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Bank of Queensland Fast Track Saver Account

Interest rate
0.20% p.a.(for $1 and over)
Maximum rate
1.85% p.a. (for $1 to $250,000)
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Mozo editorial review Bank of Queensland Fast Track Saver Account

Last updated: 22 May 2020.

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What's hot
  • Ongoing 1.85% p.a. bonus interest on balances up to $250,000 (conditions apply)
  • 2020 Mozo Experts Choice Award
  • No account fees
What's not
  • No ATM access
Mozo snapshot

If you’re ready to kickstart your savings with a bang, why not check out the Bank of Queensland Fast Track Saver Account - winner of a 2020 Mozo Experts Choice Award in the best Regular Saver category. 

With an ongoing 1.85% p.a. bonus interest rate up for grabs on balances up to $250,000 (if $1,000 or more is credited to the linked Day2Day Plus account in the previous month and 5 eligible transactions are made by the linked account), you have the chance to be rewarded for your hard earnings savings while paying no account fees. And if you need to make multiple withdrawals or deposits every month, you can do so for free!

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Key features

The Bank of Queensland Fast Track Saver Account features an ongoing bonus rate of 1.85% p.a., on balances starting from $1 right up to $250,000, so long as you meet the minimum requirement of depositing $1,000 or more into your linked Day2Day Plus Account during the previous month. You also won’t have to worry about any fees, as this account comes with no account maintenance fees.

Additionally, this account offers unlimited free transactions from branch withdrawal, branch deposit and via the internet, so you'll have the freedom to make as many deposits and withdrawals as you like.

If you’re between the ages of 14-24, you could be eligible to apply for the Fast Track Starter Account, which features a whopping bonus rate of 2.85% p.a. (conditions may apply).

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Who is it good for

The Bank of Queensland Fast Track Saver Account could be a great choice for Aussies who have a tendency to dip into their savings frequently and who'll be able to meet the bonus rate requirements each month.

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Any catches

If you ever need to withdraw cash from your account, keep in mind that the Fast Track Saver Account doesn’t offer ATM withdrawals.

Details

Rates and fees information correct as at 2 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $1: 0.20% p.a.

  • Balances from $1: 1.85% p.a.
    Balances from $250,000: 0.20% p.a.

  • Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Day2Day Plus account and 5 eligible transactions are made by the linked account. (This second requirement has been paused until 31 August 2020).

Fees
  • $0.00

  • n/a

  • unlimited free transactions from branch withdrawal, branch deposit, internet.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • n/a

Other financial bits
  • $1.00

  • $1.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • no

  • yes

  • yes

  • no

  • Bonus interest rate criteria is effective from 1 February 2020.

  • none

  • none

Customer Reviews

How are Bank of Queensland savings accounts rated by the Mozo community?

Overall customer rating
7.8/10
Price
7.2/10
Features
6.7/10
Customer service
8.1/10
Convenience
7.7/10
Trust
8.0/10

Latest reviews of Bank of Queensland Fast Track Saver Account

  • Overall 7/10
    Good product but room for improvement.

    Very good account, competitive interest rate. Online banking not very user friendly and efficient.

    Read full review

    Very good account, competitive interest rate. Online banking not very user friendly and efficient.

    Price
    6/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    4/10
    Trust
    7/10
    Less
    Patrick, Victoria reviewed about 1 month ago
  • Overall 9/10
    BOQ review.

    Bank of Queensland offered me a competitive interesting savings rate compared with the traditional big 4 banks which I have been a customer of for many years. However the app and internet banking userface needs to be updated to compete with those of the bigger banks which are very quick and easy to use.

    Read full review

    Bank of Queensland offered me a competitive interesting savings rate compared with the traditional big 4 banks which I have been a customer of for many years. However the app and internet banking userface needs to be updated to compete with those of the bigger banks which are very quick and easy to use.

    Price
    10/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    7/10
    Trust
    10/10
    Less
    Charlotte, Queensland reviewed 7 months ago
Bank of Queensland

About Bank of Queensland

Bank of Queensland is Australia's fastest growing retail bank, and has come a long way from its origins as a regional Queensland bank. BOQ today boasts a wide array of banking services and 200 branches around Australia. Bank of Queensland aims to give you greater control over the management of your finances and offers everyday banking products including credit cards, home loans, term deposits, savings accounts and bank accounts.

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