- Maximum rate: 2.5% p.a.
- Standard variable rate: 0.05% p.a.
- Monthly fees: $0
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Bank of Queensland savings accounts, bank accounts and term deposits
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.
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.
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
- 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.
- 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.
- 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
- 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
More guides on Finder
Bank of Queensland Fast Track Starter Account
The BOQ Fast Track Starter Account is a high interest savings account for Australians aged 14-24 years old. Read this review to find out if this account is the right option for you.
BOQ Fast Track Saver Account
This high interest savings account offers a competitive, ongoing interest rate each month the bonus criteria is met.
Bank of Queensland Superannuation Savings Account
The Bank of Queensland Superannuation Savings Account gives you a bonus introductory period and the ability to withdraw your SMSF’s savings without restriction.
Bank of Queensland Bonus Interest Savings Account
The Bank of Queensland Bonus Interest Savings Account provides you with an incentive to save through bonus interest and withdrawal restrictions.
Bank of Queensland Mortgage Offset Account
An offset Account linked to your personal Bank of Queensland home loan gives you access to your savings while they work to reduce your mortgage balance.
Bank of Queensland Premier Investment Account
A premier high interest savings account may be just what you need in order to reach your future financial goals.
Bank of Queensland Term Deposit
With a small nest egg Bank of Queensland allows you to make good progress with your savings goals by providing flexible terms and a competitive interest rate.
Bank of Queensland WebSavings Account
Give your savings a big boost with introductory bonus interest from the Bank of Queensland WebSavings Account.
Bank of Queensland Day2Day Plus Account
Act fast if you want the chance to win big money just for making your everyday purchases. This, on top of an everyday account that does not charge any fees for your daily transactions is a good reason to consider the Day2Day Plus.
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