Pension Plus Account
With our Pension Plus Account you’ll earn government deeming rates on your funds and you can make deposits and withdrawals without limits, without penalties and without account maintenance fees or Bank of Queensland transaction fees. No worry. No fuss. Just smart banking.
Features and benefits
- easy access to your money – in-branch, ATM, Internet Banking and EasyPhone Banking, EFTPOS, cheque book, BPAY and Bank@Post
- earn government deeming interest rates on your savings account
- no monthly account maintenance fees
- unlimited free Bank of Queensland deposit and withdrawal transactions
- interest paid on balances $2,000 and over, calculated daily and paid monthly into your pension savings account
- free balance enquiries at Bank of Queensland ATMs or from Internet Banking or EasyPhone Banking
- transfer orders are free to any other Bank of Queensland accounts
- monthly statements are free
Access at any time
Enjoy easy access to your pension savings account through Bank of Queensland branches, a vast network of ATMs throughout Australia, Internet Banking, EasyPhone Banking, BPAY, cheque books, Bank@Post and EFTPOS terminals throughout Australia.
Government deeming rates on a transaction account
If you receive a government pension, you can earn government deeming rates on your savings account.
Our Pension Plus Account attracts government deeming rates on balances over $2,000. Your interest will be calculated on a stepped basis, using the current deeming interest rates, and directly deposited into your Pension Plus Account on the last day of each month.
Interest rates
Interest is calculated on the daily closing balance of a Pension Plus Account using a stepped rate of interest. This means that different rates of interest apply to different parts of the account balance. Please refer to section 2.10 of the Deposit Products Terms and Conditions for further information, including worked examples.
The current interest rates are available on the Today's rates page.
Fees and charges
For information on fees applicable to this product, please refer to the Personal Banking Guide to Fees and Charges
Find out what information we need from you to open a Pension Plus Account here, then visit your nearest branch or call one of our friendly customer service consultants on 1300 55 72 72.
Important information
Please view the terms and conditions listed below on the Terms and Conditions page:
- Personal Banking Guide to Fees and Charges
- Deposit Products Terms and Conditions
Information current as at September 3, 2010.
Products issued by Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616. Fees and charges are payable. Full terms and conditions are available at any of Bank of Queensland branch. This website contains general advice. This advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and consider the terms and conditions, Financial Services Guide and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. You can obtain a copy of those documents from any Bank of Queensland branch or from this website. This information is for general information purposes only. These rates are subject to change at any time. Details of our current rates may be obtained at any branch of Bank of Queensland in Australia, or contact us at our Customer Contact Centre.