In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare pensioner bank accounts
  • Your reviews
  • Ask a question
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ANZ Pensioner Advantage account

ANZ Pensioner Advantage Account
Maximum variable rate
2.25% p.a.
Base interest rate
0.05%p.a.

Our verdict

Pay no account keeping fees and earn interest on your balance with this account designed specifically for pensioners.

It’s not common to find a transaction account that offers at-call access to your money, while also paying interest on your balance with no ongoing deposit conditions to meet. This makes the account really flexible, and a bit of a two-in-one account.

The interest rates are tiered, so you'll earn more interest on the highest portions of your balance. The maximum variable interest rate of 2.5% is for the portion of your balance that’s over $50,000.

However this account is limited to customers receiving a pension, for example the aged pension, disability support pension, a Centrelink pension or a Veterens’ Affairs pension.

Pros

  • No monthly service fee
  • Linked ANZ Visa debit card
  • 24/7 access to funds through Internet and phone banking

Cons

  • Eligibility criteria apply

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare pensioner bank accounts
  • Your reviews
  • Ask a question

The transition from a salary to a fixed income is not always easy, but the ANZ Pensioner Advantage account can help simplify your finances. This is a transaction account with no account fees, that gives you unlimited, easy access to your money. Plus unlike a typical transaction account, you can earn a competitive rate of interest on your funds.

Details

Key details

Product Name ANZ Pensioner Advantage Account
Maximum Variable Rate 2.25% p.a.
Standard Variable Rate 0.05% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

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No account keeping fees

The $0 fee normally charged for the ANZ Access Advantage is waived for Australians who qualify for this account.

Interest rates up to 2.5%

This account allows you to earn interest on your balance, while at the same time enjoying unlimited access to your funds. The interest rates are tiered, so you'll earn more interest on highest portions of your balance. The maximum variable interest rate of 2.5% is for the portion of your balance that is over $50,000.

Compare other ANZ products


How to apply

With the ANZ Pensioner Advantage you will need to call in order to open your account or visit your local branch. Before beginning, check that you are eligible for this account and have the appropriate documents handy.

Eligibility

  • Minimum age. The age requirement for this account is 60, however you can still qualify in some circumstances if you are receiving one of the below mentioned pensions or allowances.
  • Pension status. You must be receiving an eligible Centrelink pension or allowance, or a Veterans' Affairs pension or allowance.
  • Residency requirements. You must be an Australian resident with an Australian residential address.

Compare pensioner bank accounts

Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
ANZ Pensioner Advantage Account
Maximum Variable Rate p.a.
2.50%
Standard Variable Rate p.a.
2.50%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
NAB Retirement Account
Maximum Variable Rate p.a.
2.15%
Standard Variable Rate p.a.
2.15%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Westpac 55+ and Retired
Maximum Variable Rate p.a.
2.30%
Standard Variable Rate p.a.
2.30%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Commonwealth Bank Pensioner Security Account
Maximum Variable Rate p.a.
2.80%
Standard Variable Rate p.a.
2.80%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
IMB Wisdom Saver
Maximum Variable Rate p.a.
2.45%
Standard Variable Rate p.a.
2.45%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Bank Australia Pension Access Account
Green Company
Maximum Variable Rate p.a.
1.90%
Standard Variable Rate p.a.
1.90%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
AMP SuperEdge Pension Account
Maximum Variable Rate p.a.
0.60%
Standard Variable Rate p.a.
0.60%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
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Robert

August 09, 2023

If I transfer from another bank, will my direct debits be included?


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Sarah Megginson Finder

September 04, 2023

Hi Robert,


No, if you change banks you’ll need to set up all the direct debits again with your billers and provide them with your new bank details.


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Graeme

October 13, 2021

My Father used to get a statement for his ANZ Pensioner Advantage account every 2 months. He hasn’t had one for over 4 months now. Why would this change have occurred?


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Alison Banney Finder

October 21, 2021

Hi Graeme,


Perhaps the bank has switched to only electronic statements, which you can download from your Internet banking portal. However, as we are not ANZ I can’t tell you the exact reason for this. I would highly recommend you get in touch with ANZ by calling 1800008177. They should be able to tell you exactly the reason.


Regards,

Alison


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Rai

July 28, 2019

Hi! My name is Rai and I’m 12 years old. Am I allowed to get a Visa debit card?


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Joshua Finder

July 28, 2019

Hi Rai,


Thanks for getting in touch with Finder. I hope all is well with you. 😃


Typically, you need to be at least 14 years old to get your own Visa Debit card. However, some banks offer debit card access for children as young as 9 years old.


You may check our list of kids’ debit cards. On the page is a comparison table that lists banks who offer debit cards for minors and their minimum age requirement. Aside from that, you can also compare your options based on the details of the card.


When you are ready, press the ‘Go to site’ button to apply. Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.


I hope this helps. Should you have further questions, please don’t hesitate to reach out again.


Have a wonderful day!


Cheers,

Joshua


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Darryn

October 31, 2018

I have been on a disability support pension since 2002 to the present. In that time my anz account has charged me a monthly servicing fee. Is this correct. And if not. Can I claim that money back. As I feel they have been charging me fees that I shouldn’t have to. Thank you


Avatar

John Basanes Finder

November 01, 2018

Hi Darryn,


Thank you for leaving a question.


You may need to call the customer service support team of ANZ to state your claim. Please see the number here 1800 008 177 Monday – Friday, 8am-8pm (AEST). They may be able to waive this fee if you would be able to give a viable reason to not pay the fee. Hope this helps!


Cheers,

Reggie


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Michael

October 09, 2018

Where can I log in for my account?


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Joel Marcelo

October 09, 2018

Hi Michael,


Thanks for your inquiry.


You are given unlimited access to your money through ANZ ATMs, phone, and internet banking as well as free in-branch, cheque, and EFTPOS transactions. You may need to log in directly to your account from the ANZ website.


I hope this helps.


Cheers,

Joel


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