BOQ Smart Saver Review (2026)
Rates and conditions verified 18 May 2026
Rates can change without notice. Last verified: 18 May 2026 (AEST). Please confirm details on the bank’s official page.
Smart Saver rate (36+)
4.85%
p.a. up to $250,000
Future Saver rate (14–35)
5.50%
p.a. up to $50,000
Base rate
0.05%
p.a. if conditions missed
BOQ Smart Saver vs Future Saver
Bank of Queensland (BOQ) offers two conditional bonus savings accounts depending on your age:
| Account | Age | Bonus rate | Balance cap |
|---|---|---|---|
| Future Saver | 14–35 | 5.50% p.a. | Up to $50,000 |
| Smart Saver | 36+ | 4.85% p.a. | Up to $250,000 |
Both accounts require the same monthly conditions. Rates effective from latest BOQ update. Check BOQ's website for the latest rates.
The Monthly Conditions — Explained
Condition 1 — Credit $1,000+ to BOQ Everyday
Credit at least $1,000 electronically to your linked BOQ Everyday account each calendar month. This can be salary, a bank transfer, or any other electronic credit from an external source.
Condition 2 — 5+ eligible transactions
Make at least 5 eligible transactions from your BOQ Everyday account in the prior calendar month. Eligible transactions include debit card purchases, BPAY payments, and direct debits.
Pros and Cons
Pros
- ✓ Future Saver (under 35): 5.50% p.a. — very competitive
- ✓ Smart Saver: $250,000 balance cap — higher than many accounts
- ✓ No minimum opening deposit
- ✓ No account keeping fees
- ✓ ASX-listed bank, Government deposit guarantee up to $250,000
Cons
- ✗ Smart Saver (36+) rate of 4.85% is lower than challenger banks
- ✗ Future Saver bonus rate caps at $50,000
- ✗ Requires linked BOQ Everyday account
- ✗ Base rate (0.05%) is very low if conditions are missed
How It Compares
- ING Savings Maximiser: 5.50% — no age restriction, no balance cap
- Suncorp Growth Saver: 5.50% — $200 net growth + max 1 withdrawal
- BOQ Future Saver (under 35): 5.50% — capped at $50k
- BOQ Smart Saver (36+): 4.85% — up to $250k
- CommBank GoalSaver: 5.00% — no balance cap
Information verified 18 May 2026. Rates variable and subject to change. Confirm current rates and conditions on BOQ's website before applying. This is not financial advice.