Police Bank
Retirement Plus Account
Our Retirement Plus account specially designed for retirees with a flat rate of interest which provides security and peace of mind while your savings grow.
Savings & transaction accountsBank updated 29 July 2026
At a glance
- Base rate
- 2.25%
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableMay be applicable if your account becomes overdrawn | — | — | — | 11.96% | — | — |
| VariableWhole Balance | — | — | — | 2.25% | — | paid every 6 mo |
§ 02 — Fees · 10
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Direct Debit Dishonour Fee | Dishonour | $9 | — | Direct Debit Dishonour Fee per transaction |
| Additional Statement Fee | Event | $5 | — | $1.50 per page. Payable if and when you request an additional statement. |
| Default Notice Fee | Event | $21.50 | — | Payable if and when we send you a default notice for an overdrawn account where an arrears remains unremedied after we have sent you an arrears letter |
| Document Retrieval Fee | Event | No fee | — | Minimum $22.77 per hour retrieval fee and minimum $30 per hour administrative fee. Payable on request for documents to be retrieved |
| Dormant Accounts fee | Event | $10 | — | After 3 years an account is classed as dormant if no Member transactions occur. Interest, fees and government charges are not classed as transactions. |
| Overdrawn Savings Account Fee | Event | $15 | — | Payable when any Savings Account is overdrawn by $75 or more within a calendar month Interest will also be charged at the then current Overdraft interest rate |
| Third Party Costs | Event | No fee | — | At Cost. Any costs charged to us from a third party will be passed on to you. Information on these costs is available on request. |
| Counter Cash withdrawal $25,000 and over | Transaction | $50 | — | Per cash withdrawal $25,000 or over |
| Counter Cash withdrawal fee up to $24,999 | Transaction | $2 | — | First 3 free if part of Reduced Fees program |
| External Electronic Periodical Payments | Transaction | $1 | — | If part of the Reduced Fees program, the first 3 transactions are free. Per transaction if Police Bank staff set up on your behalf. |
§ 03 — Features
Instant paymentsPayIDDigital banking55 interest-free daysGoogle PaySamsung PayApple Pay
- · Direct Credits. Make regular credits like your pay into this account
- · Contributes to Reduced Fees Program. Simply maintain a combined monthly balance of $5000 or more worth of savings, investments or loans and you will receive more fee free ATM and EFTPOS transactions…
- · Periodical Payments. Account allows Periodical Payments via Cheque and can also make External Periodical Payments
- · Direct Debits. A facility to make direct debit payments from your account
- · Periodical Payments. Can set up Periodical Payments
- · Direct Credits. Set regular payments like your pay sent straight to your account
- · Bank@Post. Withdraw cash at any participating Australia Post outlets with Bank@POST™
- · Direct Debits. Set up Direct Debits from this account
- · Visa Preferred Rewards. Our Visa Card provides access to the Visa Entertainment program. This gives you the opportunity to purchase unique deals including preferred seating at special events, discoun…
- · ATM withdrawals. up to $1000
- · Visa PayWave. Our Debit Card is issued with the Visa PayWave ‘contactless’ payment feature. This allows you to pay for purchases under $100 without swiping, signing, or entering a PIN at participatin…
- · Verified by Visa. Verified by Visa is a service designed to ensure you are protected while shopping online with your Visa card. As you make a purchase online, Police Bank assesses the risk of the tra…
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Australian Residents
- · Available to individuals
§ 05 — Compare
§ 06 — Run the numbers
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Published by Police Bank under the Consumer Data Right, last changed by them on 29 July 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.