Bendigo Easy Retirement Account
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.
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% interest. At the other end of the spectrum, you'll earn 0.3% 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.
Low and no account fees
Account-holders who deposit 2,000 or more per month, or have eligible Bendigo Bank home, contents, vehicle, landlords, boat or caravan insurance, home loans or managed funds, have no monthly fees at all. A $3 per month account keeping fee applies for others.
Unlimited transfers, many options and a linked debit card mean you can access your money as needed in the way you choose.
Use hundreds of ATMs and bank branches around Australia to conduct transactions.
Linked debit card
The Bendigo Blue Debit Mastercard comes with the account, letting you get at your account wherever Mastercard is accepted.
Keen travellers can enjoy worldwide access to card transactions including tap-and-go, and overseas cash-out at ATMs or in stores.
How to applyIf 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.
- 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.
- Depository requirements. A minimum $1 initial deposit is required to open the account.
- Identification. You will need to provide appropriate personal identification documents, including proof of age, to open an account.
- Pensioner card. You will be required to provide evidence of and information on your pensioner status.
What happens after I submit my application?
After signing up Bendigo Bank will verify the information provided, after which your account information and debit card, if applicable, will be sent to you. Once you receive confirmation from Bendigo Bank, your account is ready to use.