Bank of Queensland Smart Saver Account (36+ years)

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Maximum variable rate: 4.60% p.a.
Base interest rate: 0.05% p.a.
Minimum deposit: $1,000

Our verdict

The Smart Saver Account has an ongoing bonus rate of 4.6% p.a on balances up to $250,000 for customers aged 36 or older.

This savings account is for customers aged 36 or older and offers an ongoing bonus rate of 4.6% p.a. This rate is not the highest rate on the market, but it is fairly competitive.

The monthly criteria isn’t too complicated: you need to deposit $1,000 a month and make 5 eligible transactions from the linked Everyday Account.

If you’re under 36 you can get an even higher rate of 4.85% p.a. with the Bank of Queensland Future Saver Account.

Pros

No monthly account keeping fees, helping savings grow faster.
Encourages saving discipline by requiring deposits and account usage each month.

Cons

Linked everyday account required, meaning you must manage two accounts.

Details

Key details

Product Name	Bank of Queensland Smart Saver Account (36+ years)
Maximum Variable Rate	4.60% p.a.
Standard Variable Rate	0.05% p.a.
Monthly Account Fee	$0
Minimum Age	36

Key features

Ongoing bonus rate up to 4.6% p.a.

This account offers an ongoing bonus rate of up to 4.6% p.a. for customers aged 36+. To earn the full bonus rate you need to:

Deposit at least $1,000 into your linked Bank of Queensland Everyday Account each month
Make at least 5 eligible transactions from your Everyday Account each month

If you don't meet the account conditions one month you'll only earn the standard variable rate of 0.05% p.a. that month. The bonus rate is available on balances up to $250,000.

Are you under 36?

If you're aged 14-35 you can earn a higher bonus rate of up to 4.85% p.a. with the Bank of Queensland Future Saver Account instead.

Linked Everyday Account

When you open a Bank of Queensland Smart Saver Account you'll automatically have a Bank of Queensland Everyday Account opened for you as well (unless you already have one). This account allows you to transfer money in and out of your Smart Saver account.

No monthly account keeping fee

There's no monthly account keeping fee with the Smart Saver Account or the linked Everyday Account.

Savings features in the mobile app

You can enable the Round Up feature in the Bank of Queensland mobile app to round up your transactions to the nearest dollar and have the remainder sent to your Smart Saver Account. You can also set savings goals and track your progress with personal saving insights.

Protected by the Government bank guarantee scheme

Your deposit up to $250,000 in a Bank of Queensland savings account or transaction account is protected by the Government's bank guarantee scheme.

Launch savings calculator

How to apply

You can apply online in less than 10 minutes. When applying for the Bank of Queensland Smart Saver Account, you'll receive a Bank of Queensland Everyday Account too if you don't already have one.

Eligibility

Minimum age. You must be 36 or older.
Residency. You must have an Australian residential address.

Documentation needed

Identification. You must be able to verify your identity with either a driver's license, passport or proof of age card.
Tax file number. This is needed in order to apply the correct tax rate to your interest.
Personal details. You'll need to supply your personal details including your full name and contact details.

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Bank of Queensland Smart Saver Account information page
2. Bank of Queensland Smart Saver Account TMD

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Alison Finder

Editorial Manager, Money

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Christy

October 24, 2025

Are we allowed to withdraw the money from this Smart saving account anytime ?

Alison Banney Finder

October 28, 2025

Hello,

Yes, you can make withdrawals whenever you need to (it’s not locked like a term deposit it).

However be mindful that to earn the bonus rate you need to deposit $1,000 per month and make 5 transactions from the linked BoQ bank account.

Thanks,

Alison

bILL

August 15, 2025

Is the BOQ saver account available for joint accounts

Alison Banney Finder

August 15, 2025

Hi, yes you can open a BoQ savings account as a joint account.

Thanks,

Alison

Arvin

August 20, 2023

what do mean by “Make at least 5 eligible transactions from your Everyday Account each month”? What does the world eligible meanin here ?

Alison Banney Finder

September 21, 2023

Eligible transactions include direct debit payments, ATM withdrawals, BPAY payments or purchases with your Visa Debit Card. Transactions must be settled to count.

Jonathan

August 04, 2023

Apart from proof of identity does the bank do any other third party checks, like Equifax for example?

Alison Banney Finder

August 07, 2023

Hi Jonathan, you’ll need to ask the bank directly about this.

Thanks,

Alison

DAVID

December 14, 2022

Just curious about the 5 eligible transactions that are required each month to get the 4%. A bit more information would be great.

Thanks

Alison Banney Finder

December 24, 2022

Hi David,

You visited our Bank of Queensland Smart Saver Account (36+-year-olds) page and asked about the eligible transactions to get the 4% interest rate.

Eligible transactions would include direct debit payments, ATM withdrawals, BPAY payments, or purchases with your Visa Debit Card.

Regards,

Alison

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Bank of Queensland Smart Saver Account (36+ year olds)

Pros

Cons

Key features

Ongoing bonus rate up to 4.6% p.a.

Are you under 36?

Linked Everyday Account

No monthly account keeping fee

Savings features in the mobile app

Protected by the Government bank guarantee scheme

How to apply

Eligibility

Documentation needed

Sources

Sources

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