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Bank of Queensland Term Deposit

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.

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Product NameBank of Queensland Term Deposit ($5,000 - $249,999)
3 month interest rate1.25%
4 month interest rate0.10%
6 month interest rate2.00%
7 month interest rate2.50%
9 month interest rate1.75%
12 month interest rate2.75%
24 month interest rate3.00%
36 month interest rate3.00%
48 month interest rate3.00%
Minimum Opening Deposit$5,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

$0 Account maintenance fees

You will not be charged any account maintenance or transaction fees with this account.

Competitive interest rates

The interest rate is tiered for this account, with the highest balances and longest terms receiving the highest return on the investment.

Launch term deposit calculator

How to apply


Here are the requirements to apply online.

  • Minimum age. You must be at least 18 years old in order to open a term deposit with Bank of Queensland.
  • Residency requirement. This savings product is only available to Australian permanent residents and citizens.

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  1. Default Gravatar
    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?

    • Avatarfinder Customer Care
      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,

  2. Default Gravatar
    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?

    • Avatarfinder Customer Care
      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.

  3. Default Gravatar
    May 16, 2017

    Are term deposits of $250,000 per person at BOQ still government guaranteed as at May 2017.?

    • Default Gravatar
      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.


  4. Avatarfinder Customer Care
    January 11, 2017

    Hi Henry,

    Thanks for your question.

    For the Bank of Queensland Term Deposit, a 3-month interest rate will be 0.90%.

    You may want to compare other term deposit accounts featured on our website.


  5. Default Gravatar
    January 10, 2017

    What are the term deposit rates for 3months 1000 to 20000

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