Bank of us Pension Advantage
No conditions on the rate
If you receive a pension and need an everyday account, then the Pension Advantage delivers you the freedom to bank how and when you want and the ability to minimise or avoid transaction fees altogethe
- Base rate up to
- 2.05%
- Introductory rate
- None
- Maximum balance
- None published
Rate a year, up to
Rates by balance
| Balance | Base rate |
|---|---|
| $0 to $2,000 | 0.00% |
| $2,000 to $39,400 | 1.55% |
| $39,400 and over | 2.05% |
Who can open it
- Age to open
- Any
- Maximum balance
- None published
Who it's for
- To be eligible for the Pension Advantage product you must receive an Aged, Australian War Veterans or Disability Pension from the Department of Social Security (Centrelink) or Department of Veteran Affairs and be a holder of a current Pensioner Concession Card or Repatriation Health Card. For joint accounts, at least one of the account holders must satisfy this criteria to be eligible.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
2.05%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
2.05%
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
- A lower rate. Up to 2.05%, below the typical 3.65%, so your savings grow more slowly than in many other accounts.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 2.00%
- Bonus conditions
- None
- Most it pays
- 2.00%
- Bonus conditions
- None
- Most it pays
- 2.00%
- Bonus conditions
- None
