Open your
Future Saver
account

Apply for a Future Saver Account

Apply online

Scan to open a Future Saver Account

Scan the QR code to download the myBOQ app and get started

Why choose a Future Saver account?

Earn bonus interest with a Future Saver Account

Our highest interest savings account

You can earn up to 5.50% p.a. each month when you meet the bonus interest criteria using your linked Everyday Account. Simply deposit a minimum of $1,000 into your linked Everyday Account (directly from an external bank account) and make five eligible payments, withdrawals or purchases to activate the bonus interest rate.**

Future Saver fees

No monthly account keeping fees

You don’t want account fees, so we won’t charge them. That’s right! Keep all your cash and grow your savings a little faster with no monthly account keeping fees on your Future Saver account.

Government Guarantee

Your money’s safe and secure

Your savings balance is safe with BOQ. The Australian Government's Financial Claims Scheme guarantees the money in your savings accounts (up to $250,000).#

Manage your finances with multiple accounts

Open up to 9 accounts

Need more high interest savings accounts for different savings goals? You can open up to 9 Future Saver accounts on your myBOQ app.

 

Plus, a linked transaction account for effortless everyday banking.

Visa Debit card

Not only does the Future Saver account come with our highest bonus interest savings rate, but it also comes automatically linked with an Everyday Account. It’s the perfect match to help you manage your money. 

Enjoy next-level banking with myBOQ

Our Future Saver accounts are on the myBOQ banking app. They’re bundled with an Everyday Account so you can manage all your finances in one place. 

 Learn about mobile banking with myBOQ

Budget your money with Future Saver

Get better at budgeting

Manage your money easily. Set spending budgets on specific categories like groceries, bills and more. Get personalised insights and real-time alerts so you can save even more.

Track your bills with Future Saver

Track your bills

Never miss a payment. We’ll give you a heads up when your bills are due, so you can make sure you’ve got the funds available.

Use live chat in the myBOQ app

Live in-app chat

We’re never far away. Get your questions sorted in our dedicated in-app customer service chat.

Round up your savings with Future Saver

Grow your money with round ups~

When you have an Everyday Account you can easily grow your savings with our round up feature. Simply round up your debit card transactions to the nearest dollar and we'll put the extra change straight into your nominated Future Saver account~

Future Saver on the myBOQ app

Things you should know

  • myBOQ is our mobile app with exclusive app-only accounts like Future Saver and your Everyday Account. That means you can't access app-only accounts via Online Banking.
  • If you hold other bank accounts with us that you access via Online Banking, you won't be able to get into those accounts within the myBOQ app.

 

Our highest bonus interest
savings account

Future Saver accounts have three tiers or levels of interest rates, with the highest tier offering the highest savings interest rate that we offer. 

Balances up to Base Rate % p.a. Bonus Rate % p.a. Highest Rate % p.a.**
$0 to $50,000 0.05% 5.45% 5.50%
$50,000 to $250,000 0.05% 2.95% 3.00%
$250,000 + 0.05% 0.00% 0.05%

Interest rates are variable rates and are subject to change at any time without notice. We calculate your interest daily and pay the total into your savings account on the first day of the following month.

 

Important Information

  • Bonus Interest Rate will only apply for each calendar month when the bonus interest criteria is met in the previous calendar month. If the bonus interest criteria is not met, your account will earn the Base Rate.
  • The Future Saver Account will automatically convert to a Smart Saver Account on the date you turn 36 years old.

Here’s how you can score our highest savings rate

Take two steps to earn our bonus interest rate with Future Saver:

Start earning bonus interest with Future Saver

Deposit at least $1,000 each month into your linked Everyday Account.

Transfer a minimum of $1,000 each month from another Australian Bank. Getting your salary or wages paid directly into the transaction account is an easy way to do that. (These deposits must be electronic, so cash and cheque deposits won't count.)

Use your Everyday Account to earn bonus interest

Make 5 or more eligible transactions from your linked Everyday Account.

Use your transaction account at least 5 times each month. Eligible transactions include direct debit payments, ATM withdrawals, BPAY payments or purchases with your Visa Debit Card. (Transactions must be settled before they’ll count.)

Earn bonus interest with a Future Saver Account

Earn bonus interest as easy as that.

Your bonus interest will automatically go into your savings account the following month once you've met the bonus interest criteria**

Earn bonus interest with Future saver

Note for new customers: To help you get started on reaching your savings goals, you'll start earning bonus interest as soon as you open your Future Saver Account. Then to continue earning monthly bonus interest rates you'll need to meet the above bonus interest criteria.

If you're aged between 14 -17 years of age, we'll waive the bonus interest criteria, so you'll earn bonus interest every month on your Future Saver balance as shown in the table.

Fees and Charges

$ 0 
No monthly account keeping fees
$ 0 
No transaction fees within Australia *^

Ready to apply for your high-interest Future Saver account?

  1. Grab your phone and scan the QR code
  2. Download the myBOQ app
  3. Apply for your savings account
Scan to open a Future Saver Account

And if you'd rather apply for your accounts online, that's easy too.

Get my account online

Before you apply for the Future Saver

You will need:

  • To be aged between 14 years old and 35 years old
  • To be the account holder (applications cannot be completed and submitted by an Executor/Administrator/Power of Attorney/ Legal representative).
  • An Australian residential address
  • An Australian drivers licence or Australian passport
  • An Australian mobile number
  • A smartphone that supports iOS 14.0+ or Android 8.0+.
  • What is a savings account?

    A savings account is a bank account where you can deposit your money and earn interest. It is a great way to save money, for a potential  emergency, or towards a goal like a holiday, new laptop or house deposit.

    The type of savings account you need will depend on your savings goals and other lifestyle factors so you should compare savings accounts to find the best one for you. 

  • Can I open a joint savings account?

    Yes, accounts can be opened with two 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. 

    If they're a new myBOQ customer, they'll get a unique application ID and an invite prompting them to download the myBOQ app to get started.

    But if they already have myBOQ they can apply by using the application ID in the account section of their myBOQ app. Select ‘Sign up for a new account’ and then ‘Join an existing application’. 

    If you hold both joint and individual Smart Saver Accounts, you'll need to meet the bonus interest criteria separately for each, on the respective linked Everyday Accounts, to activate the bonus interest on each savings account. 

    We apply the Tiered interest rate to joint and single accounts separately.  

  • How to set up a joint bank account?

    When you’re opening a new high interest savings account with us and you’d 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. 

  • How do I open a high interest savings account?

    You can open Future Saver accounts directly from the myBOQ app or through the online application form on this page. You'll need your Australian phone number and Australian driver’s licence or Australian passport to get started.  

  • What is a transaction account?

    A transaction account is the bank account you use for day-to-day spending. It comes with a debit card used to pay in-store and online, and to withdraw cash, and the chance to integrate mobile wallets like Apple Pay, Google Pay or Samsung Pay.

  • How is savings interest calculated?

    We calculate interest on your Future Saver Account/s from the day funds are credited to your savings account. It's 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'll credit all the interest to your account at the close of business on the last day of each calendar month. Those 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.

    To ensure that you are achieving our highest savings interest rate, check you are meeting the criteria required:

    1. Deposit at least $1,000 each month into your linked transaction account.
    2. Make 5 or more eligible transactions from your linked Everyday account
  • How do I qualify for bonus interest?

    To activate the bonus interest, and our highest savings interest rate, on your Future Saver Account/s, you will need to meet bonus interest criteria each month to qualify for bonus interest the following month. 

    Earn bonus interest with Future saver

    Deposit at least $1,000 a month into your linked Everyday transaction account from another Australian bank. (Funds transferred from BOQ accounts, cash and cheque and international deposits won't count.) 

    Complete at least 5 transactions each month. Eligible transactions include direct debit payments, ATM withdrawals (not deposits), BPAY payments, and purchases with your Visa Debit Card. Bank transfers are not eligible transactions. 

    Age bonus interest criteria

    Age Monthly criteria
    14-17 Years No bonus interest criteria to unlock bonus interest.
    18+

    Deposit $1000 from an external account into your linked Everyday Account and make 5 eligible transactions that clear within the month.

    • An external account is any Australian non-myBOQ account.
    • A deposit from an external account includes wages paid by an employer from an Australian account. Cash and cheque deposits or transfers from international accounts are not eligible deposits.
    • Eligible deposits must be made into your Everyday Account (not your Future Saver Account).
    • Eligible transactions include direct debit payments, ATM withdrawals (not deposits), BPAY payments, and purchases with your Visa Debit Card. Bank transfers are not eligible transactions.

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

    Account Tiered interest balance bands
    Future Saver

    $0 to $50,000

    $50,001 to $250,000

    $250,001 to $5M

  • What happens to my future saver when I turn 36?

    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 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.

  • What happens when the eldest joint account holder of a Future Saver Account turns 36?

    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 rates that apply to Smart Saver Accounts will apply to your converted account.
    • We’ll apply the new interest rate to your balance from the first day of the month after the month in which you (or the eldest joint account holder) turned 36.
  • Can I use Online Banking to manage my Future Saver?

    No, Future Saver high interest savings accounts and their linked transaction accounts can only be used through the myBOQ mobile app. You can't use the app on a desktop or laptop computer. 

    You can get to your other Bank of Queensland accounts like Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account through Online Banking, but not in the myBOQ app.  

  • If I already have a Fast Track Saver account, can I access the myBOQ app?

    No. The myBOQ app works on a different system. That's why BOQ banking products such as Day2Day Plus Account, Fast Track Starter Account and Fast Track Saver Account are available through Online Banking but not in the myBOQ app. 

    However, our Simple Saver, Smart Saver and the Everyday Account are all available on the myBOQ app. On the app, you can open an account and manage all of your everyday banking from there. 

  • Do you have more Future Saver account questions?

    For more everyday transaction account and saving account FAQs.

    See all account FAQs

Explore more savings and transaction accounts:

Everyday banking with no monthly account keeping fees

Everyday Account

Our simple, intuitive everyday transaction account, made even better for you with user-friendly features that help you make the most of your money.

  • Access your money whenever you need, exclusively on myBOQ mobile app. Please note: As an app-exclusive account, it cannot be accessed via Internet Banking.
  • Managing your money has never been easier, with in-app spend tracking to help you budget better and bill tracker to give you a heads up when bills are due.
  • Fast, easy payments. Pay or be paid instantly with PayID.
  • Open an Everyday Account directly within the myBOQ app and start banking with BOQ today!

GET A GREAT, ONGOING INTEREST RATE FOR BALANCES UP TO $5 MILLION

Simple Saver Account

No hoops and no fuss when you just want to save. Simply sit back and watch your savings grow.

  • Available on the myBOQ app
  • No monthly account fees
  • Grow your savings with no minimum deposit
  • Simply sit back and watch your savings grow