Retirement Plus Account
Our Retirement Plus account specially designed for retirees with a flat rate of interest which provides security and peace of mind while your savings grow.
- Base rate
- 2.25%
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable May be applicable if your account becomes overdrawn | 11.96% | — | — |
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable Whole Balance | 2.25% | — | every 6 months |
Fees
| Fee | Type | Amount |
|---|---|---|
| Additional Statement Fee $1.50 per page. Payable if and when you request an additional statement. | Event | $5.00 |
| Counter Cash withdrawal fee up to $24,999 First 3 free if part of Reduced Fees program | Transaction | $2.00 |
| Default Notice Fee Payable if and when we send you a default notice for an overdrawn account where an arrears remains unremedied after we have sent you an arrears letter | Event | $21.50 |
| Direct Debit Dishonour Fee Direct Debit Dishonour Fee per transaction | Dishonour | $9.00 |
| Document Retrieval Fee Minimum $22.77 per hour retrieval fee and minimum $30 per hour administrative fee. Payable on request for documents to be retrieved | Event | $0.00 |
| Overdrawn Savings Account Fee Payable when any Savings Account is overdrawn by $75 or more within a calendar month Interest will also be charged at the then current Overdraft interest rate | Event | $15.00 |
Features
- Direct Credits. Make regular credits like your pay into this account
- Contributes to Reduced Fees Program. Simply maintain a combined monthly balance of $5000 or more worth of savings, investments or loans and you will receive more fee free ATM and EFTPOS transactions as well as qualify for fee rebates.
- Real-time payments (NPP)
- NPP allows participating banks and financial institutions to process, clear and settle Osko® Fast Payments (which are payments made and received in near real-time) and NPP Quick Payments.
- PayID
- Email Address. Select the Contact Method that you would like to use for your PayID i.e. your mobile number or email address.
- Digital banking
- Internet banking. You can pay bills via BPAY and check your account details or make transfers anytime or anywhere online with Internet Banking – the service is free.
- PayID
- Mobile Number. Select the Contact Method that you would like to use for your PayID i.e. your mobile number or email address.
Eligibility
- Residency status — Australian Citizen
- Minimum age — 18 years
- Residency status — Australian Residents
- Individuals onlyIndividuals
More Information
Published by Police Bank under the Consumer Data Right · Last updated 21 May 2026 · Product ID a644e75e-c2b7-43f9-a8f5-3417c491314f · View on CDR.gov.au