In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Newcastle Permanent Special Monthly Interest

Newcastle Permanent Special Monthly Interest Account
Account keeping fee
$0
ATM withdrawal fee
$0
Overseas ATM withdrawal fee
$5
Overseas transaction fee of transaction value
3%

Summary

Designed specifically for over-55s, retirees and pensioners, this account offers free everyday banking and presents a flexible alternative as a statement or passbook option.

Newcastle Permanent offers its mature customers this Special Monthly Interest Account that allows retirees to accumulate interest on their pensions. Customers also have free access to funds via online banking, transactions conducted on the telephone and mobile-phone banking. Customers can choose to set up a flexible or statement account, the latter including worldwide access with a Visa debit card.

Pros

  • No monthly account keeping fee
  • Free Internet, mobile and phone banking
  • Linked Visa debit card

Cons

  • A minimum of six free 'Everyday Transactions' each month

In this guide

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

Details

Key details

Product Name Newcastle Permanent Special Monthly Interest Account
Monthly account fee $0
Card access Visa
Own network ATM fee $0
International ATM Fee $5 + 3%
International transaction fee 3%
Monthly deposit required to waive account fee N/A
Contactless Payments Apple Pay, Google Pay

Eligibility

Minimum Age 55
Joint account availability Yes
Minimum opening deposit N/A
Residency status Permanent Australian residents with an Australian address

Key features

No monthly fees

Customers incur zero account-keeping and automatic-transfer fees. However, fees are payable for other services provided by the bank, so check the product schedule to avoid incurring unnecessary charges.

24/7 convenient access

With the Statement option, you can access your money via Visa debit card, cash card, personal cheques, internet and mobile-phone banking, automatic transfers, ATM withdrawals, EFTPOS transactions and in-branch transactions.


How to apply

Eligibility

If you're eligible and you'd like to apply for this account, here's how to get the process started. You have to meet the following criteria.

  • Age. Access to this account requires that you be 55 years old or older. You have to prove that you are receiving a government pension or that you're a member of the Association of Independent Retirees.
  • Identification. You will be asked to produce positive identification, which can include a national identity card or passport.

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