Open your Simple Saver account

Desktop computer application

Apply online

Apply using a QR code

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

Why choose the Simple Saver?

Use multiple accounts

Open up to 9 online savings accounts

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

Savings

Grow your savings with no minimum deposit

Simple Savers enjoy an online savings account with a great ongoing rate with no need to make a monthly deposit, or meet a minimum balance criteria. Just sit back and watch your savings grow!

Government Guarantee

Safe and secure

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

Fees

No monthly fees

With your online savings account, we’re committed to helping you save. That’s why we've made monthly account keeping fees a thing of the past, that way your savings can remain yours. 

Manage your finances

Mobile banking made better

A Simple Saver savings account is accessible via the myBOQ app - the banking app designed to make your everyday banking easier.

Learn more about mobile banking with myBOQ

Budgeting

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.

Bill tracker

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.

chat to someone

Live in-app chat

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

Extra savings

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 one of your savings accounts~

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?

Desktop computer application

Apply online

Apply using a QR code

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

A simply great savings rate for our Simple Savers 

Simple Saver Account interest rates

Interest rate % p.a.

up to $1M  

Interest rate % p.a.

over $1M, up to $5M

Interest rate % p.a.

over $5M  

4.85 4.85 0.05
Important Information
  • This offer can be amended and/or withdrawn by BOQ at any time without notice.

Fees and Charges

$ 0 
No monthly fees*
$ 0 
No transaction fees within australia*
$ 0 
Minimum deposit or bonus criteria

Open your Simple 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 over 14
  • 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+.

Compare our savings accounts 

Looking for a better savings rate? Check out our range of savings accounts to see which one is right for you.

Compare savings accounts

Simple Saver FAQs

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

    No, any BOQ banking products that are accessible via BOQ internet banking such as WebSavings Account, Bonus Interest Savings Account, Premier Investment Account, 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 customers, 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’. 

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

  • How to set up a joint bank account?

    During the application process, you’ll be asked who the account is for. Select 'Me and someone else' to open a joint application. 

    Once you’ve completed your application, we’ll send the other party a message with details on how 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’. 

  • How is interest calculated?

    Interest is calculated on your Simple 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:

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

  • How many savings accounts can I open with Simple Saver?

    You can open up to nine Simple Saver Accounts to help keep track of different savings goals.

  • Can I access this account using desktop Internet Banking?

    No, myBOQ Simple 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 will not be available within the myBOQ app.

    Easily set savings goals and check your account balances from your compatible mobile device or tablet.  

  • How do I open a savings account?

    You can open an account directly from the myBOQ app or by completing the online application form.

  •  

    For more Simple Saver Account FAQs, click on the button below.

    Help & Support FAQs

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  • 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.
  • 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!

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.