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Term Deposit Calculator

Understand how much interest you can earn with our term deposit calculator.

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Our Top Term Deposit Rates

4.85 %P.A.
6 month fixed term deposit from $5,000
4.80 %P.A.
9 month fixed term deposit from $5,000
4.60 %P.A.
12 month fixed term deposit from $5,000

Term deposit options

 

Added BOQ Term Deposit benefits

  • Reinvest your term deposit with ease, with automatic rollover at maturity for your choice of term.
  • Make deposits and withdrawals to your account during the 7 day renewal grace period, which commences on the day your Term Deposit matures.
  • Arrange to reinvest your interest payments or transfer your interest to another account.
  • Access your funds prior to maturity by providing 31 days prior notice to redeem your account early (an interest adjustment and early payout fee apply).

Our High Interest Term Deposits

Make the most of your savings with our high interest term deposit account, rewarding you with higher interest if you deposit more than $5,000.

Term Deposit interest rate

Competitive interest rates

Earn higher interest on your term deposit if you deposit $5,000 or more.

Term Deposit term options

Flexible terms

Choose the length of your term deposit, from just one month.

Payment options

Flexible interest payments

Choose how and when you receive interest payments – reinvest or transfer to another bank account.

Follow your savings

Keep track of your investment

Use internet or mobile banking to check your balance and keep tabs on your term deposit.

Term Deposit investment amount

Low investment amount

$1,000 minimum term deposit investment  amount.

Government Guarantee

Secure deposits

All deposits up to $250,000 are protected by the Federal Government’s deposit guarantee, so your savings are secure with us.#

Eligibility criteria

To be eligible for a Term Deposit Account, you must be:

  • A citizen or permanent resident of Australia
  • Eighteen (18) years of age or over
  • Applying for a personal account and not in the name of a business or trust. 
  • There should be no more than two account holders for this account

Learn more

Are you a business, trust or SMSF?

Please visit your nearest branch

To apply for Term Deposit

Visit www.boq.com.au/contact-us for our operating hours.

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  • How will my interest be calculated and paid?

    Interest starts on the day your account is opened and funds are received and is calculated daily, by applying the interest rate to the closing balance of your account on that day as follows:

    Daily closing balance x Interest Rate (%) / 365.

    You can use our Term Deposit calculator to crunch the numbers and provide an estimate of how much interest you could earn1 . You can choose how and when you receive interest payments, with options to reinvest or transfer the interest to another bank account. 

  • How much interest could $250 000 earn in a year with a term deposit?

    This will depend on your fixed term deposit rate. For example, if your term deposit interest rate is 4.5% p.a. you could earn $11,250 in one year.1

  • How long is a term deposit?

    The length of your term deposit is dependent on what you decide upon. The length of our term deposits is from one month up to just under 5 years. The interest rate payable will generally depend on how long you lock in your term deposit for. You can view our current term deposit rates here.

  • What is the difference between a fixed deposit and a term deposit?

    “Fixed deposits” and “term deposits” can be used interchangeably. They both describe a type of investment that involves a person locking in a lump-sum of money for an agreed amount of time to earn a set amount of interest. In other words, fixed deposits can  also be known as term deposits.

  • Important Information

      Term deposit products issued by Bank of Queensland Limited ABN 32 009 656 740 (BOQ) AFSL and Australian Credit Licence No 244616.

      Interest rates on offer may change at any time without notice. Different interest rates apply to different investment amounts, terms and interest payment frequencies. If you choose to renew your Term Deposit upon maturity, the interest rate may be higher or lower than the interest rate on your maturing Term Deposit.

      You must provide 31 days’ notice for early withdrawal or termination before your fixed Term Deposit Account matures. If you give notice to withdraw your Term Deposit before maturity, an early payout fee will be payable and interest will be adjusted in accordance with the Deposit Products Terms and Conditions or Business Transaction and Investment Accounts Terms and Conditions and the relevant Guide to Fees and Charges (as the case may be). If you think you will need to access the funds in your Term Deposit immediately or regularly, another deposit product may be more suitable.

      All other rates quoted apply only if end of term interest payment is chosen. For monthly interest payments, the applicable interest rate will be the rate quoted above, less 0.10%, with a minimum rate of 0.05% p.a.

      Rates quoted for term deposit of less than 1 month apply to both end of term and monthly interest payment options. Term deposit of less than 1 month is available only on reinvestment of funds.

      Bonus interest offers are not available in conjunction with one another or with any other offer.

      All term deposit rates quoted are per annum. Minimum investment amount and account balance is $1,000. Interest is calculated daily and paid at the end of the investment term, or in the case of investments longer than 12 months, paid annually.

    1. # Under the Australian Government’s Financial Claims Scheme (FCS), certain deposits are protected up to a limit of $250,000 for each account holder at BOQ. The FCS limit of $250,000 applies to the total sum of all BOQ bank accounts, including accounts you hold with BOQ Branches, ME Bank, Virgin Money Australia and BOQ Specialist. Please visit this website for further information on the institutions and types of accounts covered. 

    2. Conditions, Criteria and Fees Apply.  You should obtain and consider the relevant Product Disclosure Statement (PDS), terms and conditions and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it.  Full terms and conditions are available online or at any Bank of Queensland branch. 

    3. For Target Market Determinations please refer to the TMD page here

       

      4. 1. Calculator Information

      The Term Deposit Calculator calculates the approximate total interest earned in a term deposit based on the investment amount, term duration and interest rate (per annum) selected.

      The calculator assumes that a year has 12 months of exactly equal lengths. Given some months are longer than others, actual interest earned will vary depending upon the month.

      The actual duration of our terms are in calendar months, and the interest earned depends on the number of days the term deposit is open for.

      The interest rates displayed are for amounts from $1,000 up to $2,000,000 and are based on the term duration and amount deposited. Contact BOQ for rates on amounts above $2,000,000.

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