Bank of Queensland Smart Saver Account (36+ year olds)
- Maximum variable rate
- 5.00% p.a.
- Base interest rate
- 0.05%p.a.
- Minimum deposit
- $1,000
Our verdict
The Smart Saver Account has an ongoing bonus rate of 5% p.a on balances up to $250,000 for customers aged 36 or older.
This savings account is for customers aged 36 or older and offers an ongoing bonus rate of 5% p.a. This rate is not the highest rate on the market, but it is fairly competitive.
The monthly criteria isn’t too complicated: you need to deposit $1,000 a month and make 5 eligible transactions from the linked Everyday Account.
If you’re under 36 you can get an even higher rate of 5.5% p.a. with the Bank of Queensland Future Saver Account.
Pros
-
Ongoing, variable bonus rate each month
-
Monthly deposit condition is lower than some others in the market
-
Savings tools and features in the myBoQ mobile app
Cons
-
Total bonus rate is lower than others in the market
-
$1000 monthly deposit condition could be difficult to meet for some customers
Details
Key details
| Product Name | Bank of Queensland Smart Saver Account - 36+ years |
| Maximum Variable Rate | 5.00% p.a. |
| Standard Variable Rate | 0.05% p.a. |
| Monthly Account Fee | $0 |
| Minimum Age | 36 |
Your reviews
Alison Finder
Editor
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Alison Banney Finder
September 21, 2023
Eligible transactions include direct debit payments, ATM withdrawals, BPAY payments or purchases with your Visa Debit Card. Transactions must be settled to count.
Jonathan
August 04, 2023
Apart from proof of identity does the bank do any other third party checks, like Equifax for example?
Alison Banney Finder
August 07, 2023
Hi Jonathan, you’ll need to ask the bank directly about this.
Thanks,
Alison
DAVID
December 14, 2022
Just curious about the 5 eligible transactions that are required each month to get the 4%. A bit more information would be great.
Thanks
Alison Banney Finder
December 24, 2022
Hi David,
You visited our Bank of Queensland Smart Saver Account (36+-year-olds) page and asked about the eligible transactions to get the 4% interest rate.
Eligible transactions would include direct debit payments, ATM withdrawals, BPAY payments, or purchases with your Visa Debit Card.
Regards,
Alison
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waldema
November 30, 2022
I just wondre how you colculate the interes on Smart sevings account
if your deposit on $9500 what interest you expect to get on interest 3.85%I do not understand your calculation . In my colculation I should recieved interest about $35 per months but I only get $27+ Can you please explain your calculation
Regards
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Alison Banney Finder
December 20, 2022
Hi Waldema,
The Interest is calculated from the day funds are credited to your account. It is calculated daily by applying the applicable interest rate to the closing balance of your account each day as follows:
Daily closing balance x interest rate (per annum)
————————————————————-
Number of days in the year (365 or 366 days)
Unfortunately, since you have reached Finder, we won’t be able to provide how much you will earn if you deposit $9500. You may need to call the Bank of Australia directly and ask them to check this for you.
All the best,
Alison
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Ann
November 30, 2022
Maybe I should have asked – what is, or are, the best savings account interest rate currently
What is the best interest rate offered by a bank currently? BOQ interest rate is pretty standard you said. Thanks
Alison Banney Finder
December 10, 2022
Hi Ann,
You can use our table to filter the accounts by interest rate.
Thanks,
Alison
Arvin
August 20, 2023
what do mean by “Make at least 5 eligible transactions from your Everyday Account each month”? What does the world eligible meanin here ?