Bank of Queensland Premier Investment

2.70% p.a.1 year

yes

 

Bank of Queensland Premier Investment Review

Rates and fees information correct as at 17 August 2018.

Review published: 18 December 2012

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 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.

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

Product Type Overall Rating Price Features Service Convenience Trust
7.9

Based on 49
Bank of Queensland term deposits reviews

7.2 6.5 8.0 7.7 8.2

Read Bank of Queensland term deposit reviews by the Mozo community

Latest reviews of Bank of Queensland Premier Investment

Bank of Queensland

Bank of Queensland Premier Investment term deposit review

Overall rating   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 was .6% better and flexible with interest payable monthly which is essential to our everyday living costs as self funded retiree's. Great stuff!

Full review

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

Less

John (QLD), reviewed over 4 years ago

Bank of Queensland

Bank of Queensland Premier Investment term deposit review

Overall rating   9 / 10

Competitive rates, wonderful customer service

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

Full review

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

Less

Diana (QLD), reviewed over 4 years ago

Bank of Queensland

Bank of Queensland Premier Investment term deposit review

Overall rating   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 has always been processed on time and reinvestment plans are always notified in writing with plenty of time to plan our next move.

Full review

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

Less

Robert (QLD), reviewed over 4 years ago

Bank of Queensland

Bank of Queensland Premier Investment term deposit review

Overall rating   9 / 10

Top rates offered

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

Full review

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

Less

Mozo reviewer (NSW), reviewed almost 5 years ago

Bank of Queensland

Bank of Queensland Premier Investment term deposit review

Overall rating   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 price.

Full review

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

Less

Robert (QLD), reviewed about 5 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • 0.30% p.a. ($1,000 to $4,999)

    1.55% 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)

    2.00% 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)

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

  • 1.00% p.a. ($1,000 to $4,999)

    2.35% p.a. ($5,000 to $249,999)

  • 1.00% p.a. ($1,000 to $4,999)

    2.55% p.a. ($5,000 to $249,999)

  • 1.00% p.a. ($1,000 to $4,999)

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

  • 1.10% p.a. ($1,000 to $4,999)

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

  • 1.10% p.a. ($1,000 to $4,999)

    2.40% 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)

    2.70% p.a. ($5,000 to $249,999)

  • 1.15% p.a. ($1,000 to $4,999)

    2.60% 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)

  • 1.15% p.a. ($1,000 to $4,999)

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

  • yes

  • yes

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

  • none

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.

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

Compare other term deposits
Advertisement