Open your
Smart Saver
Account

Apply for a Smart Saver Account

Apply online

 

Apply now

Scan to open a Smart Saver Account

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

Why choose a
Smart Saver Account?

Save faster with a bonus interest rate on savings account balances up to $250,000** 

Earn bonus interest with a Smart Saver Account

High interest savings

You'll earn up to 4.90% p.a. each month when you deposit a minimum of $1,000 into your linked Everyday Account directly from an external bank account and make 5 eligible payments, withdrawals or purchases from your linked Everyday Account.**

Bonus interest on the Smart Saver Account

Balances up to $250,000

Enjoy our great bonus interest rate for balances up to $250,000 (across all your Smart Saver accounts.) when you meet the bonus interest criteria.**

Smart 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 on your Smart Saver account.

Government Guarantee

Safe and secure savings

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

Track your savings with Smart Saver on the myBOQ app

Plus, a linked transaction account to make everyday spending easy

Visa Debit card

Our Smart Saver Account comes automatically linked with our Everyday Account, so you can spend smarter and save faster.

Win the ultimate Singapore Race Weekend

Thanks to Visa, new and existing BOQ Everyday Account customers have the chance to win an exclusive Singapore Race Weekend package (3-6 October 2025) to see the Visa Cash App Racing Bulls in action.4

Prize

Prize inclusions

  • 2 return economy airfares from Australia to Singapore
  • 3 nights accommodation at a 5-star hotel
  • 2 day hospitality package for Qualifying Day and Race Day
  • Branded Visa Cash App Racing Bulls team gift package
  • 1 day Singapore city tour
Visa card

How to enter

  1. If you don’t already have one, open a new BOQ Smart Saver account linked with an Everyday Account (or you can choose to open a standalone Everyday Account).
  2. Using the linked Visa Debit Card, make an eligible, settled transaction of $60 or more to earn one entry into the competition between 5 May – 31 July 2025. 
  3. Entries are unlimited, so the more transactions of $60 or more that you make, the more chances you have to win.

The Everyday Account is only available on the myBOQ app, and cannot be accessed through Internet Banking. 

Open now Find out more

 

 

Terms and conditions apply, for any questions read the competitions FAQs

Enjoy next-level banking with myBOQ

Our Smart Saver savings account is a high interest saving account (linked with an Everyday Account) that live on the myBOQ app , designed to make your day-to-day banking easier.

Learn more about mobile banking with myBOQ

Budget your money with Smart 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 Smart Saver

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.

Use live chat in the myBOQ app

Live in-app chat

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

Round up your savings with Smart 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 Smart Saver account~. 

Smart Saver on the myBOQ app

Things you should know

  • myBOQ is our mobile app with exclusive app-only accounts like Smart Saver and your Everyday Account. That means you can't access app-only accounts via Online Banking.
  • If you hold other bank accounts with us that you access via Online Banking, you won't be able to get into those accounts within the myBOQ app.

 

High bonus interest rates to go with your Smart Saver 

Balances up to Base Rate % p.a. Bonus Rate % p.a. Highest Rate % p.a.**
$250,000 0.05 4.85 4.90%
$250,000 + 0.05 0.00 0.05%

 

  • Bonus Interest Rate will only apply for each calendar month when the Bonus Interest Criteria is met in the previous calendar month. If the Bonus Criteria is not met, your account will earn the Base Rate.**
  • Interest rates are variable 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. Bonus interest is only earned when you meet the bonus interest criteria**.

How to earn bonus interest on our high interest savings
account

It's easy to earn your monthly bonus interest payment. Here's how:

Start earning bonus interest with Smart Saver

Deposit at least $1,000 each month into your linked Everyday Account.

Transfer a minimum of $1,000 each month from an external Australian bank account. Getting your salary or wages paid directly into the transaction account is an easy way to do that. (These deposits must be electronic, so cash and cheque deposits won't count.)

Use your Everyday Account to earn bonus interest

Make 5 or more eligible transactions from your linked Everyday Account

Use your transaction account at least 5 times each month. Eligible transactions include direct debit payments, ATM withdrawals, BPAY payments or purchases with your Visa Debit Card. (Transactions must be settled before they’ll count.)

Earn bonus interest with a Smart Saver Account

Earn bonus interest

Bonus interest will automatically be deposited into your savings account the following month once you've met the bonus interest criteria.*

Earn bonus interest with Smart Saver

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

Fees and Charges

$ 0 
No monthly account keeping fees
$ 0 
No transaction fees within Australia *^

Please view the myBOQ Deposit Account Interest Rates, Transaction Limits, Fees and Charges document for more details.

Ready for a 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 Smart 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 Smart Saver

You will need:

  • To be aged 36 and over
  • 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

  • What is a savings account?

    A savings account is a bank account where you can deposit your money and earn interest. It is a great way to save money, for a potential  emergency, or towards a goal like a holiday, new laptop or house deposit.

    The type of savings account you need will depend on your savings goals and other lifestyle factors so you should compare savings accounts to find the best one for you. 

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

    Open up to 9 Smart Saver Accounts to help you 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 of $250,000, the funds above that amount will earn interest at the second interest Tier up to $5M. 

    Balance up to         Base + Bonus Interest variable rate % p.a.* Base variable rate % p.a.
    $250,000 4.90% 0.05%
    $250,001 +   - 0.05%
  • 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’. 

    If you hold both joint and individual Smart Saver Accounts, you'll need to meet the bonus interest criteria separately for each, on the respective linked Everyday Accounts, to activate the bonus interest on each savings account. 

    We apply the Tiered interest rate 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’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 high interest savings account?

    You can open Smart 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 license or Australian passport to get started. 

  • How is savings interest calculated?

    We calculate the interest for Smart Saver Account/s from the day funds are credited to your account. It's 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 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.

     

    Account Tiered interest balance bands
    Smart Saver

    $0 to $250,000

    $250,001 to $5M
  • What is Tiered interest?

    We pay different levels of interest according to the amount of money you have in your savings account. For example, in Smart Saver the first tier is $0 to $250,000 and the second tier is $250,000 to $5M. 

    Balance up to         Base + Bonus Interest variable rate % p.a.* Base variable rate % p.a.
    $250,000 4.90% 0.05%
    $250,001 +   - 0.05%
  • How do I qualify for bonus interest?
    • 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. 
    Earn bonus interest with Smart Saver

     

    Age Monthly criteria
    14-17 Years No monthly 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 Smart 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 Smart 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
    Smart Saver

    $0 to $250,000

    $250,001 to $5M
  • Can I use Online Banking to manage my Smart Saver?

    No, myBOQ Smart Saver accounts can only be used through the myBOQ mobile app. You can't access the app on a desktop or laptop computer.

    You can access 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. 

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

    No. The myBOQ app works on a different system. That's why BOQ banking products such as Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account are available through Online Banking but not in the myBOQ app.

    Apply for a Smart saver here to access the myBOQ app.

  • Do you have more Smart Saver 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
Simple Saver Account
You can earn
4.90 %p.a.
Including 0.35% additional interest rate + 4.55% standard variable rate1,2

GET A GREAT, ONGOING INTEREST RATE FOR BALANCES UP TO $5 MILLION

Simple Saver Account

No hoops and no fuss when you just want to save. Simply sit back and watch your savings grow.

  • Available on the myBOQ app
  • No monthly account fees
  • Grow your savings with no minimum deposit
  • Simply sit back and watch your savings grow
Learn about Simple Saver Apply now