At a glance

$ 0
Account maintenance fees
1.80 %P.A.
On balances over $45,401
Deposits and withdrawal transactions

Why choose our Pension Plus Account

With no account fees or penalties and easy access to your money, our pension account may be perfect for your everyday banking*

No deposit or withdrawal limits

Eligible pensioners can make deposits and withdrawals without limits or penalties, without any account maintenance and transaction fees.    

Earn interest

Receive interest on your balance, which is deposited to your pension account each month.    

Easy access

Access your money in-branch, via ATM, Internet Banking and EasyPhone Banking, EFTPOS, cheque book, BPAY and Bank@Post.

Visa Debit Card

Worldwide card acceptance with a Visa Debit Card.    

Just for pensioners

Available for pensioners with a Commonwealth Government Pensioners Concession Card or Seniors Health Card.    

Earn interest on your balance

Receive interest on your balance, which is deposited to your pension account each month. Interest is calculated daily and paid monthly

Amount $ Interest rate % p.a.

0 – 1,999


2,000 – 45,400


45,401 and over


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.

Federal Government Deeming Rates are taken into consideration to set the stepped interest rates on your Pension Plus Account, however BOQ's interest rates may not match the Federal Government Deeming Rates.


At BOQ we keep our fees to a minimum. Any fees we do have we’ll show you up front so there are no surprises.

Fee type Fee amount

Account Maintenance Fee


Monthly Card Fee (Visa Debit)


Teller Withdrawals


Cheques Written


BOQ Balance Enquiry




Other Bank ATM Withdrawal




Funds Transfer


Single/Multi pay anyone


Fees and charges may apply for the use of other bank ATMs and overseas ATMs.

Important information

For important information on the Pensioner Bank Account, view the Terms and Conditions.

Ready to apply?

Step 1.

You will need the following for your application:

  • Commonwealth Government Pensioners Concession Card or Seniors Health Card
  • Minimum initial deposit of $500

Step 2.

Visit a branch to apply for a Pension Plus Account

We can also help you with:

Earn bonus interest on our interest earning savings account

Bonus Interest Savings Account

Whether you're saving for a new purchase, a house deposit, a new baby or something else, our Bonus Interest Savings Account will help you reach your savings goal faster. Terms and conditions apply, view Bonus Interest Savings Account for details.

  • Make one withdrawal a month and still earn bonus interest
  • No minimum balance to start earning interest
  • No monthly account maintenance fees

Teach kids to save with BOQ’s Kids Savings Account

Kids Savings Account

It’s never too early to teach kids to save! Encourage the right saving behaviour for children under 14 with a children's savings account held in their name. Terms and conditions apply.

  • Start earning high interest from the first dollar
  • Deposit only access for the linked child
  • Manage the account on your internet banking