Effective Tuesday 20 September, the highest rate on BOQ's Future Saver account will increase by 0.50% to 4.00% p.a. for balances up to $50,000.
Interest earned on balances between $50,001 to $250,000 will increase by 1.00% to 2.50% p.a.
To receive the total 4.00% p.a. rate, savers must deposit $1,000 and make five settled card transactions on their linked Everyday Account every month.
The 4% p.a. rate is restricted to Aussies aged 14-35.
@savings.com.au From Tuesday September 20, Bank of Queensland (BOQ) will increase its Future Savers account for millennials aged 14-35 to 4.00% p.a! 🤑 For all the latest savings news and to compare savings accounts, head to savings.com.au #fintok #fintokaustralia #ausfinance #savingsaccount #bankofqueensland #money #banking #bankingnews ♬ original sound - Savings.com.au
BOQ Group said it will continue to review interest rates to ensure it remains competitive in the market, given ING's decision to lift their Savings Maximiser accounts to 3.60% p.a., and a number of competitors approaching the 3.50% p.a. offering.
BOQ will also increase:
- Smart Saver by 0.25% to 3.35% p.a. for balances between $1 and $250,000.
- Simple Saver by 0.50% to 2.00% p.a. for balances up to $5 million.
BOQ has also increased rates on key term deposit terms including a new 3.50% rate on its 12 month term deposit.
Effective 17 September, ME Bank will increase rates on its Online Savings Account by 0.50% to 2.70% p.a.
ME Bank's 12-month term deposit rate is now one of the most competitive at 3.65% p.a. based on Savings.com.au market research.
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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.
Provider | |||||||||||||
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0 | 200 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
No monthly fees | Save Account
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Save Account
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0 | 1000 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
FEATURED | Savings Maximiser (<$100k)
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Savings Maximiser (<$100k)
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0 | 1000 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
Boost Saver |

- Deposit at least $1,000 + each month from an external source
- Make 5 or more eligible transactions
- Grow your savings balance each month
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