BOQ

Bank of Queensland savings and bank accounts

Bank of Queensland (BOQ) is a QLD-based bank with several high interest savings account options for customers.

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Promoted
Savings account offer
Savings account offer
Promoted
2.50 % p.a.
max rate
0.05 % p.a.
standard variable rate
  • Maximum rate: 2.5% p.a.
  • Standard variable rate: 0.05% p.a.
  • Monthly fees: $0

Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)

Only available to those aged 14-24. Ongoing, variable 2.5% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.

Bank of Queensland savings accounts, bank accounts and term deposits

Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
2.5%
0.05%
2.45%
$0
Only available to those aged 14-24. Ongoing, variable 2.5% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Bank of Queensland Fast Track Saver Account
1.05%
0.05%
1%
$0
Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $1,000+ into the Day2Day account each month from an external account and make 5+ eligible transactions per month. Available on balances up to $250,000.
Bank of Queensland WebSavings Account
1%
0.05%
0.95%
$0
Introductory rate of 1% p.a. for 4 months, reverting to the standard rate of 0.05% p.a. for balances between $2,000 and $5,000,000.
Bank of Queensland Bonus Interest Savings Account
0.5%
0.05%
0.45%
$0
Ongoing, variable 0.5% p.a. when you only withdraw once per month. Available on the entire balance.
Bank of Queensland Superannuation Savings Account
0.7%
0.25%
0.45%
$0
Introductory rate of 0.7% p.a. for 4 months, reverting to a rate of 0.25% p.a. Available on balances between $10,000 and $5,000,000.
Bank of Queensland Kids Savings Account
Bank of Queensland Kids Savings Account
0.5%
0.05%
0.45%
$0
Ongoing, variable 0.5% p.a. if no more than 1 withdrawal is made during a calendar month.
Bank of Queensland Farm Management Deposit Account - At Call
Bank of Queensland Farm Management Deposit Account - At Call
1%
1%
0%
$0
Bank of Queensland Money Market Deposit Account
Bank of Queensland Money Market Deposit Account
0.1%
0.1%
0%
$0
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Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
Bank of Queensland Day2Day Plus Account
Visa
$0
$0
$0
An everyday transaction account with a linked Visa debit card.
Bank of Queensland Mortgage Offset Account
Visa
$0
$0
$0
Pay off your BOQ home loan faster with a home loan offset account.
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Bank of Queensland Term Deposit ($5,000 - $249,999)
0.35%
0.20%
0.20%
0.40%
0.30%
0.50%
0.50%
Bank of Queensland Premier Investment Account
0.35%
0.20%
0.20%
0.40%
0.30%
0.50%
0.50%
A term deposit account rewarding you with higher interest rates for a longer commitment.
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
2.5%
0.05%
2.45%
$0
Only available to those aged 14-24. Ongoing, variable 2.5% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Bank of Queensland Fast Track Saver Account
1.05%
0.05%
1%
$0
Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $1,000+ into the Day2Day account each month from an external account and make 5+ eligible transactions per month. Available on balances up to $250,000.
Bank of Queensland WebSavings Account
1%
0.05%
0.95%
$0
Introductory rate of 1% p.a. for 4 months, reverting to the standard rate of 0.05% p.a. for balances between $2,000 and $5,000,000.
Bank of Queensland Bonus Interest Savings Account
0.5%
0.05%
0.45%
$0
Ongoing, variable 0.5% p.a. when you only withdraw once per month. Available on the entire balance.
Bank of Queensland Superannuation Savings Account
0.7%
0.25%
0.45%
$0
Introductory rate of 0.7% p.a. for 4 months, reverting to a rate of 0.25% p.a. Available on balances between $10,000 and $5,000,000.
Bank of Queensland Kids Savings Account
Bank of Queensland Kids Savings Account
0.5%
0.05%
0.45%
$0
Ongoing, variable 0.5% p.a. if no more than 1 withdrawal is made during a calendar month.
Bank of Queensland Farm Management Deposit Account - At Call
Bank of Queensland Farm Management Deposit Account - At Call
1%
1%
0%
$0
Bank of Queensland Money Market Deposit Account
Bank of Queensland Money Market Deposit Account
0.1%
0.1%
0%
$0
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Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly account fee
Bank of Queensland Day2Day Plus Account
Visa
$0
$0
$0
An everyday transaction account with a linked Visa debit card.
Bank of Queensland Mortgage Offset Account
Visa
$0
$0
$0
Pay off your BOQ home loan faster with a home loan offset account.
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Compare up to 4 providers

Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Bank of Queensland Term Deposit ($5,000 - $249,999)
0.35%
0.20%
0.20%
0.40%
0.30%
0.50%
0.50%
Bank of Queensland Premier Investment Account
0.35%
0.20%
0.20%
0.40%
0.30%
0.50%
0.50%
A term deposit account rewarding you with higher interest rates for a longer commitment.
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Compare up to 4 providers

Quick facts about Bank of Queensland

  • Bank of Queensland (BOQ) is based in Brisbane and open to customers all over Australia
  • BOQ was originally a member-owned building society, and has been a retail bank since 1942
  • BOQ owns Virgin Money and ME Bank, which both also offer a range of different savings and bank accounts

Accounts offered by Bank of Queensland

BOQ Day2Day Plus Account

This is BOQ's everyday transaction account, designed to meet your day-to-day banking needs. It has no account keeping fees, 24/7 access to mobile and online bankingand comes with a free linked Visa debit card.

Read our full review of the BOQ Day2Day Plus Account.

BOQ Fast Track Saver Account

This high interest savings account offers an ongoing interest rate of 1.05% p.a. on balances up to $250,000 each month the bonus criteria is met.To earn the bonus rate, link this account to a BOQ Day2Day Plus Account, deposit $1,000 or more each month from an external account and make 5+ eligible transactions a month.

If you're aged 14-24, the Fast Track Starter Account offers an even higher bonus rate.

Read our full review of the BOQ Fast Track Saver Account, or the Fast Track Starter Account for 14-24 year olds.

BOQ WebSavings Account

This savings account offers a bonus interest rate for the first few months with no deposit conditions to meet.

Read our full review of the BOQ WebSavings Account.

BOQ Term Deposit

The BOQ Term Deposit has term lengths from 28 days to 5 years. The minimum balance requirement is $1,000, with the rate of interest increasing with higher deposits and longer terms. You can see current rates in the table above.

Read our full review of the BOQ Term Deposit.

Different ways to bank with BOQ

BOQ offers many different ways to do your banking.

BOQ bank branches

BOQ has more than 250 bank branches spread across Australia (although the majority of these are in QLD).

BOQ ATM network

BOQ's ATM network includes around 3,000 ATMs in Australia. This includes the rediATM network which BOQ is part of. BOQ customers can also use their Australian debit cards to withdraw cash for free at CommBank, NAB, Westpac and ANZ ATMs throughout Australia.

Bank@Post

If you need to deposit cash into your BOQ account and don't have a branch nearby, you can do this at a participating Australia Post shop using Bank@Post.

BOQ Internet and mobile banking

Customers can access the BOQ Internet banking portal 24/7 to review transactions and balances, see more detailed transaction data, pay bills, transfer money between accounts and make BPAY payments. You can also view and download your statements and open new BOQ bank accounts.

The BOQ app is free to download, and has a 1.2 star rating in the App Store and a 2.4 star rating in the Google Play store. You can do your day-to-day digital banking using the app 24/7.

BOQ contactless payment options

BOQ offers Apple Pay, Google Pay and Samsung Pay to customers with a BOQ debit or credit card.

Pros and cons of banking with BOQ

Pros

  • Range of accounts. BOQ offers several different savings and bank accounts to choose between, while many other banks only offer one option.
  • Bonus interest. You can earn bonus interest on your savings every month by meeting the account conditions.
  • No account keeping fees. BOQ's everyday bank account has no account keeping fees to pay.
  • Branches and ATMs. BOQ still has hundreds of branches and more than 3000 ATMs.

Cons

  • Deposit conditions. The monthly deposit conditions to earn bonus interest with a BOQ fast Track Saver Account are higher than many others in market.
  • Mobile app. The BOQ mobile app has poor star ratings from users.

How to apply for a BOQ account online

You can apply for a new BOQ account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old (or 14 if you're opening the BOQ Fast Track Starter Account)
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

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10 Responses

    Default Gravatar
    karenJanuary 16, 2019

    Do you waive atm fees like ING?

      Avatarfinder Customer Care
      JohnJanuary 17, 2019Staff

      Hi Karen,

      Thank you for reaching out to Finder.

      Currently, Bank of Queensland-operated ATMs are still charging a $2 withdrawal fee to non-bank customers, and the same applies for ATMs operated by Suncorp and credit union BCU. You may want to check our article about banks’ ATM fees. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    N@JADecember 8, 2018

    Hi ,we are customers of BOQ, can we buy shares in BOQ through the Bank, thank’s Ned

      Avatarfinder Customer Care
      JohnDecember 12, 2018Staff

      Hi N@JA Distefano,

      Thank you for reaching out to finder.

      The only way to sell your shares is through the Australian Securities Exchange (ASX) using a broker. In case you don’t have your own broker, the ASX website contains useful information on brokers and comprehensive lists to help you choose a broker that best suits your needs. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    GregMarch 19, 2018

    When will BOQ have Apple pay?

      Default Gravatar
      NikkiMarch 23, 2018

      Hi Greg!

      Thanks for your questions and for visiting finder – a leading comparison website and general information service built to give you advice on your buying decision needs.

      Regarding your question, our access to this information is very limited. Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product/service that is rightfully fit for you.

      We suggest contacting BAQ’s contact center to ask about this concern.

      Thanks and best regards,

      Nikki

    Default Gravatar
    johnFebruary 3, 2018

    Will my eftpos card work in New Zealand?

      Avatarfinder Customer Care
      RenchFebruary 14, 2018Staff

      Hi John,

      Thanks for your inquiry.

      Yes, you can use a Visa Bank of Queensland (BOQ) Savings Accounts Debit card overseas, including New Zealand. Your card can be used wherever Visa is accepted.

      Cheers,
      Rench

    Default Gravatar
    OscarApril 11, 2016

    Hi

    I’m a foreigner.Is it possible t o open a n account?

      Default Gravatar
      HarryApril 11, 2016

      Hi Oscar,

      Thanks for your question.

      In order to open a Bank of Queensland savings account, you must be an Australian citizen or permanent resident. If you have migrated to Australia, you can open an account either over the phone or by visiting a local branch.

      I hope this helps,

      Harry

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