Commonwealth Bank Pensioner Security Account
- Maximum variable rate
- 2.80% p.a.
- Base interest rate
- 0.05%p.a.
Summary
Get more money from each dollar with an interest earning account that lets you make free transactions using your retirement cash.
The Pensioner Security Account is designed to give you financial peace of mind as you enter your retirement years. Your money earns a modest interest rate that increases as your balance grows, while you are still able to access your funds for free. This is a versatile account worth looking into if you want better manageability over your pension funds.
Pros
-
No monthly account fee
-
Up to 15 free electronic withdrawals per month
-
Competitive interest rate
Cons
-
Minimum opening amount required
Details
Key details
| Product Name | Commonwealth Bank Pensioner Security Account |
| Maximum Variable Rate | 2.80% p.a. |
| Standard Variable Rate | 0.05% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 55 |
Key features
No monthly account keeping fee
With the Pensioner Security Account there are no monthly or annual account keeping fees.
Transaction fees
There are no electronic transaction fees.
Compare other savings accounts
Your reviews
Alison Finder
Editor
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Richard Whitten Finder
January 22, 2024
Hi Garry,
I suggest contacting the Commonwealth Bank directly about this question.
coleen
November 03, 2023
I have approximately $170000 in my pensioner security account. How much interest would I be getting.
Richard Whitten Finder
November 06, 2023
Hi Coleen,
The interest rate on this product is 2.55% p.a. You can use a compound interest calculator to work out how much interest you could earn on this amount of money. If you have an account currently then the bank should be able to show you your interest earnings in your account statement.
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Max
November 02, 2023
Does a pensioner security account have chequebook access?
Richard Whitten Finder
November 06, 2023
Hi Max,
I suggest contacting the Commonwealth Bank directly with your enquiry, as the bank can give you more detailed guidance about chequebook access.
gary
August 24, 2023
How does 30k get stolen from security pension account from fraudulent transactions
Sarah Megginson Finder
September 04, 2023
Hi Gary,
If your account has been subject to fraud you should contact your bank ASAP to launch an investigation. Best of luck!
Michael
March 09, 2022
Can you tell me what this abbreviation in the Passbook for the Pensioner Security account means: CONS WB?
Alison Banney Finder
May 01, 2022
Hi Michael,
CONS WB most likely means consolidated charges on waybill. If you wish to confirm, please get in touch with your bank.
Regards,
Alison
Garry
January 22, 2024
Is there a fee for widrawing cash from my pensioner security account debit card at an Australian Post Office?