Bank of Queensland Premier Investment

2.65% p.a.1 year

yes

Bank of Queensland Premier Investment

2.65% p.a.1 year

yes

Mozo Review   Bank of Queensland Premier Investment Review

Last updated: 8 November 2018.

What's hot:
  • 2.45% interest rate (7 months)

  • No ongoing fees

What's not:
  • Automatic rollover at maturity

Mozo snapshot:

The Bank of Queensland Premier Investment term deposit has one of the markets best interest rates for a 7 month fixed term at 2.45%. It has no account maintenance or transaction fees so you can lock your money away knowing that all the interest you earn is yours to keep (or reinvest) and it is not being eaten away fees.

Key features:

The Bank of Queensland Premier Investment account comes with a wide range of terms to choose from starting from 28 days and up to 5 years. You can invest in a Bank of Queensland Premier term deposit from as little as $1,000 but the best rates are for investments of $5,000 and over. 

BOQ's top term deposit rate is the 3 year fixed term at 2.70%, followed by 2.65% for 4 years, and 2.60% for 2 years. Keep in mind these generous rates are only available for amounts from $5,000 to $250,000. 

Interest is calculated daily and paid at the end of your investment term or annually if you have a term longer than 12 months. There is a $30 early payout fee and an interest adjustment if you withdraw your funds early.

Who it's good for:

The Bank of Queensland Premier term deposit offers a good return for all investors who want to lock up their funds over $5,000 for a fixed term. If you're a BOQ Home Loan Privileges Package customer or a Bank of Queensland share holder you'll receive a 0.25% bonus interest rate in addition to the standard term deposit rates.

Any catches?

The Premier Investment term deposit has an automatic rollover, which means that you really need to make sure you keep a close watch on that rollover date otherwise you could find you've been locked into a new fixed term with a less competitive rate than what's on offer out in the market.

Details

Rates and fees information correct as at 21 February 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
  • 0.30% p.a. ($1,000 to $4,999)

    1.50% p.a. ($5,000 to $249,999)

  • 0.90% p.a. ($1,000 to $4,999)

    1.70% p.a. ($5,000 to $249,999)

  • 0.90% p.a. ($1,000 to $4,999)

    2.40% p.a. ($5,000 to $249,999)

  • 1.00% p.a. ($1,000 to $4,999)

    1.90% p.a. ($5,000 to $249,999)

  • 1.00% p.a. ($1,000 to $4,999)

    2.00% p.a. ($5,000 to $249,999)

  • 1.00% p.a. ($1,000 to $4,999)

    2.10% p.a. ($5,000 to $249,999)

  • 1.00% p.a. ($1,000 to $4,999)

    2.65% p.a. ($5,000 to $249,999)

  • 1.00% p.a. ($1,000 to $4,999)

    2.30% p.a. ($5,000 to $249,999)

  • 1.10% p.a. ($1,000 to $4,999)

    2.30% p.a. ($5,000 to $249,999)

  • 1.10% p.a. ($1,000 to $4,999)

    2.30% p.a. ($5,000 to $249,999)

  • 1.10% p.a. ($1,000 to $4,999)

    1.90% p.a. ($5,000 to $249,999)

  • 1.15% p.a. ($1,000 to $4,999)

    2.65% p.a. ($5,000 to $249,999)

  • 1.15% p.a. ($1,000 to $4,999)

    2.75% p.a. ($5,000 to $249,999)

  • 1.15% p.a. ($1,000 to $4,999)

    2.85% p.a. ($5,000 to $249,999)

  • 1.15% p.a. ($1,000 to $4,999)

    2.65% p.a. ($5,000 to $249,999)

  • 1.15% p.a. ($1,000 to $4,999)

    2.65% p.a. ($5,000 to $249,999)

Other financial bits
  • $1,000.00

  • $249,999.00

Features
  • direct credit

  • yes

  • yes

  • 31 days notice required if customers want to withdraw their funds before the maturity date.

  • none

*Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

How are Bank of Queensland term deposits rated by the Mozo community?

Overall customer rating
8.1/10
Price
7.7/10
Features
6.7/10
Customer service
8.1/10
Convenience
7.9/10
Trust
8.2/10

Latest reviews of Bank of Queensland Premier Investment

  • Overall
    9/10
    Competitive rates, wonderful customer service

    Having held this account for several years their rates have always been better than the rest....

    Having held this account for several years their rates have always been better than the rest. Their customer service is always great.

    Price
    9/10
    Features
    6/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    9/10

    Diana | Queensland

    reviewed about 5 years ago

  • Overall
    9/10
    Good rates and well-managed

    Interest rates have always been up front and competitive with the big banks in our area. The...

    Interest rates have always been up front and competitive with the big banks in our area. The interest has always been processed on time and reinvestment plans are always notified in writing with plenty of time to plan our next move.

    Price
    8/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    9/10

    Robert | Queensland

    reviewed about 5 years ago

  • Overall
    10/10
    Best return on our cash capital component

    Tried 8 banks and credit providers and by far the best was BOQ. The money we invested with them...

    Tried 8 banks and credit providers and by far the best was BOQ. The money we invested with them was .6% better and flexible with interest payable monthly which is essential to our everyday living costs as self funded retiree's. Great stuff!

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    John | Queensland

    reviewed about 5 years ago

  • Overall
    9/10
    Top rates offered

    Top interest rates with personal notifications of changes. Personally known to staff and offered...

    Top interest rates with personal notifications of changes. Personally known to staff and offered extra products on needs basis.

    Price
    10/10
    Features
    0/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    8/10

    Name not supplied | New South Wales

    reviewed over 5 years ago

  • Overall
    10/10
    Best service and all necessary types of accounts.

    Customer service is excellent. They provide all the services we need and at generally competitive...

    Customer service is excellent. They provide all the services we need and at generally competitive price.

    Price
    6/10
    Features
    6/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Robert | Queensland

    reviewed over 5 years 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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