Website: http://www.boq.com.au

Authority: Bank of Queensland is an Australian bank with some locations throughout Australia but a major presence in the state of Queensland. It began in 1874 as a building society and converted to a bank in 1887. It is currently listed on the ASX (Australian Stock Exchange) and has as at 255 branches throughout Australia as 31 August 2010 (BOQ 2010 Annual Report).

How to open BOQ Term Deposit Account:

- You can apply for this at one of their physical branches located throughout Australia. You can find your nearest branch by using their search tool on their website.

- You may find out more about this product and how to open it by calling their telephone number on: 1300 55 72 72 

What information you may be required to provide to open this Bank of Queensland Term Deposit:

This may include but limited to your actual name, an address, a DOB or date of birth, TFN (not compulsory), occupation, trust information, name of account and signatories.

In particular, for new customers, you may be required to provide a current valid Australian Passport or drivers license.

Information on BOQ 1 Year Term Deposit Rates:

Banks throughout Australia including BOQ or Bank of Queensland when determining various interest rates for their deposit products factor in a few different aspects that affect the overall rate they set. Most importantly the RBA or Reserve Bank of Australia monetary policy which sets the 'Cash rate', which financial institutions such as BOQ, can charge to lend funds or pay to borrow within the money market on an overnight basis, otherwise known as the interbank overnight rate. Other factors include net interest margin on deposits, bank regulations, funding sources, liquidity requirements and deposit competitiveness from other banks. For one year term deposit maturities, banks may decide to use these inputs (including forecasting RBA monetary policy when required) with quantitative models such as discounted cash flow model when forecasting the interest rates to set.

The interest rates displayed below requires a minimum account balance of $1000 and is based on the term 12 less than 24. The current interest is based on amounts deposited over $5000 to $249,999