Bank of Queensland Fast Track Starter Account

0.35% p.a.(for $0 and over)

3.50% p.a. (for $0 to $10,000)

Bank of Queensland Fast Track Starter Account

0.35% p.a.(for $0 and over)

3.50% p.a. (for $0 to $10,000)

Mozo Review   Bank of Queensland Fast Track Starter Account Review

Last updated: 11 July 2019.

What's hot:
  • Massive 3.50% special rate

  • 2019 Mozo Experts Choice Award (Best New Savings Account)

  • No monthly service fees

  • Unlimited free transactions

What's not:
  • Only available for those aged 14-24

  • No ATM access

Mozo snapshot:

If you’re ready to be rewarded for your hard earned savings, then look no further than the Bank of Queensland Fast Track Starter Account - winner of the 2019 Mozo Experts Choice Award for Best New Savings Account. This savings account features a whopping 3.50% special rate so long as you meet the deposit requirements and offers no account fees, plus unlimited free transactions - a great option for young savers.

Key features:

If you’re after your first savings account, then the Bank of Queensland Fast Track Starter Account is a great pick. This account offers young Aussies an ongoing 3.50% special rate on balances from as little as $1, as long as $200 or more is credited to your linked Day2Day Plus account in the previous month. But, remember that if you don’t meet this requirement, you’ll earn interest at the regular rate of 0.35%.

There’s also no account maintenance fees to eat into your savings stash and free withdrawals to your linked Day2Day Plus account. You’ll always have fast access to your account information either over the phone or internet banking, plus make as many deposits as you like, thanks to the unlimited deposits feature.

Keep in mind that this account is only available for Aussies aged between 14 - 24 years old. Like most savings accounts, there’s also no ATM access with this account, although you can withdraw from the linked Day2Day Plus Account.


Who it's good for:

The Bank of Queensland Fast Track Starter Account is a great option for young Aussie savers after their first savings account, who can deposit $200 a month in order to snag the ongoing bonus rate.

Any catches?

While the Bank of Queensland Fast Track Starter Account gives savers the opportunity to earn big, the account is only available to those aged 14 - 24. If you are older, you might want to consider the Bank of Queensland Fast Track Saver Account. Plus, keep in mind that if you have more than $10,000 saved in your account, the bonus interest rate drops to 2.50%.  

Details

Rates and fees information correct as at 16 September 2019. 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 $0: 0.35% p.a.

  • Balances from $0: 3.50% p.a.
    Balances from $10,000: 2.50% p.a.
    Balances from $250,000: 0.35% p.a.

  • Ongoing bonus rate applied if in the previous month $200 or more is credited to the linked Day2Day Plus account.

Fees
  • $0.00

  • n/a

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

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • 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

  • none

  • none

  • 14 to 24

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
7.8/10
Trust
8.0/10
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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