed via Internet Banking.
  • Managing your money has never been easier, with in-app spend tracking to help you budget better and bill tracker to give you a heads up when bills are due.
  • Fast, easy payments. Pay or be paid instantly with PayID.
  • Open an Everyday Account directly within the myBOQ app and start banking with BOQ today!
Learn about our Everyday Account Apply now
Future Saver Account
You can earn
5.50 %P.A. ^^
On deposit balances up to $50,000

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

Future Saver Account

Our highest interest savings account for 14 to 35-year-olds. Meet the simple criteria to earn the bonus interest and watch your savings soar.

  • Available on the myBOQ app
  • No monthly account fees
  • Comes linked with an Everyday Transaction Account
  • Earn bonus interest each month when you meet the criteria**
Learn about Future Saver Apply now