BOQ has cut its youth savings account interest rate from 2.50% p.a. to 2.00% p.a.
Bank of Queensland's (BOQ) Fast Track Starter Account, its youth savings account for people aged 14 to 24 years old, has seen a 50 basis point cut from 2.50% p.a. to 2.00% p.a.
Savers can now access this 2.00% p.a. interest rate on balances up to $10,000 given the same criteria is met.
BOQ's savings account interest rate was previously tied with Westpac's Westpac Life account, which saw interest rates slashed in September 2021 from 3.00% p.a. to 2.5% p.a.
In Savings.com.au's market research, these were some of the highest interest rates on savings accounts currently on offer.
Any good news for savers?
- Macquarie doubles term deposit rates
- Judo Bank increases term deposit rates
- AMP bumps up savings account rate
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Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.
Rates based on a savings balance of $10,000. Sorted by total interest rates. Refer to providers' websites for bonus rate conditions and for any applicable fees and charges. Rates correct as of August 11, 2022. View disclaimer.
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