Our highest interest savings account for customers aged 14-35 years.

Interest is calculated on your Future Saver Account/s from the day funds are credited to your account. It is calculated daily by applying the applicable interest rate to the closing balance of your account each day as follows:

Future Saver Account daily closing balance x interest rate (per annum)/
Number of days in the year (365 or 366 days)

We will credit interest to your account at the close of business on the last day of each calendar month, and funds are available on the first day of the following month. 

Some months have more days than others, which can affect the total dollar value of interest paid each month. 

Tiered interest is calculated and paid on the total balance of all Future Saver Accounts that are held in the same name. The amount of interest you will earn is determined by the balance in your account.

No, any BOQ banking products that are accessible via BOQ internet banking such as Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account are not available in the myBOQ app.

Yes, accounts can be opened with 2 people only as joint owners. Once you’ve completed your application, we’ll send the other party a message with details on how to get started. 

Just so you know, if the person you are opening the account with is a new myBOQ customer, they will receive a unique application ID and an invite prompting them to download the myBOQ app to get started.

If they are an existing myBOQ customer, they can apply using the application ID in the myBOQ app. This is done in the account section by selecting ‘Sign up for a new account’ and then ‘Join an existing application’.  

If you hold both joint and individual Future Saver Accounts, you will need to meet the bonus interest criteria separately for each, on the respective linked Everyday Accounts; to activate the bonus interest on each.

The tiered interest rate is applied to joint and single accounts separately.

When you’re opening a new high interest savings account with us and you would like it to be a joint account, simply let us know who you would like to open the account with. We’ll then send them details on what they need to do to get started.

• To activate bonus interest on your Future Saver Account/s, you will need to meet bonus interest criteria each month to qualify for bonus interest the following month. This is outlined in the diagram and table below:  

Age bonus interest criteria

Interest is calculated at a tiered rate on the total balance of all Future Saver Accounts that are held in the same name. Interest will be paid into the account it was earned in.

No. myBOQ Future Saver Accounts are only available through the myBOQ mobile app, and you cannot access this on a desktop or laptop computer. Any BOQ banking products that are accessible via BOQ internet banking such as Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account are not available in the myBOQ app.

You can open an account directly from the myBOQ app or by completing the online application form. You’ll need your Australian residential address, Australian phone number & Australian drivers licence or passport.

If you're aged between 14 and 35 and already have a Future Saver Account, your account will automatically convert to a Smart Saver Account when you celebrate your 36th birthday. This means that a new interest rate will apply from the first month after the month in which you turned 36. You can see the Smart Saver interest rate and interest Tiers here.

For example, if you turn 36 on the 14th day of September, your account will automatically convert to a Smart Saver for the month of October.

If you have a joint account, then your Future Saver Account will automatically convert to a Smart Saver Account once the eldest joint account holder turns 36 years old.

A Future Saver Account can only be held as a Joint Account if both account holders are between 18 years old and 35 years old. If you have a Future Saver Account as a joint account, once the eldest joint account holder turns 36, you will no longer be eligible to hold a Future Saver Account and:

• your existing Future Saver Account will automatically convert to a Smart Saver Account;
• the fees, charges and interest rate that apply Smart Saver Accounts will apply to your converted Smart Saver Account; and
• the new interest rate applicable to your Smart Saver Account will be applied to your balance from the first day of the month after the month in which you (or the eldest joint account holder) turned 36.