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Up to 3.00 % p.a. Interest rate

Smart retirement starts here, make it yours

For those aged 55 and over or receiving a pension, our Retirement account offers the flexibility of an at-call account with competitive interest rates. With no monthly fees and easy access to your money, it’s a smart way to keep your funds working while staying in control. Make your retirement comfortable and carefree!

So, what are the perks?

Become a Member

Joining is easy - it only takes a few minutes to complete the application online or in person.

Features, Rates and Further Information

Product Features:

Everyday Banking
Monthly fee : $0
Mutual Visa Debit Card : Available (excluding Passbook account option)
ATM/Eftpos access : Yes
Internet banking : Yes
The Mutual App : Yes
NPP/PayTo/PayID/Osko® : Yes
BPAY® : Yes
Mutual Alerts : Available
Bank@Post : Yes, with a linked Mutual Visa Debit Card
Interest : Calculated daily, paid monthly
Minimum opening balance : $0
Staff assisted transactions : Branch and contact centre

Interest Rates

Account Interest Rates
Up to $25,000 0.25% p.a.  
Over $25,000 to $50,000 3.00% p.a.
Over $50,000 1.50% p.a.  

 

Document or Information View or Download
Fees, charges and limits Download PDF →
Target market determinations Learn more →
Interest rates Learn more →
Important documents Learn more →
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Money management tools

Want to plan ahead with confidence? Our easy-to-use calculators can help you set savings goals and keep track of your spending, so you stay in control of your finances.

View all our online calculators

Frequently asked questions

As an authorised deposit-taking institution, deposits with The Mutual Bank are protected by the Australian Government’s Financial Claims Scheme (FCS).

The FCS provides protection to deposit-holders with Australian incorporated banks, building societies and credit unions (known as authorised deposit-taking institutions or ADIs), and general insurance policyholders and claimants, in the unlikely event that one of these financial institutions fails.

The FCS, which has also been referred to as the Australian Government deposit guarantee, is a government-backed safety net for deposits of up to $250,000 per account holder per ADI. It enables account holders’ quick access to deposits that are protected under the FCS.

Yes. Once you are registered for Internet Banking you can use your smart device to access your banking. The Mutual App is available to download in the App Store or Google Play. You can transfer money between your own accounts instantly, make BPAY and OSKO payments, set up savings goals and track your spending across expense categories – and so much more.

Please contact us if you would like to arrange a Visa Debit Card with your account.

Our Visa Debit Card allows you to use your Everyday Account at ATMs, online and anywhere in the world Visa is accepted. Our Visa Debit Card is made of plants, not plastic with features that are sustainable and accessible.

We make it simple for you to switch to our Everyday Account. We can organise to transfer your incoming payments (such as your wages or Centrelink) and any regular payments coming out of your account (such as electricity or gym membership). Talk to our team to do the work for you.

You're gonna love us

The Mutual Bank has been supporting regional communities with trusted banking for over 135 years

We’re proudly customer owned, which means we exist to benefit you. Not external shareholders. Whether you're opening your first account or planning for the future, we’re here with genuine service, great-value products and the kind of care only a mutual can offer.

Looking for something else?

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Need more support? We're here to help

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    Interest is calculated by applying the daily percentage rate to the different portions of the daily balance and paid monthly on the last day of each month. The daily percentage rate is the applicable annual percentage rate divided by 365. Penalty Interest will be charged at a rate of 20.00% per annum on overdrawn accounts. This penalty interest will be calculated daily and charged on a monthly basis.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

Financial Claims Scheme information available at fcs.gov.au.