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Bank of Queensland WebSavings Account

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A competitive interest rate of 1.4% p.a. for the first 4 months.

A high interest savings account offered by Bank of Queensland (BOQ). You can access the account in branch, through internet banking. There is $0 account keeping fees with unlimited free, transfers to your BOQ everyday bank accounts.

1.4% p.a.

Maximum variable rate

0.4% p.a.

Base interest rate

1% p.a.

Bonus interest rate

for 4 months

Details

Product NameBank of Queensland WebSavings Account
Maximum Variable Rate1.4% p.a.
Standard Variable Rate0.40%
Bonus Variable Rate1.00%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age14

Key features

$0 Monthly maintenance fee

There are no monthly maintenance fees charged for this account.

Up to 1.4% p.a. for the first 4 months on your first WebSavings account

Bonus interest will be applied to your balance for the first 4 months after the account has been opened. The savings account needs to be opened after 11 May 2016.

Launch savings calculator


How to apply

If you like the convenience and interest rates of the WebSavings Account, visit their website to start an online application.

Eligibility

Check the following eligibility requirements first to ensure that you will qualify for this account:

  • Minimum age. Only applicants who are at least 14 years of age will be considered for this savings account.
  • Residency requirements. You must either be an Australian permanent resident or citizen to qualify for this account.

FAQ

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12 Comments

  1. Default Gravatar
    Rob
    February 22, 2019

    Can this Web Savings Account account be used for funds in a DIY Super Fund?

    • Avatarfinder Customer Care
      Jeni
      February 25, 2019

      Hi Rob,

      Thank you for getting in touch with Finder.

      You may use this account for you DIY super fund. It is best that you contact BOQ directly to discuss more on having this account and your super fund.

      If you’re still looking around for your DIY super fund, you may also check out results on this Finder search page like BankSA DIY Super Saver, St.George DIY Super Saver etc.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    John
    January 15, 2019

    Hi, just to clarify – is the introductory rate from the day the account is opened or the day I transfer money first into the account? Thank you.

    • Avatarfinder Customer Care
      Charisse
      January 17, 2019

      Hi John,

      Thanks for reaching out to finder.

      The 2.80% p.a. introductory special offer (1.20% p.a. variable + 1.60% p.a. bonus) will be paid for 4 months from the account opening date – to any new customers who open a WebSavings Account on or after 21 June 2018.

      Please note that additional interest only applies to account balances of $2,000 or more.

      I hope this helps.

      Cheers,
      Charisse

  3. Default Gravatar
    Geoff
    January 9, 2019

    I have an existing web saver account, the offer expires soon. Why don’t you reward your loyal customers with the equivalent bonus interest? Or don’t you want to keep tour existing customers?

    • Avatarfinder Customer Care
      Jhez
      January 11, 2019

      Hello Geoff,

      Thank you for your comment.

      It’s definitely nice to be rewarded for being a loyal customer. To know if there are rewards for you as a loyal customer of Bank of Queensland WebSavings, please check their website or sign up to their newsletter (if they have) so you can be updated of their offers.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  4. Default Gravatar
    Graeme
    July 2, 2018

    I have an existing BOQ web saving account earning interest at 2.90% The 4 month introductory offer is up on the 8th of this month can I then open a new Joint account with my wife and earn the same 2.90%

    • Default Gravatar
      Nikki
      July 5, 2018

      Hi Graeme!

      Thanks for getting in touch!

      You can open a joint account with BOQ, however, the 2.9% earning interest is for new customers only. The offer is not available to existing customers whether or not they hold a WebSavings Account. For additional Terms and Conditions, you can check the important Information part of the bank website.

      Hope this clarifies!

      Cheers,
      Nikki

  5. Default Gravatar
    Peter
    June 24, 2018

    I have an existing Web account, but would like to transfer a large amount into that account. Am I eligible for the 2.9%? If not why not?

    • Avatarfinder Customer Care
      Jeni
      June 24, 2018

      Hi Peter,

      Thank you for getting in touch with finder.

      As you mentioned, you are an existing WebSavings account holder which doesn’t qualify you for this rate of 2.90% p.a.

      Basically, to get up to 2.90% p.a. rate, you must be a new customer with balances between $2,000 – $5,000,000 for 4 months from account opening date and this offer is for a limited time only. 2.9% p.a. is the combination of the variable base rate, 1.30% p.a. and bonus interest rate, 1.60% p.a.

      Please visit BOQ’s official page for more info on their products. You may also speak to one of their representatives from a local branch near you or via phone for further assistance.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  6. Default Gravatar
    John
    May 18, 2017

    Please explain the internet banking charges /fees?

    • Avatarfinder Customer Care
      Harold
      May 18, 2017

      Hi John,

      Thank you for your inquiry.

      Typically, these are the transactions you’ve done through your online account. For example you made an online fund transfer a fee may apply on this transaction.

      I hope this information has helped.

      Cheers,
      Harold

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