The Smart Saver, our high-interest saver account for customers 36+ years of age

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.

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 Smart 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. 

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.

Interest is calculated on your Smart 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:

Smart 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 Smart Saver Accounts that are held in the same name. The amount of interest you will earn is determined by the balance in your account.

• To activate bonus interest on your Smart 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:

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

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

Interest will be paid into the account it was earned in. If the sum of funds across all Smart Saver Accounts held in the same name exceeds the first interest rate tier, the funds above that amount will earn interest at the second interest Tier up to $5M.

No. myBOQ Smart 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. 

You can open an account directly from the myBOQ app or by completing the online application form. You’ll need your Australian phone number and Australian driver’s license or Australian passport.