Summary

The Retirement Access Plus is St.George’s hybrid bank account and savings account that rewards you with interest and no account fees — no strings attached.

Half transaction account and half high interest savings account, the Retirement Access Plus is St.George’s all in one retirement banking product. Get rewarded with a competitive tiered approach to interest and no monthly fees. Balances over $0 accrue interest at 2%.

Pros

$0 monthly service fee
Enjoy unlimited transactions
Linked Visa debit card

Cons

Designed for people at least 55 years of age

Details

Key details

Product Name	St.George Retirement Access Plus Account
Maximum Variable Rate	2.00% p.a.
Standard Variable Rate	0.05% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	55

Key features

Picture not described

Competitive interest rates

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. Interest on this account is tiered. Balances over $0 accrue interest at 2%. Interest is calculated daily and paid into the account monthly.

Enjoy unlimited access to your money

The Retirement Access Plus Account is a savings account with debit card access. You can make an unlimited number of everyday banking transactions including staff-assisted transactions and EFTPOS transactions within Australia for free. There is no minimum balance requirement for this.

No account fees

The St.George Retirement Access Plus Account does not charge an application fee or any ongoing monthly account fees.

Unlimited Internet banking

Internet banking lets you view your account balance, make payments to other accounts, pay bills via BPAY and review electronic statements. The online application for the St.George Retirement Access Plus Account includes a step to register for Internet banking.

Access free ATM withdrawals

Pay no withdrawal fees when using any St.George. Ban of Melbourne, Bank SA or Westpac branded ATM in Australia. However, you may be charged a fee if you use another third party ATM.

Eligibility

You can apply for this account if you're over 55 and you're retired. You can also apply for this account if you're claiming an aged pension, carers pension, disability pension, widow pension or veterans affairs pension. You will need to show a pension card at a St.George branch if you want to apply for this account and you're under 55.

How to apply

Eligibility

Before you apply check your eligibility for the Retirement Access Plus Account below.

You must be over the age of 55 and retired or receiving a pension such as the aged pension, carers, disability, widow and veterans affairs pensions.

Documentation needed

The application can be completed in under 10 minutes. You'll be asked to provide some information about yourself such as:

Identification. Enter your basic contact information such as your name, age, address, mobile number and email. If this is your first St.George Bank account, you will need to verify your identity before the account is fully active. You can complete this step online. Provide one primary form of photographic identification such as your driver's licence or passport, or one primary non-photographic document and a secondary form of identification such as your Centrelink card and medicare card.
Tax File Number (TFN). You need to provide your TFN to St.George so they can tax your earnings at the correct rate. You don't have to give your TFN when you apply for the account; however, you will be taxed at the marginal rate if you don't submit your TFN to the bank.

What happens after I submit my application?

After you've submitted the application, you'll get an email from the bank about the next steps. You may need to visit a St.George branch to verify your identity in person. Once St.George have verified your identity, you should be able to start making deposits and log into internet banking right away. Your debit card will arrive in the mail within 10 to 14 days.

Compare other savings accounts

9 of 180

Product	Finder Score	Maximum Variable Rate p.a.	Base interest rate	Intro/Ongoing	Government Guarantee	Monthly Max Rate Conditions
Finder score 8.1 Great Rabobank High Interest Savings Account	Finder score 8.1 Great	Maximum Variable Rate p.a. 5.15%	Standard Variable Rate p.a. 3.70%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Balances up to $250,000	Earn a high interest rate of 5.15% for the first 4 months and then 3.7% thereafter, with $0 account keeping fees and no monthly balance requirements.	Go to site More info Compare product selectionCompare	loading
Finder score 9.1 Excellent Suncorp Bank Growth Saver Account	Finder score 9.1 Excellent	Maximum Variable Rate p.a. 4.55%	Standard Variable Rate p.a. 0.15%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Grow balance by $200 each month (excl. interest) Only 1 withdrawal No balance limit on earning interest	Get a solid interest rate on your entire balance, with minimal conditions in order to get the max rate. This account doesn’t offer card access but you can make 1 withdrawal per month & grow your net balance by $200 (excl. interest) to earn the max rate.	Go to site More info Compare product selectionCompare	loading
Finder score 9.4 Excellent Ubank Save Account Finder AwardExclusive	Finder score 9.4 Excellent	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 0.00%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Deposit $500 Savings up to $1,000,000	5% p.a. welcome bonus rate for new customers for the first 4 months, then an ongoing bonus rate of 4.6% p.a. when monthly deposit condition is met. Use code FINDER20 to score $20 after 5 card purchases in your first 30 days. See terms link on the app store.	Go to site More info Compare product selectionCompare	loading
Finder score 9.1 Excellent AMP Bank GO Save	Finder score 9.1 Excellent	Maximum Variable Rate p.a. 4.50%	Standard Variable Rate p.a. 4.50%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $0 - $250,000	Go to site More info Compare product selectionCompare	loading
Finder score 9.1 Excellent Macquarie Savings Account	Finder score 9.1 Excellent	Maximum Variable Rate p.a. 4.85%	Standard Variable Rate p.a. 4.50%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Balances up to $250,000	Earn a welcome variable rate of 4.85% p.a. for the first 4 months on balances up to $250k, then 4.5% p.a. ongoing variable rate on balances up to $1m. There are no monthly requirements to earn interest.	Go to site More info Compare product selectionCompare	loading
Finder score 8 Great Newcastle Permanent Smart Saver Account	Finder score 8 Great	Maximum Variable Rate p.a. 4.00%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Grow balance No more than 2 withdrawals	Go to site More info Compare product selectionCompare	loading
Finder score 9.2 Excellent St.George Incentive Saver	Finder score 9.2 Excellent	Maximum Variable Rate p.a. 4.65%	Standard Variable Rate p.a. 0.40%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Grow balance $50 ($0.01 if under 21) Balance up to $249,999.99	Go to site More info Compare product selectionCompare	loading
Finder score 9.7 Excellent ING Savings Maximiser Most Loved	Finder score 9.7 Excellent	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Deposit $1,000 5 transactions Grow your balance Balances up to $100,000	Go to site More info Compare product selectionCompare	loading
Finder score 9.6 Excellent Westpac Life (18-29 year olds only)	Finder score 9.6 Excellent	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 0.40%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Make a deposit Grow your balance 5 debit card purchases Balances up to $30,000	Go to site More info Compare product selectionCompare	loading

Showing 9 of 9 results

How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. St.George Bank Retirement Access Plus Account information page
2. St.George Bank Retirement Access Plus Account TMD

Your reviews

No reviews yet. Write a review

Ask a question

To ask a question simply log in via your email or create an account.

Ask a question

Alison Finder

Editorial Manager, Money

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

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.

Allan

October 31, 2023

Has St George indicated how long they will maintain their cheque account. Suncorp and Bank of Sydney are closing their cheque accounts soon. Do you know which other banks are following suit.

Richard Whitten Finder

November 06, 2023

Hi Allan,

I have not been able to find anything on this topic. I suggest contacting the bank directly.

Ben

October 12, 2023

If I had $20,000 in a St.George Bank Retirement Access Plus Account, what approximate interest rate would I receive on it?

Sarah Megginson Finder

October 13, 2023

Hi Ben,

Current interest rates on this product as of today are:

0.30% p.a.

Balances up to $9,999.99

1.50% p.a.

On the part of the balance between $10,000.00 to $49,999.99

1.85% p.a.

On the part of the balance between $50,000.00 to $249,999.99

2.30% p.a.

On the part of the balance $250,000 or over

Show more Show less

Jenny

February 03, 2020

Is it correct that funds in a St George Retirement Access Account can be a tax deduction

Nikki Angco

February 04, 2020

Hi Jenny,

Thanks for your comment and I hope you are doing well.

It’s helpful to know that as this is a standard everyday transaction account for people aged over 55 the money can’t be claimed as a tax deduction.

Hope this helps and feel free to reach out to us again for further assistance.

Best,

Nikki

Show more Show less

Dawn

February 09, 2017

Can I have more than one Retirement Access Plus Cheque account? I would like to have two separate fee free savings accounts so as to keep track of income and spending.

May Finder

February 09, 2017

Hi Dawn,

Thanks for getting in touch.

Yes, you can open two accounts so long that you will put the pension into both accounts.

If in case, you may also like to check other retirement savings accounts featured on our website. On that page, you should know more about how retirement savings accounts work.

I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

Have a wonderful day!

Cheers,

May

Show more Show less

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

St.George Bank Retirement Access Plus Account

Pros

Cons

Key features

Competitive interest rates

Enjoy unlimited access to your money

No account fees

Unlimited Internet banking

Access free ATM withdrawals

Eligibility

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other savings accounts

How the Finder Score helps you find a better savings account

Sources

Your reviews

Important information about this website

Advertiser disclosure

How we make money

Sorting and ranking products

Terms of service and privacy policy