Bank of Queensland Term Deposit
- Interest rate 6 months interest rate
- Up to 5.1% p.a.
- Minimum opening deposit
- $5,000
- Account keeping fee
- $0
- Maximum deposit
- $249,999
Summary
The BOQ term deposit rewards you by paying higher interest rates for a longer term commitment.
The Bank of Queensland Term Deposit offers a competitive interest fixed rate on a range of terms with a low, minimum investment amount of $5,000. Terms vary from 1 month to almost 5 years and there are no account-keeping or transaction fees.
Pros
-
Low minimum investment of $5,000
-
$0 Account keeping fees
-
Wide ranges of terms from from 1 month to almost 5 years
Cons
-
31 days advance notice required in case of withdrawing funds before maturity
Details
Key details
| Product Name | Bank of Queensland Term Deposit |
| 3 month interest rate | 2.25% |
| 4 month interest rate | 4.90% |
| 6 month interest rate | 5.10% |
| 7 month interest rate | 1.50% |
| 9 month interest rate | 5.05% |
| 12 month interest rate | 5.05% |
| 24 month interest rate | 4.20% |
| 36 month interest rate | 3.30% |
| 48 month interest rate | 3.30% |
| Minimum Opening Deposit | $5,000 |
| Minimum age requirement | 18 |
| Government guarantee | Yes |
Eligibility
| Minimum Age Requirement | 18 |
| Joint account availability | Yes |
| Min Deposit | $5,000 |
| Available to children | Not available for children |
Your reviews
Alison Finder
Editor
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Raj Lal Finder
May 01, 2023
Hi Danny,
This particular account is for a personal account. BOQ offers term deposits for SMSF however they require you to contact them to set it up.
Additionally we also have a list of providers who offer SMSF term deposits here https://www.finder.com.au/smsf-term-deposit
Thanks
Raj
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Ron
October 24, 2022
Are these rates available for a SMSF?
Alison Banney Finder
November 11, 2022
Hi Ron,
These rates are for personal customers only. If you’d like to open an account as an SMSF or Trust, you’ll need to phone the bank directly or head into a branch.
Thanks,
Alison
Janette
June 16, 2022
for the 12-month term deposit account, can I do an SMSF account with this rate 2.5%? How do I apply for an SMSF account?
Alison Banney Finder
June 22, 2022
Hi Janette,
The BoQ Term Deposit is for personal use only and cannot be opened by an SMSF, trust, or business. BoQ requires SMSF customers to visit a branch to discuss options for opening a term deposit account.
Hope this helps,
Alison
Graham
April 12, 2022
Do I need to have a BOQ account to open a term deposit? On maturity, can funds be transferred to an alternate bank?
Alison Banney Finder
May 11, 2022
Hi Graham,
There’s no mention that you would need a BOQ account to open a term deposit account. Upon maturity, you can transfer the fund to your nominated bank account.
If you wish to confirm, please get in touch with BOQ.
Regards,
Alison
Frank
May 16, 2017
Are term deposits of $250,000 per person at BOQ still government guaranteed as at May 2017.?
Liezl
May 16, 2017
Hi Frank,
Thanks for your question.
Yes, BOQ term deposits are still covered by the Government Guarantee at the time of writing. You can verify BOQ’s deposit guarantee on their website or by calling them directly.
Cheers,
Liezl
Danny
April 28, 2023
i am the trustee of my smsf. is this fund eligible for this term deposit