BOQ (Bank of Queensland) Savings Accounts

Bank of Queensland is a provider of savings accounts, as well as other banking solutions such as insurance, loans, term deposits and financial advice.

Compare Bank of Queensland savings accounts

Considering a savings account from Bank of Queensland? The table below displays a snapshot of Bank of Queensland savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver profile in NSW with $10,000 in current savings.

Click here to compare more savings accounts based on your circumstances and preferences. To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here.

Compare Savings Accounts

What savings accounts does Bank of Queensland offer?

At the time of writing, Bank of Queensland offers the following savings accounts:

WebSavings Account

A high interest savings account that allows customers access their money any time.

Bonus Interest Savings Account

Bank of Queensland’s Bonus Interest Savings Account allows customers earn bonus interest while still being able to make one withdrawal each month. The bonus interest rate varies depending on the size of the deposit.

Kids Savings Account

A savings account designed for children under 14 years.

You can view the current interest rates on Bank of Queensland savings accounts in our comparison tables.

Do Bank of Queensland savings accounts require a linked transaction account?

Bank of Queensland does require linked transaction accounts for its savings accounts.

The Kids Savings Account requires a parents account to be linked for full access.

You can compare transaction accounts with Canstar to potentially find one that suits your requirements.

Compare Transaction Accounts

Does Bank of Queensland charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. Bank of Queensland charges the following fees on their savings accounts at the time of writing (17/09/18):

  • $1.00 monthly card fees for Visa Debit
  • $2.00 teller withdrawals
  • $0.30 internet banking funds transfer and BPAY

For current information on fees and how they apply, please check the Product Disclosure Statement.

What does Bank of Queensland offer in terms of mobile banking for savings accounts?

Bank of Queensland offers both online and mobile banking for its savings products, with its app available in both the Apple and Google store. Notable features of Bank of Queensland’s mobile banking include the ability to:

  • Personalise the app for how you want to use it
  • Select your desired look and feel, choose your own colour scheme and even add your own photo as a background
  • Select the top feature that will appear on your home screen, view your local branch contact details or the nearest ATM

How to apply for a Bank of Queensland savings account

Before applying for a Bank of Queensland savings account, consider comparing it against other savings accounts on the market to ensure it is the right one for you. You can then apply for a Bank of Queensland savings account online, provided you have the correct documentation:

  • At least one form of ID, such as your driver’s license or passport
  • Accurate personal information, such as your name, date of birth, address and phone number

Once your account is opened, Bank of Queensland may require you to transfer in a minimum amount before your account can be activated – check the PDS document for more information on how much you might need to deposit.

Related article: How to change bank accounts

Eligibility requirements

When applying for a Bank of Queensland savings account, you will also have to meet the following eligibility requirements:

  • A citizen or permanent resident of Australia
  • 15 years of age or over
  • Apply for a personal account and not in the name of a business or a trust

What other banking products does Bank of Queensland provide?

Bank of Queensland provides a variety of different products to consumers, including:

  • Loans
  • Financial advice
  • Insurance
  • Credit cards
  • International banking

About Bank of Queensland

BOQ was initially founded in 1874 as the Brisbane Permanent Benefit Building and Investment Society, which was the first building society in Queensland. It became a bank in 1887 and rebranded to Bank of Queensland (BOQ) in 1970, and was listed on the ASX a year later.

Although founded in Queensland, BOQ now operates across Australia. Today it operates more than 200 owner-managed branches.

Compare Savings Accounts

Written by: Maddie Clarey | Last updated: July 9, 2018