Bank of Queensland

From small beginnings in regional Queensland in 1874, Bank of Queensland has become the nation’s fastest growing retail bank with some 200 branches around Australia.

A focus on customer service, you will deal with local owner-managers at each branch to help with your banking needs through BOQ.

What products does Bank of Queensland offer to its customers?

Please see the table below for a list of available products.

Bank of Queensland

From small beginnings in regional Queensland in 1874, Bank of Queensland has become the nation’s fastest growing retail bank with some 200 branches around Australia.

A focus on customer service, you will deal with local owner-managers at each branch to help with your banking needs through BOQ.

What products does Bank of Queensland offer to its customers?

Please see the table below for a list of available products.

Clear Path Investment Line of Credit

Variable
Rate 5.22
Comparison
Rate

Clear Path Line of Credit

Variable
Rate 4.78
Comparison
Rate

Clear Path Variable Investment Rate Home Loan

Variable
Rate 4.62
Comparison
Rate 4.75

Clear Path Variable Rate Home Loan

Variable
Rate 3.99
Comparison
Rate 4.13

Clear Path Variable Rate Home Loan Interest Only

Variable
Rate 4.38
Comparison
Rate 3.76

Intro Rate Home Loan INV IO (80% LVR)

Variable
Rate 2.99
Comparison
Rate 3.37

Intro Rate Home Loan INV IO (90% LVR)

Variable
Rate 3.24
Comparison
Rate 3.41

Intro Rate Home Loan INV P&I (80% LVR)

Variable
Rate 2.84
Comparison
Rate 3.34

Intro Rate Home Loan INV P&I (90% LVR)

Variable
Rate 3.14
Comparison
Rate 3.39

Intro Rate Home Loan OO IO (80% LVR)

Variable
Rate 2.99
Comparison
Rate 3.22

Intro Rate Home Loan OO IO (90% LVR)

Variable
Rate 3.42
Comparison
Rate 3.29

Intro Rate Home Loan OO P&I (80% LVR)

Variable
Rate 2.79
Comparison
Rate 3.18

Intro Rate Home Loan OO P&I (90% LVR)

Variable
Rate 2.99
Comparison
Rate 3.22

Investment Economy

Variable
Rate 3.67
Comparison
Rate 3.83

Investment Economy Discount Rate (max 70% LVR)

Variable
Rate 2.79
Comparison
Rate 2.96

Investment Economy Discount Rate (max 80% LVR)

Variable
Rate 2.84
Comparison
Rate 3.01

Investment Economy Interest Only

Variable
Rate 4.02
Comparison
Rate 3.97

Investment Economy IO Discount Rate (max 80% LVR)

Variable
Rate 2.99
Comparison
Rate 3.56

Investment Fixed Loan

Variable
Rate
Comparison
Rate

Investment Fixed Loan Interest Only

Variable
Rate
Comparison
Rate

Owner Occupied Economy

Variable
Rate 3.32
Comparison
Rate 3.48

Owner Occupied Economy Discount Rate (max 70% LVR)

Variable
Rate 2.59
Comparison
Rate 2.76

Owner Occupied Economy Discount Rate (max 80% LVR)

Variable
Rate 2.64
Comparison
Rate 2.81

Owner Occupied Economy Interest Only

Variable
Rate 3.80
Comparison
Rate 3.67

Owner Occupied Fixed Loan

Variable
Rate
Comparison
Rate

Owner Occupied Fixed Loan Interest Only

Variable
Rate
Comparison
Rate

Fixed Rate Flexible Car Loan

1st year Fixed
Rate 7.39
Comparison
Rate. 8.19

Unsecured Fixed Rate Flexible Personal Loan

1st year Fixed
Rate 10.99
Comparison
Rate. 11.71

Unsecured Personal Overdraft

1st year Fixed
Rate
Comparison
Rate.

BOQ Blue Visa Card

Purchase
Rate 20.74
Annual
Fee $60.00

BOQ Low Rate Visa Card

Purchase
Rate 13.49
Annual
Fee $55.00

BOQ Platinum Visa Card

Purchase
Rate 20.74
Annual
Fee $129.00

Bonus Interest Savings Account

Max Interest rate($10,000) 1 Base Interest rate($10,000) 0.05

Cash Management Account (Transaction account)

Max Interest rate($10,000) 1 Base Interest rate($10,000) 0.35

Day2Day Plus Account

Max Interest rate($10,000) 1 Base Interest rate($10,000)

Fast Track Saver Account

Max Interest rate($10,000) Base Interest rate($10,000) 0.05

Fast Track Starter Account (for 14-24 years old)

Max Interest rate($10,000) Base Interest rate($10,000) 0.05

Pension Plus

Max Interest rate($10,000) Base Interest rate($10,000) 0.50

Reverse Charges Account

Max Interest rate($10,000) 1 Base Interest rate($10,000)

Premier Investment

90 Days

0.20
1 Yr Paid
Annually 0.30

Premier Investment

90 Days

0.35
1 Yr Paid
Annually 0.50

What transaction accounts do Bank of Queensland offer?

Depending on your circumstances and life cycle, BOQ has different options to suit your needs.

  • Day2Day Plus Account – an everyday account with unlimited transactions, contactless payments through Visa Debit and no monthly account fees.
  • Cash Management Account – maintain a monthly minimum balance of $5,000 for bonus interest balances. Unlimited monthly transactions if you maintain the minimum balance. Come with a Visa Debit card.
  • Pension Plus Account – a high interest transaction account for eligible pensioners with no limits on deposits or withdrawals, no account fees and up to 0.5% p.a. interest on balances over $45,401.

What savings accounts do Bank of Queensland offer?

Dubbed the serious savings accounts, BOQ offer a variety of savings accounts to suit most banking needs.

  • Fast Track Starter Account – designed for 14-24 year olds to reach their savings goals. Deposit $200 or more with 5 eligible transactions on your linked Day2Day Plus Account and earn 3% p.a.
  • Fast Track Saver Account – earn 1.05% p.a. (including the bonus rate of 1.00%) when you deposit $1000 and make 5 eligible transactions.
  • Bonus Interest Savings Account – no minimum balance, no monthly account fees and you can still earn the full bonus rate of 0.65% p.a. even if you make one withdrawal.
  • WebSavings Account – for the online saver you can earn the bonus 0.65%p.a. for four months on balances over $2000.
  • Kids Savings Account – for kids under 14 you can start earning them compound interest. Deposit only access for the linked child.

What deposit accounts are offered by Bank of Queensland?

  • Term Deposits – for balances over $5,000 earn 0.55%p.a. up to $249,000 from 12 to 24 months. MInimum investment of $1000 with flexible terms. Choose how and when your interest is paid either monthly, quarterly, half yearly or annually.

What is online banking like with Bank of Queensland?

Banking online or mobile with BOQ is simple. You can easily order statements, review transaction history, see your balance, pay bills and apply for some Bank of Queensland Accounts.
The mobile app is also relatively easy to use and allows you to locate your nearest ATM, check home loan offers and use the BOQ calculators.

What are some of the positives of banking with Bank of Queensland?

  • Introductory and bonus rates – Bank of Queensland will often add a bonus rate onto their variable interest rate, providing you meet the terms specified for the product.
  • No fees – Bank of Queensland mostly waives monthly fees on their accounts, even more often have fees you can avoid by meeting particular terms and conditions on the account.
  • Branches – Bank of Queensland have almost 200 branches around the country and allows you to make transactions at local branches without having to pay any fees.

What are some of the considerations with Bank of Queensland?

  • Conditions apply – the bonus rate offers on all Bank of Queensland accounts often come with specific conditions you must meet in order to receive the bonus interest or avoid penalties.
  • Minimum balances – some accounts with BOQ have changing terms based on the amount held in the account, and you can often get a higher bonus interest rate if you reach the minimum balance.
  • Withdrawal limits – for some banking products you can lose your bonus rate if you make more than one withdrawal for the month. This can be considered a negative for some bankers.

How do I apply for an account with Bank of Queensland?

An application for Bank of Queensland takes around 10 minutes online to complete. You will need to have your personal documents and ID ready to be able to complete the application.

All savings account holders with Bank of Queensland must be an Australian residents. You will need to show proof of an Australian residential address and a current Australian bank account. For some accounts applicants can be just 15 years old to open an account.

In some cases you may need to head into a branch if you are unable to complete your identification verification online.

Compare Bank of Queensland savings rate with other savings accounts and other term deposits in Australia.