This increase of 25 basis points (0.25%) comes into effect Wednesday November 16. 

In similar fashion to last month, the new 4.35% rate on offer by BOQ surpasses ING by 0.05% to stake its claim once more as the highest savings account rate available based on Savings.com.au's market research. 

The new Future Saver rate is available for Aussies aged 14-35 with a maximum balance of $50,000. 

Interest earned on balances between $50,001 to $250,000 will lift to 2.75% p.a. 

To receive the total 4.35% p.a. rate, savers must deposit $1,000 and make five settled card transactions on their linked Everyday Account every month.

@savings.com.au Bank of Queensland has come to the savings party in November, increasing its Future Saver account to a market-leading rate of 4.35% p.a. from Wednesday November 16! 💰 Head to savings.com.au for more info! #fintok #fintokaustralia #bankingaustralia #banking #savingsaccounts #savings #ausfinance #bankofqueensland #boq #ing ♬ original sound - Savings.com.au

BOQ will also increase:

  • Smart Saver account for customers aged 36 and over by 0.25% to 3.85% p.a. for balances between $1 and $250,000.
  • Simple Saver by 0.25% to 2.50% p.a. for balances up to $5 million.

November's 4% Savings Club

Bank Rate Per Annum Conditions
Bank of Queensland 4.35% Ages 14-35, max balance $50k, deposit $1,000/mo, 5 card transactions
ING 4.30% Max balance $100k, deposit $1,000/mo, 5 card transactions, higher balance at end of month
Rabobank 4.25% 4 month variable intro rate, reverts to 3.00% p.a. max balance $250k
Macquarie 4.25% 4 month fixed intro rate, reverts to 3.45% p.a. max balance $250k
Virgin Money 4.15% Max balance $250k, deposit $2,000/mo, 5 card transactions 

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