In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Community First Bank Retirement Plus Account

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Community First Bank Retirement Plus Account
Maximum variable rate
2.50% p.a.
Base interest rate


Customise your retirement with a high interest-earning transaction account that lets you choose how to access your money.

The Community First Retirement Plus Account is for Australians over the age of 55, or those who are retired or receiving a pension. It gives all of the benefits of an easy-to-manage everyday account along with a higher rate of interest applied to the balance. In addition to interest earned, it carries a range of features and accessibility options to make sure you can keep getting use out of the account.


  • $0 monthly account keeping fee
  • Linked Visa debit card
  • Optional overdraft and cheque book facility
  • Designed for pensioners


  • Tiered interest rate
  • Only 0.10% p.a interest earned on balances up to $9,999

In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question


Key details

Product Name Community First Bank Retirement Plus Account
Maximum Variable Rate 2.50% p.a.
Standard Variable Rate 0.10% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 55

Key features

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Interest rates

Your balance earns interest in tiers, where the first $9,999 has a nominal rate applied while the balance between $10,000 and $99,999 will receive a higher rate. This rate increases to 2.5% for balances above $100,000.

Hand-in-hand functionality with the deeming rate

The tiered interest earned by this account works in line with the federal government deeming rates for pensioners. This account delivers interest rates of 2.5% for balances of $100,000, while the deeming rate for singles, or couples where neither earns a pension is 1.75% p.a. for the first $40,800. If you're earning the highest tiered interest rate with this account, your income for benefit purposes can still be assessed as though you were only earning 1.75% p.a, even though you're getting more money in the bank.

View more Community First accounts

How to apply


There are no employment requirements on who can apply for membership but you will be asked to pay a one-time $2 fee for your share. Other eligibility requirements to consider include:

  • Minimum age. In order for your application to be accepted you must be at least 55 years old, retired, or receiving one of the pensions mentioned above.
  • Residency requirements. Applications are accepted by Australian residents with a residential address in Sydney and the Central Coast Region.

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