The Bank of Queensland Term Deposit has rates on offer for terms from 1 month through to 5 years. 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.
The Bank of Queensland Term Deposit 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 0.95% on a term of 12 to 60 months. Keep in mind these rates are only available for deposit 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. You can also choose to have it paid either into your Bank of Queensland account, or into an account with another bank.
There is a $30 early payout fee and an interest adjustment if you withdraw your funds early, plus you'll need to give 31 days notice.
The Bank of Queensland Term Deposit is best for savers with at least $5,000 to lock away, otherwise, the interest rates are not too hot. 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.
The 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.
0.15% p.a. ($1,000 to $4,999)
0.20% p.a. ($5,000 to $249,999)
0.30% p.a. ($1,000 to $4,999)
0.40% p.a. ($5,000 to $249,999)
0.30% p.a. ($1,000 to $4,999)
0.75% p.a. ($5,000 to $249,999)
0.30% p.a. ($1,000 to $4,999)
0.70% p.a. ($5,000 to $249,999)
0.30% p.a. ($1,000 to $4,999)
0.70% p.a. ($5,000 to $249,999)
0.30% p.a. ($1,000 to $4,999)
0.70% p.a. ($5,000 to $249,999)
0.30% p.a. ($1,000 to $4,999)
0.85% p.a. ($5,000 to $249,999)
0.30% p.a. ($1,000 to $4,999)
0.70% p.a. ($5,000 to $249,999)
0.50% p.a. ($1,000 to $4,999)
0.70% p.a. ($5,000 to $249,999)
0.50% p.a. ($1,000 to $4,999)
0.70% p.a. ($5,000 to $249,999)
0.50% p.a. ($1,000 to $4,999)
0.70% p.a. ($5,000 to $249,999)
0.50% p.a. ($1,000 to $4,999)
0.95% p.a. ($5,000 to $249,999)
0.50% p.a. ($1,000 to $4,999)
0.95% p.a. ($5,000 to $249,999)
0.50% p.a. ($1,000 to $4,999)
0.95% p.a. ($5,000 to $249,999)
0.50% p.a. ($1,000 to $4,999)
0.95% p.a. ($5,000 to $249,999)
$1,000.00
$249,999.00
direct credit
yes
yes
31 days notice required if customers want to withdraw their funds before the maturity date.
none
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!
Read full reviewTried 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!
Having held this account for several years their rates have always been better than the rest. Their customer service is always great.
Read full reviewHaving held this account for several years their rates have always been better than the rest. Their customer service is always great.
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.
Read full reviewInterest 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.
Top interest rates with personal notifications of changes. Personally known to staff and offered extra products on needs basis.
Read full reviewTop interest rates with personal notifications of changes. Personally known to staff and offered extra products on needs basis.
Customer service is excellent. They provide all the services we need and at generally competitive price.
Read full reviewCustomer service is excellent. They provide all the services we need and at generally competitive price.
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.