Simple Saver Account
No hoops and no fuss when you just want to save. Simply sit back and watch your savings grow.
- Base rate
- 4.8%
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable | 0.05% | over $5M | monthly |
| Variable | 4.8% | $1 to $5M | monthly |
Fees
| Fee | Type | Amount |
|---|---|---|
| Paper Statement - International Charged monthly · Charged for each paper statement that is required to be posted to an International Address. | Ongoing | $5.00 |
| Overdrawn Account There is no overdrawn fee, however a debit interest rate is applied as set out below. | Event | $0.00 |
| Electronic Transaction Error Correction Fee Charged when the bank is requested by you or the recipient Financial Institution or Biller, to correct an error you have made with a BPAY payment, using the 'Pay Someone' functionality, or NPP transaction. | Event | $30.00 |
| Failed Transaction Dispute Charged when a transaction dispute is unsuccessful. | Event | $15.00 |
| Trace Charged for each request to perform a trace on any transaction type. | Event | $20.00 |
| BPAY, Pay Someone, Card Transactions There is no fee charged by BOQ for performing a BPAY Payment, Pay Anyone or making a Card transaction. Merchants may charge fee in respect of card transactions which should be advised to you at the time of making the transaction. |
Features
- Earn interest with an ongoing interest rate, with no monthly criteria and no minimum deposit
- All deposits up to $250,000 are protected by the Federal Government's deposit guarantee, so your savings are secure with us
- $0 account maintenance fees
- Make every cent count. Open multiple Simple Saver accounts to manage your savings across multiple goals.
- Digital banking
- Access your account anytime through the myBOQ mobile app
- PayID
- Send and receive payments using PayID
Eligibility
- A smartphone that supports iOS 12.0+ or Android 8.0+.
- An Australian mobile number
- An Australian drivers licence or Australian passport or Medicare card
- Minimum age — 14 yearsFourteen (14) years of age or over
- Individuals onlyApplying for a personal account and not in the name of a business or trust. There should be no more than two account holders for this account
- An Australian residential address
- Residency status — Resident or CitizenA citizen or permanent resident of Australia
More Information
Published by Bank of Queensland Limited under the Consumer Data Right · Last updated 2 June 2026 · Product ID 1a906e88-5c03-ee11-8f6e-00224814d330 · View on CDR.gov.au