Bank of Melbourne Retirement Access Account
No conditions on the rate
Retirement Access Plus is a transaction account for eligible retirees aged 55 or over to deposit and withdraw funds by various channels including Visa Debit Card and also offers interest on account balances.
- Base rate up to
- 2.90%
- Introductory rate
- None
- Maximum balance
- None published
Rate a year, up to
Rates by balance
| Balance | Base rate |
|---|---|
| $0 to $10,000 | 0.05% |
| $10,000 to $50,000 | 1.95% |
| $50,000 to $250,000 | 2.30% |
| $250,000 and over | 2.90% |
Who can open it
- Age to open
- 55 and over
- Maximum balance
- None published
Who it's for
- You must be retired to be eligible for this product.
Limits and conditions
- The card must be linked to an eligible Bank of Melbourne account.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
2.90%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
2.90%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
- No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.
Cons
Nothing stands out.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 2.90%
- Bonus conditions
- None
- Most it pays
- 2.90%
- Bonus conditions
- None
- Most it pays
- 2.90%
- Bonus conditions
- None
