In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

BankSA Retirement Access Plus

  • Avatar
BankSA Retirement Access
Maximum variable rate
2.30% p.a.
Base interest rate
0.3%p.a.

Summary

Australian retirees can bank the way they want with a flexible transaction account that has their needs in mind.

The Retirement Access Plus account from BankSA has no monthly account fees and offers unlimited transactions. It's designed to meet your changing needs as you leave the workforce. You are given multiple means of accessing your money including a Visa debit card to make purchases and free ATM withdrawals. If you are over 55 and are no longer working, then this is an account that could help you enjoy your retirement years.

Pros

  • No monthly account service fee
  • Linked Visa debit card
  • Unlimited transactions
  • Earn interest with at-call access to savings

Cons

  • Must be over 55 years old

In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name BankSA Retirement Access
Maximum Variable Rate 2.30% p.a.
Standard Variable Rate 0.30% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $1
Minimum Age 55

Key features

Picture not described

Tiered interest rate

Interest on this account is tiered. Balances over $250,000 accrue interest at 2.3%. Interest is calculated daily and paid into the account monthly.

No strings attached

Unlike other savings accounts, there is no condition you need to meet to earn interest. You don't need to make a certain number of deposits each month and you still earn interest if you make withdrawals. Plus, there is no minimum account balance required.


How to apply

Eligibility

In order to apply for this account you must either call or visit your local BankSA branch. Before heading there you should first check to make sure that you are eligible for the BankSA Retirement Access Plus:

  • Minimum age. Applicants must be at least 55 years of age and no longer working, or collecting one of the pensions mentioned above.
  • Residency requirements. This account is only made available to Australian residents who have an Australian residential address.

Compare other savings accounts

1 - 15 of 186
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
AMP Saver Account
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
1.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1000 in previous month
  • Balances up to $250,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Make a deposit
  • Grow your balance
  • 5 debit card purchases
  • Balances up to $30,000
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
First Option Bank Savings+Bonus Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balances up to $249,999
Go to siteView details
Easy Street Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.01%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50+ each month
  • No withdrawals
  • Balances up to $5,000,000
Go to siteView details
MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20
  • 5 debit card purchases
  • Balances up to $250,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
St.George Maxi Saver
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.10%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
Max Variable Rate includes 0.35% p.a. for 3 months for new customers who apply online
BCU Bonus Saver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
loading
Showing 15 of 15 results

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

Chris

January 04, 2022

Can I use my retirement access plus account as a settlement account for share purchases made through St. George Directshares?


Avatar

Alison Banney Finder

January 25, 2022

Hi Chris,


It looks like you can settle your trades with an eligible St.George transaction account or margin loan only, not another external account. However,

I’d suggest speaking with St.George directly to confirm your situation.


Regards,

Alison


Avatar

Rachael

January 30, 2019

Hi i was wondering how long it takes for a bank wire to be in my account from the united states


Avatar

Bella

February 01, 2019

Hi Rachael,


Thanks for your inquiry.


Bank transfers can take anywhere from one to five business days to process, and the same goes for online transfers. If it takes more than five business days, you can check with your bank on what could be causing the delay.


I hope this helps.


Kind regards,

Bella


Show more Show less
Avatar

Jimbo

December 02, 2016

Is BankSA Retirement Access Plus account classified as a ‘savings account’ or a ‘deeming account? for Centrelink purposes?


Avatar

Jason Finder

December 02, 2016

Hi Jimbo,


Thank you for your inquiry,


The BankSA Retirement Access Plus account seems to be a low fee daily transaction account that offers deeming rates. This account is meant for retirees and could help manage the funds of depositors who receive pension or Centrelink payments. This would not be an ideal account for someone who is still earning while working and for someone who’s looking for a high yield savings account.


Please check out the list of high-interest savings accounts offered by several banks. You may select the ‘Go to site’ button of your preferred savings account for further inquiry about the selected savings account and to apply online.


Kind regards,

Jason


Show more Show less
Go to site