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Save faster with a bonus interest rate on savings account balances up to $250,000**
You'll earn up to 5.00% p.a. each month when you deposit a minimum of $1,000 into your linked Everyday Account directly from an external bank account and make 5 eligible payments, withdrawals or purchases from your linked Everyday Account.**
Enjoy our great bonus interest rate for balances up to $250,000 (across all your Smart Saver accounts.) when you meet the bonus interest criteria.**
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 Smart Saver account.
The Australian Government's Financial Claims Scheme guarantees the money in your savings accounts (up to $250,000).#
Our Smart Saver savings account is a high interest saving account (linked with an Everyday Account) that live on the myBOQ app , designed to make your day-to-day banking easier.
Manage your money easily. Set spending budgets on specific categories like groceries, bills and more. Get personalised insights and real-time alerts.
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.
We’re never far away with our dedicated in-app customer service chat.
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 Smart Saver account~.
| Balances up to | Base Rate % p.a. | Bonus Rate % p.a. | Highest Rate % p.a.** |
|---|---|---|---|
| $250,000 | 0.05 | 4.95 | 5.00% |
| $250,000 + | 0.05 | 0.00 | 0.05% |
It's easy to earn your monthly bonus interest payment. Here's how:
Transfer a minimum of $1,000 each month from an external Australian bank account. 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 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.)
Bonus interest will automatically be deposited into your savings account the following month once you've met the bonus interest criteria.*
Note: To help you get started on reaching your savings goals, you'll start earning Bonus Interest straight away after opening your Smart Saver Account (for new customers only). To continue to earn Bonus Interest each month, you'll need to meet the above bonus interest criteria.
Please view the myBOQ Deposit Account Interest Rates, Transaction Limits, Fees and Charges document for more details.
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And if you'd rather apply for your accounts online, that's easy too.
You will need:
| Age | Monthly criteria |
|---|---|
| 14-17 Years | No monthly 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.
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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 |
|---|---|
| Smart Saver | $0 to $250,000 $250,001 to $5M |
Everyday banking with no monthly account keeping fees
Our simple, intuitive everyday transaction account, made even better for you with user-friendly features that help you make the most of your money.
GET A GREAT, ONGOING INTEREST RATE FOR BALANCES UP TO $5 MILLION
No hoops and no fuss when you just want to save. Simply sit back and watch your savings grow.
