Compare our high interest savings accounts 

Looking for a savings account with high interest, keen to save smarter, open your child’s first savings account, or simply put some money aside for the future? We’ve got different types of high interest savings accounts to suit all ages and stages. Compare our high interest savings accounts here. 

Future Saver Account
You can earn
5.50 %P.A. ^^
On deposit balances up to $50,000

BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $50,000 IF BONUS INTEREST CRITERIA MET**

Future Saver Account

Our highest interest savings account for 14 to 35-year-olds. Meet the simple criteria to earn the bonus interest and watch your savings soar.

  • Available on the myBOQ app
  • No monthly account fees
  • Comes linked with an Everyday Transaction Account
  • Earn bonus interest each month when you meet the criteria**
Learn about Future Saver Apply now
Smart Saver Account
You can earn
5.15 %P.A.^^
On deposit balances up to $250,000

BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $250,000 IF BONUS INTEREST CRITERIA MET**

Smart Saver Account

Our high interest savings account for customers 36 years or older.

  • Available on the myBOQ app
  • No monthly account fees
  • Comes linked with an Everyday Transaction Account
  • Earn bonus interest each month when you meet the bonus interest criteria**
Learn about Smart Saver Apply now
Simple Saver Account
You can earn
4.85 %P.A.
For balances up to $5m.

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
Learn about Simple Saver Apply now
Kids Savings Account
You can earn
2.75 % P.A.^^
Including 2.70% Bonus Interest variable rate + 0.05% variable Base Rate13

GET REWARDED WITH BONUS INTEREST

Kids Savings Account

A savings account for children under 14. Start earning high interest from the first dollar.

  • No account keeping fees
  • No minimum monthly deposit
  • Make no more than one withdrawal a month to earn variable bonus interest rate
Learn about Kids Saving Accounts Apply now
Term Deposits
You can earn
4.60 % P.A.
On balances $5,000-$249,999, term of 12 to less than 24 months

Fixed term interest rates and no account fees

Term Deposits

Rewarding you with higher interest on balances over $5,000. Enjoy the security of a fixed rate for your nominated term.

We’re receiving a high volume of online applications at the moment, so it might take us a little longer than usual to get your account ready for you. Please be assured we’ll process your request as quickly as possible.

  • Flexible terms from just 1 month
  • Minimum investment of just $1,000
  • Choose how and when you receive interest payments
Enquire now Learn about Term Deposits

Savings account interest rates 

Compare our high interest saving rates accounts side by side.

Check savings account interest rates, fees and other important information.

Check the latest rates

 

Term deposits

Term deposits are another high interest savings alternative to savings accounts. If you have over $5,000 to invest, are aged 18 years or older, and won’t need to withdraw any money for at least a few months, a term deposit could be another type of high interest savings account for you.

Learn about your term deposit options.

 

Tools and calculators

Have a savings goal? We'll help you do the sums and get there faster.
Calculate how much you can save

Savings calculators

Compare savings account interest rates and find out how much you need to deposit to reach your goals.

Use savings calculator
Calculate how much interest you can earn

Term deposit calculator

Calculate how much you can earn with a term deposit account.

Use term deposit calculator
calculate your budget options

Budget planner

We’ll help you work out what you’re spending where so you can start growing your savings.

Use budget planner

Tips for managing your money

Starting something new? We’ve got helpful tips for managing your money at every age and stage.   

Bank account for kids

Your First Bank Account

It's never too early to plan for the future and introduce your kids to the world of saving. Find out about savings accounts for kids and teens.

Learn about kids accounts

Tips on what you may need with your first job

Starting Your First Job

You’re on your way to financial independence. We have transaction accounts, savings accounts and services to help you bank your way.

Read your first job guide

Useful tips on what you may need as a student

Starting Your Studies

Tips for managing your money while you’re a student, like having a transaction account for paying monthly bills and a savings account for unexpected expenses.

Read the study guide

See joint bank account options

Joint Accounts

What you need to know about sharing a transaction account or a savings account with someone else.

 

Learn about joint accounts

Other saving products

  • 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. 

  • How to open a savings account?

    To open a Future Saver, Smart Saver or Simple Saver account with BOQ, all you need to do is download the myBOQ app and choose which savings account you’d like! You’ll need your Australian phone number and Australian driver’s license or passport. After that, we’ll take it from there. Find out more about the myBOQ banking app here.

  • Can my savings account be a joint account?

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

  • How is interest calculated on savings accounts?

    Interest is calculated on BOQ savings accounts from the day funds are credited to your account and paid monthly. It is calculated daily by applying the applicable interest rate to the closing balance of your savings account each day as follows:

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

    We will credit interest to your savings 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.

  • How to save money?

    A great way to get started with saving your money is to compare savings accounts on offer and find the right one for you. Look for savings accounts with high interest and minimal fees, which will allow you to earn and boost your savings. Creating a budgeting plan to manage your expenses is another great way to save money, as it will give you an idea of what your biggest expenses are and which areas you can cut down on. Want to learn more? Check out our 10 everyday saving tips article.

  • Do you have more questions?

    For more everyday transaction account  and saving account FAQs, click on the button below.

    See all account FAQs