St.George Bank Retirement Access Plus Account
- Maximum variable rate
- 2.30% p.a.
- Base interest rate
- 0.3%p.a.
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 $250,000 accrue interest at 2.3%.
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 | 2.30% p.a. |
| Standard Variable Rate | 0.30% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 55 |
Key features
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 $250,000 accrue interest at 2.3%. 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.
Your reviews
Alison Finder
Editor
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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
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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
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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
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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.