Police BankRetirement 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.
At a glance
- Base rate
- 2.50%
How it compares
This account in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
| Rate | This account | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| No bonus conditionsPaid whatever you deposit or spend | 2.50% | 4.80%MoveBank's Online Saver | 2.25%of 61 institutions | 27th highest of 61, level with one other |
Rates
Every rate Police Bank publishes for this account, 2 in all.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableMay be applicable if your account becomes overdrawn | - | - | - | 11.96% | - | - |
| VariableWhole Balance | - | - | - | 2.50% | - | paid every 6 mo |
Rate changes
One change logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 15 Oct 2026 | Variable | 2.25% | 2.50% | up 0.25 |
Each change is logged the night it appears in the rates Police Bank publishes. See how every lender answered the RBA on the rate tracker.
Fees
10 fees published, grouped by when they're charged.
When you make a transaction3
- Counter Cash withdrawal $25,000 and over
Per cash withdrawal $25,000 or over
$50 - Counter Cash withdrawal fee up to $24,999
First 3 free if part of Reduced Fees program
$2 - External Electronic Periodical Payments
If part of the Reduced Fees program, the first 3 transactions are free. Per transaction if Police Bank staff set up on your behalf.
$1
If a payment is late or fails1
- Direct Debit Dishonour Fee
Direct Debit Dishonour Fee per transaction
$9
When particular things happen6
- Additional Statement Fee
$1.50 per page. Payable if and when you request an additional statement.
$5 - Default Notice Fee
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
$21.50 - Document Retrieval Fee
Minimum $22.77 per hour retrieval fee and minimum $30 per hour administrative fee. Payable on request for documents to be retrieved
No fee - Dormant Accounts fee
After 3 years an account is classed as dormant if no Member transactions occur. Interest, fees and government charges are not classed as transactions.
$10 - Overdrawn Savings Account Fee
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
$15 - Third Party Costs
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.
No fee
Features
- 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…
Eligibility and limits
- Minimum age 18
- Residency: Australian Residents
- Available to individuals
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Published by Police Bank under the Consumer Data Right, last changed by them on 15 Oct 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.