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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      Important Information and Comparison Rate Warning

      All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of May 21, 2024. View disclaimer.

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