In this guide

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

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Bendigo Bank 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 low to no 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

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 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.

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Key features

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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.

Compare more banking products from Bendigo


How to apply

If you've compared the Easy Retirement account to the other options available, and find it to be right for your needs, you will need the following for to complete your application.

Eligibility

  • Minimum age. You must be over the age of 55 to open a Bendigo Bank Easy Retirement account.
  • Pension requirements. You must be either a self-funded retiree or the recipient of a Centrelink aged pension or Department of Veterans Affairs administered pension.

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