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 |
Savings Bank Customer Satisfaction Highly Commended:
Bendigo
Bendigo took second place in our savings banking category this year, with 91% of the users that we surveyed saying they'd recommend the bank to a friend. Its customer satisfaction rating was 4.36 out of 5. Find more about Finder Banking Satisfaction Awards 2023.
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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Alison Finder
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