Your selected term deposits
Bank of Queensland (BOQ) is a regional Australian bank headquartered in Brisbane, Queensland. Founded in 1874, BOQ has grown to become one of Australia's leading regional banks, offering a wide range of financial products and services to individuals, small to medium-sized businesses, and corporations.
BOQ offers a range of products for savers from savings accounts to term deposits. Its term deposits start from as short as 1 month up to 48 months.
Flexible terms starting from just one month
Choice of interest payment options (reinvest or transfer)
Low minimum deposit of $1,000
Online account management
Early withdrawal fee and interest adjustment apply
No branch access in some states and territories
Bank of Queensland's term deposits offer a solid option for savers looking to lock away their funds and earn a guaranteed return. One of the features of term deposits is the flexibility they offer for locking away cash. Savers can choose terms as short as one month, allowing for more precise financial planning. The ability to select how and when interest is paid – either reinvested or transferred to another account – is another option that could be useful to savers.
A low minimum deposit of $1,000 makes these term deposits accessible to a wide range of savers too. However, it's worth noting that the higher interest rates are only available for deposits of $5,000 or more, which could be an incentive for those with larger sums to invest.
While the 31-day notice period for early withdrawals and associated fees might be a drawback for some, this is fairly standard in the industry and encourages savers to commit to their chosen term. Overall, BOQ's term deposits could be a good choice for savers who have a chunk of change ready to lock up for a year or less.
| 1 month | 0.05% p.a. | ($1,000 - $4,999) |
| 0.75% p.a. | ($5,000 - $249,999) | |
| 2 months | 0.08% p.a. | ($1,000 - $4,999) |
| 0.80% p.a. | ($5,000 - $249,999) | |
| 3 months | 0.10% p.a. | ($1,000 - $4,999) |
| 2.25% p.a. | ($5,000 - $249,999) | |
| 4 months | 0.10% p.a. | ($1,000 - $4,999) |
| 4.60% p.a. | ($5,000 - $249,999) | |
| 5 months | 0.10% p.a. | ($1,000 - $4,999) |
| 1.25% p.a. | ($5,000 - $249,999) | |
| 6 months | 0.10% p.a. | ($1,000 - $4,999) |
| 4.85% p.a. | ($5,000 - $249,999) | |
| 7 months | 0.10% p.a. | ($1,000 - $4,999) |
| 1.50% p.a. | ($5,000 - $249,999) | |
| 8 months | 0.10% p.a. | ($1,000 - $4,999) |
| 1.50% p.a. | ($5,000 - $249,999) | |
| 9 months | 0.15% p.a. | ($1,000 - $4,999) |
| 4.80% p.a. | ($5,000 - $249,999) | |
| 10 months | 0.15% p.a. | ($1,000 - $4,999) |
| 1.75% p.a. | ($5,000 - $249,999) | |
| 11 months | 0.15% p.a. | ($1,000 - $4,999) |
| 1.75% p.a. | ($5,000 - $249,999) | |
| 1 year | 0.15% p.a. | ($1,000 - $4,999) |
| 4.60% p.a. | ($5,000 - $249,999) | |
| 13 months | 0.15% p.a. | ($1,000 - $4,999) |
| 4.60% p.a. | ($5,000 - $249,999) | |
| 18 months | 0.15% p.a. | ($1,000 - $4,999) |
| 4.60% p.a. | ($5,000 - $249,999) | |
| 2 years | 0.15% p.a. | ($1,000 - $4,999) |
| 3.30% p.a. | ($5,000 - $249,999) | |
| 3 years | 0.15% p.a. | ($1,000 - $4,999) |
| 3.30% p.a. | ($5,000 - $249,999) | |
| 4 years | 0.15% p.a. | ($1,000 - $4,999) |
| 3.30% p.a. | ($5,000 - $249,999) |
Your selected term deposits
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Write a reviewYes, Bank of Queensland is an Authorised Deposit-taking Institution (ADI). This means deposits up to $250,000 are protected under the Australian Government's Financial Claims Scheme, providing a high level of security for your savings.
The minimum deposit amount for a BOQ term deposit is $1,000. While there isn't a specified maximum deposit amount, it's important to note that the government guarantee only covers up to $250,000 per person per ADI.
There are no establishment or account-keeping fees for BOQ term deposits. However, an early payout fee of $30 applies if you withdraw your funds before maturity, along with an interest rate adjustment.
* Different interest rates apply to different amounts or different interest payment frequencies.
^See information about the Mozo Experts Choice Term Deposit Awards
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