Term Deposits
Watch your money grow with our high interest term deposit account
Apply nowTo apply over the phone, call us on 1300 55 72 72
Our Top Rates
1.50 %P.A.
9 month fixed term deposit from $5,000
1.75 %P.A.
12 month fixed term deposit from $5,000
2.25 %P.A.
24 month fixed term deposit from $5,000
Our High Interest Term Deposits
Make the most of your savings with our high interest term deposit account, rewarding you with higher interest if you deposit more than $5,000.
Competitive interest rates
Earn higher interest if you deposit $5,000 or more
Flexible terms
Choose the length of your term, from just one month
Flexible interest payments
Choose how and when you receive interest payments – reinvest or transfer to another bank account
Keep track of your investment
Use internet or mobile banking to check your balance
Low investment amount
$1,000 minimum investment amount
Secure deposits
All deposits up to $250,000 are protected by the Federal Government’s deposit guarantee, so your savings are secure with us.#
Added BOQ Term Deposit benefits
- Easy reinvestment, with automatic rollover at maturity for your choice of term.
- Make deposits and withdrawals to your account during the 7 day renewal grace period, which commences on the day your Term Deposit matures.
- Arrange to reinvest your interest payments or transfer your interest to another account.
- Access your funds prior to maturity by providing 31 days prior notice to redeem your account early (an interest adjustment and early payout fee apply).
Term Deposit interest rates
Interest is calculated on the daily closing balance of your account and paid monthly or end of term. For terms greater than 12 months, we’ll pay your interest annually and at the end of the term.
Interest Rates
| Term in months | Term in Days | $1,000 to $4,999 % p.a. | $5,000 to $249,999 % p.a. |
|---|---|---|---|
Less than 1 |
1 - 27 |
0.05 | 0.05 |
1 less than 2 |
28 - 58 |
0.05 | 0.05* |
2 less than 3 |
59 - 88 |
0.08 | 0.08 |
3 less than 4 |
89 - 119 |
0.10 | 0.15* |
4 less than 5 |
120 - 149 |
0.10 | 0.10* |
5 less than 6 |
150 - 180 |
0.10 | 0.10* |
6 less than 7 |
181 - 211 |
0.10 | 0.75* |
7 less than 8 |
212 - 241 |
0.10 | 0.20* |
8 less than 9 |
242 - 272 |
0.10 | 0.20* |
9 less than 10 |
273 - 302 |
0.15 | 1.50* |
10 less than 11 |
303 - 333 |
0.15 | 0.20* |
11 less than 12 |
334 - 364 |
0.15 | 0.20* |
12 less than 24 |
365 - 729 |
0.15 | 1.75* |
24 less than 36 |
730 - 1094 |
0.15 | 2.25* |
36 less than 48 |
1095 - 1459 |
0.15 | 2.50* |
48 less than 60 |
1460 - 1826 |
0.15 | 2.50* |
- For pricing of term deposits of $250,000 or greater give us a call on 1300 55 72 72 or visit your local BOQ branch, we’ll be happy to help.
- For monthly interest payments, the applicable interest rate will be the rate quoted above, less 0.10%, with a minimum rate of 0.05% p.a
- Interest rates are effective 13/05/2022. Interest Rates on offer may change at any time without notice.
- Special term deposit rates are indicated above in bold and with an “*”. Bonus interest does not apply to special term deposit rates. Bonus interest offers are not available in conjunction with one another or with any other offer.
Term Deposit Financial Hardship Assistance
If you are concerned or worried about your financial position and feel that you are struggling to meet your financial commitments and would like access to your term deposit funds before the account maturity date, then we might be able to help. For further information, please refer to Financial Hardship Assistance.
Fees
At BOQ, we keep our fees to a minimum. Any fees we do have we’ll show you up front so there are no surprises.
| Features | Applicable Fees |
|---|---|
Early payout fee |
$30.00 |
Deposits and withdrawals only available during renewal grace period. Other fees and charges (including government charges) may be payable.
An interest adjustment is also applicable for early redemption.
Minimum balance is $1,000.
A full list of fees can be found in the applicable Fees and Charges Guide below.
Ready to apply for a Term Deposit?
Applying for a high interest term deposit is simple. You can apply online, in branch or give us a call.
To apply for a Term Deposit Account online, you must be:
- A citizen or permanent resident of Australia
- Eighteen (18) years of age or over
- Applying for a personal account and not in the name of a business or trust. There should be no more than two account holders for this account
Other ways to apply:
If you have saved your application:
Are you a business, trust or SMSF?
Please visit your nearest branch
Important information
For important information on the Term Deposits, view the Terms and Conditions.
See our other savings accounts
BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $250,000 IF BONUS CRITERIA MET**
Smart Saver Account
Our high-interest saver accounts for customers 36 years or older, with easy-to-earn bonus interest and no monthly account keeping fees.
- Access your money whenever you need on the all-new myBOQ mobile app
- Supercharge your savings with easy to earn Bonus Interest.
- Simply deposit $1,000 into your linked Everyday Account and make 5 or more eligible transactions.
- 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!
- Open a Smart Saver account directly within the myBOQ app and start banking with BOQ today!
Everyday banking with no monthly 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 on the all-new myBOQ mobile app
- 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!
