Simple Saver Account
Savings account, no monthly conditions
14 or older
5.55%p.a.
Intro rate for 4 months, then 5.00% p.a.
No hoops and no fuss when you just want to save.
BOQ savings account and term deposit rates
Bank of Queensland Limited · Regional bank
BOQ's best ongoing savings rate is 5.00% p.a. on Simple Saver Account. Its best term deposit pays 5.40% p.a. for 12 months on $5,000 or more.
Verified 2 Nov 2026
Key facts
- Top savings rate
- 5.00% p.a.
- Introductory rate
- 5.55% p.a. for 4 months
- Best term deposit
- 5.40% p.a. for 12 months
- Minimum term deposit
- $5,000
- Deposit protection
- $250,000 per account holder
- Credit cards
- 3 cards from BOQ
Simple Saver Account
Simple Saver Account, then 5.00% p.a.
Interest paid at maturity
For new term deposits
Financial Claims Scheme, shared with Virgin Money
In our credit card catalog
What would your money earn at BOQ?
Type any amount and pick an account. Estimates are before tax and assume the rate stays the same.
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Account
Fixed for the term. From $5,000.
Interest over 12 months
$1,350
5.40% p.a., interest paid at maturity.
BOQ 12-month term deposit$1,350
Bank Australia Term Deposit, 5.60% p.a.$1,400
That is $50 less than the best 12-month term deposit in Australia would pay on the same amount.
BOQ rates
Every rate is variable. Bonus rates show as the total you earn, with the base and bonus parts underneath.
Kids Savings Account
Bonus savings account
Under 15
1.30%p.a.
0.05% base + 1.25% bonus
To earn the bonus each month
- Calculated daily and paid monthly.
myBOQ Term Deposit
| Term | $5,000 and over |
|---|---|
| 3 months | 4.95% |
| 4 months | 5.00% |
| 6 monthsStand-out term | 5.25% |
| 7 months | 5.20% |
| 9 months | 5.20% |
| 12 monthsBest rate | 5.40% |
Interest paid at maturity. New term deposits start at $5,000.
How BOQ compares with other banks in Australia
Every bank we track in Australia, ranked by its best ongoing savings rate, with its 12-month term deposit. Verified 2 Nov 2026.
| # | Bank | Top savings rate | 12-month term deposit |
|---|---|---|---|
| 1 |  ING | 5.75% p.a.Savings Maximiser, monthly conditions | 5.30% p.a.Personal Term Deposits |
| 2 |  St.George | 5.40% p.a.Incentive Saver, monthly conditions | 4.75% p.a.Term Deposit |
| 3 |  Bank Australia | 5.35% p.a.Bonus Saver, monthly conditions | 5.60% p.a.Term Deposit |
| 4 |  Teachers Mutual Bank | 5.35% p.a.Momentum Saver, monthly conditions | 5.35% p.a.Term Deposit |
| 5 |  ANZ | 5.35% p.a.ANZ Plus Growth Saver, monthly conditions | 5.30% p.a.ANZ Advance Notice Term Deposit |
| 6 |  Bankwest | 5.35% p.a.Hero Saver, monthly conditions | 5.30% p.a.Bankwest Term Deposit |
| 7 |  Virgin Money | 5.30% p.a.Virgin Money Boost Saver, monthly conditions | Not published |
| 8 |  Macquarie | 5.25% p.a.Macquarie Savings Account | 5.40% p.a.Macquarie Term Deposit |
| 9 |  CommBank | 5.25% p.a.GoalSaver, monthly conditions | 5.30% p.a.Standard Term Deposit |
| 10 |  NAB | 5.25% p.a.NAB Reward Saver, monthly conditions | 5.30% p.a.NAB Term Deposit |
| 11 |  Westpac | 5.25% p.a.Westpac Life, monthly conditions | 5.30% p.a.Term Deposit |
| 12 | BOQ | 5.00% p.a.Simple Saver Account | 5.40% p.a.myBOQ Term Deposit |
| 13 |  Bendigo Bank | 5.00% p.a.Bendigo Reward Saver, monthly conditions | 4.90% p.a.Standard Term Deposit |
| 14 |  Beyond Bank | 4.90% p.a.Purple Bonus Saver, monthly conditions | 4.90% p.a.Term Deposit |
Who can open them, and how safe is the money?
Who can open each account
- Simple Saver Account
- 14 or older
- Kids Savings Account
- Under 15
- myBOQ Term Deposit
- 14 or older, from $5,000
Is my money protected?
The Australian Government's Financial Claims Scheme covers deposits at BOQ up to $250,000 per account holder. Virgin Money is part of the same bank, so money at both counts toward that one limit.
Questions about BOQ savings and term deposits
Community
BOQ savers will soon be able to report whether their bonus rate paid out each month, and ask other savers questions.
Cards issued by BOQ
Other banks in Australia
- INGSavings 5.75% p.a.12-month 5.30% p.a.
- St.GeorgeSavings 5.40% p.a.12-month 4.75% p.a.
- BankwestSavings 5.35% p.a.12-month 5.30% p.a.
- Teachers Mutual BankSavings 5.35% p.a.12-month 5.35% p.a.
- ANZSavings 5.35% p.a.12-month 5.30% p.a.
- Bank AustraliaSavings 5.35% p.a.12-month 5.60% p.a.
Guides for savers in Australia
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