Bendigo Easy Retirement Account
- Maximum variable rate
- 2.50% p.a.
- Base interest rate
- 0.85%p.a.
Summary
Make saving for retirement simpler and easier with a low fee transaction account.
If you are over 55, and a self-funded retiree or on an aged or veterans pension, you can sign up for the interest-earning Bendigo Bank Easy Retirement account. With a minimum opening balance of $1, nationwide ATM access, linked debit card and no monthly account fees for eligible people, it’s a convenient and highly functional all-in-one choice for those who are 56 or older.
Pros
-
Unlimited phone banking transfers
-
Unlimited Bendigo ATM & branch withdrawals
-
Unlimited EFTPOS withdrawals and retail purchases within Australia
Cons
-
Available if you're over 55 years of age
Details
Key details
| Product Name | Bendigo Bank Easy Retirement Account |
| Maximum Variable Rate | 2.50% p.a. |
| Standard Variable Rate | 0.85% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $1 |
| Minimum Age | 56 |
Key features
Stepped interest rates
The interest rate offered on this account is stepped, meaning that you'll earn a higher rate of interest on the portion of your balance above a certain threshold. For example, for the portion of your balance beneath $10,000, you'll earn 0.85% interest. At the other end of the spectrum, you'll earn 2.5% p.a. on the portion of your balance that's $250,000 or greater.
Interest calculated daily
Interest is calculated daily making it easier to take advantage of the stepped interest rates as you are able.
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