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4.90% p.a. Interest on Balances up to $50,000 for 14-35 Year Olds (Monthly Criteria Apply for 18+) @ Bank of Queensland

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4.90% p.a. Interest on Balances up to $50,000 for 14-35 Year Olds (Monthly Criteria Apply for 18+) @ Bank of Queensland
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nxllson on 17/02/2023 - 17:45 boq.com.au (1238 clicks)
Last edited 03/03/2023 - 01:01 by 1 other user

From BOQ's Facebook post:

To support our savings customers, we have some exciting updates to share. From 23 February, you'll now be able to earn up to 4.90% p.a. with our Future Saver account

Monthly criteria and terms and conditions apply.

To be eligible to receive this rate, customers will require $1,000 minimum monthly deposit with a minimum of 5 eligible transactions on their linked Everyday Account every month.

Financial Bank Account Savings Account

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Bank of Queensland
Bank of Queensland

closed Comments

        • blighst on 18/02/2023 - 16:49
          +1

          Web banking is for their old accounts, MyBOQ is their new system.

          Just can't believe how much lost money in support time and customer dissatisfaction they're getting from this bug… Surely someone higher up should be doing something

  • Jayharley95 on 18/02/2023 - 13:33

    Is this now the highest paying bank rate?

  • manity on 18/02/2023 - 16:17
    +1

    Wtf why is this age restricted

    • hamwhisperer on 19/02/2023 - 14:09
      -1

      Ageism, simple as that, despite the voting in this thread

  • GJT on 19/02/2023 - 02:35
    +1

    Anyone knows if you get the bonus rate if you're an existing account holder?

    • Yola on 19/02/2023 - 07:45
      +1

      Yes, as long as you meet the monthly criteria. If not the offer would be called something like - introductory for new customers.

      • GJT on 19/02/2023 - 18:18
        +2

        Thanks for the explanation Yola :)

  • Pineapples on 19/02/2023 - 10:57

    BOQ customer service is absolutely atrocious. Just hope nothing goes wrong with your account!

  • MrThing on 20/02/2023 - 17:43

    did they end up fixing that bug were you could open numerous of these high interest accounts within the same core account and collect the high interest on all of them? 50k + 50k + 50k etc

    or is it still working?

    • dealer453 on 20/02/2023 - 19:42

      If more than 50k across all saving accounts(1-9), the bonus interest decrease to 3% instead of 4.9%.

    • HcNguyen111 on 24/02/2023 - 13:57

      Still works for me

  • Mr Joker on 21/02/2023 - 09:26

    I heard a while back that you can open up multiple saving accounts?

    Can anyone answer these questions:

    1. If you open up multiple saving accounts is the maximum number of accounts 9? (I recall it was with couples but it might be 5 for singles).
    2. If you open up multiple saving accounts, in order to hit the 5 transactions are they all linked to the same everyday account. Does that mean i have to make 5 transactions per saving account or is it just a minimum of 5 transactions regardless of the number of saving accounts I have.
  • shaibankek2 on 21/02/2023 - 15:52

    Good rate but terrible bank. Had to wait for over 1 week to even get a response over their chat feature within the app. Still not resolved 2+ weeks later.

  • souths123 on 22/02/2023 - 11:20
    +1

    waaahhhh, where is the increase for VM?

  • ashtdp on 23/02/2023 - 20:58

    Today is 23rd and my account still shows 4.75%. Anyone know anything?

    • me1stt on 23/02/2023 - 21:04

      Same. I'll wait till tomorrow.

  • Macgyver on 26/02/2023 - 23:57

    Does this account pay interest monthly? What happens to the interest this month if I make an account now and transfer some money into it?

    • Yola on 27/02/2023 - 09:37

      Interest is calculated daily and paid monthly. So as soon as you deposit you start earning interest.

  • joewg12 on 27/02/2023 - 11:35
    +1

    Is anyone experiencing issue when opening an account through myBOQ app? I have provided 3 different ID documents which are all I have to confirm my identity but the app is still requesting more…

    • Savas on 02/03/2023 - 19:46

      Yes …

  • Gracemia44 on 01/03/2023 - 17:33

    Anyone get less than the previous month interest this time? Expected more because of the rate increase but got less despite bonus rules being met..

    • Yola on 01/03/2023 - 17:52

      February is 28 days.

      • Gracemia44 on 01/03/2023 - 18:45

        Duh! Thanks, makes sense.

        • shoppe on 02/03/2023 - 10:01

          Just because February is short, doesn't mean you should pay him/her/they/them/we/it less.

          • freoleo on 02/03/2023 - 18:42
            +1

            @shoppe: Less days = less days for interest to be applied on…

    • parisian on 01/03/2023 - 18:18

      Somehow my current account was overdrawn but I only use to pay my bills at the exact figure - so always $0 when I’ve paid everything manually and have also not received any interest payment on my saving account which is full.

      Something is broken somewhere haha

  • HcNguyen111 on 02/03/2023 - 17:33

    This increases to 5.15% from 3/Mar.

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