Bank of Queensland Term Deposit

A Bank of Queensland term deposit account allows you to invest with as little as $1,000 and allows you to manage your account over the phone or through internet banking. However, it is the bonus interest rates that the Bank of Qld offers to existing and loyal customers which may appeal to you. Rarely is our loyalty to a brand or company rewarded, but with a Bank of Qld term deposit account you may qualify for bonus interest on your investment.

Features of a Bank of Qld Term Deposit Account

Even if you don’t qualify for the bonus Bank of Qld term deposit rates, you can still get a great investment deal. To find out if a Bank of Queensland term deposit would suit you, learn more about more of their features:

Start investing with just $1,000. A $1,000 investment probably wouldn’t even be missed from your wages or savings account and it is a small price to pay to start a profitable term deposit investment cycle. As the Bank of Qld term deposit rates continue to rise in line with official interest rates, you could keep rolling over your initial $1,000 into a new term to grow your seemingly insignifican’t investment into a healthy investment fund for the future.
No account or transaction fees. Where an interest rate on a term deposit account or other investment return may sound attractive, your returns can easily be diminished by account keeping fees and transaction costs. This is especially important to look out for if you are considering a long term investment because fees which seem small at the start can add up over the years. That is why the Bank of Qld term deposits are fee free accounts.
Your choice of investment terms, up to five years. You can choose to invest in a term deposit account for as little as 28 days and as long as five years. So whether you have a long term investment goal, a medium term savings plan or a short term decision to make about your funds you can choose the right term.
You can choose to receive, reinvest or compound your interest. You can choose to receive monthly interest payments from your Bank of Queensland term deposit account, with this choice you will earn an interest rate 0.25% lower than the standard rates. Or you can choose to have your interest automatically reinvested by the Bank of Queensland, transferred electronically to a nominated bank account or paid out at maturity to allow the daily calculations to compound.
Phone and internet access to your term deposit. If you want to check the balance of your term deposit you can call a Bank of Qld representative, or you can simply log into internet banking at any time of the day or night.
Automatically reinvest for ease and ongoing returns. Automatically rolling over your term deposit at maturity means that you don’t have to think about your investment and as a result will be less tempted to withdraw and spend your balance. Instead you can choose to rollover just the principle, just the interest, or both, into the same term at the current Bank of Qld rate.
Bank of Queensland home loan customers can earn bonus interest. If you hold a Bank of Queensland Home Loan Privileges Package and invest between $25,000 and $250,000 in a term deposit account you can earn a bonus 0.25% interest on top of the standard Bank of Qld rates.
Bank of Queensland shareholders can earn bonus interest. If you are an eligible shareholder with the Bank of Qld you could earn an extra 0.10% interest on your term deposit.
You can apply over the phone or in branch. You can call the Bank of Queensland and have them complete a term deposit application over the phone, or you can visit a branch to discuss your term deposit options in person.

Compare the Bank of Queensland’s term deposit rates:

Interest rates are compared on deposits of $5,000 with interest paid at maturity.
On a one month investment you could earn 3.20% interest.
On a one year investment you could earn 6.35% interest.
On a five year investment you could earn 5.00% interest.

If you would like to see how the rates and features of a Bank of Qld term deposit account compare to other current term deposits available, use the Savings Account Finder™ comparison tables here. You can then follow the secure links from the comparison table to find out more about the top Australian term deposit accounts, and start an online application.