BSB 806 015

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BSB 806 015

& Retirement Account

An account for the over 55's with a competitive variable interest rate and convenient card access. Plus the benefits of the optional & Retirement Rewards products.

& Retirement Account

Competitive 2.00% p.a. variable rate with card access

& Retirement Term Deposit

Interest rate better than our standard 3 month Term Deposit #

No monthly fee

No monthly fee and no minimum balance required

Already retired? Or maybe thinking of making the transition soon?

If you're over 55 the & Retirement Account combines transactional capabilities with a high variable interest rate account. 

  • Competitive interest rate
  • No monthly fees - keeping your hard earned money in your pocket.
  • No minimum balance required
  • Visa Debit card - transactional capabilities with a Visa Debit card
  • Bank on the go - use your Visa Debit card, Mobile App and Internet Banking to access your account anytime, anywhere and make fee-free transactions.
  • Instant digital card - open your account online and instantly access your card details securely to transact online or add to your Digital Wallet to make purchases in-store.
  • ATM access - free and convenient access to your money at all major bank ATMs across Australia, including the atmx by Armaguard network.
  • Faster Payments - send and receive money in near real time between participating banks, or set-up your PayID on your account for easier, faster payments.

Plus you can add on additional products to help you get more from your money in retirement.

Optional & Retirement Reward Features

  • & Retirement Term Deposit - gives you security of a fixed interest rate better than the standard 3 month P&N Term Deposit rates, when you hold the & Retirement Account.
  • & Transaction Account - an everyday transaction account with no monthly fee and no standard transaction fees to help you manage your expenses. Find out more.

Interest rates

Product Name Tier Rate Interest Calculated Interest Credited
& Retirement Account > $0 2.00% p.a. Daily balance Last day of every month
Account fees & charges
Monthly Base Balance Fee


Base Balance
Unlimited Free Transactions
  • Payroll Credit
  • Direct Credit
  • Bank@Post™ deposit¹
  • Internet Banking Transfer
  • Mobile App Transfer
  • Phone Banking Transfer
  • Express Cheque Deposit
  • Cheque Deposit
  • Cash Deposit
  • VISA Purchase
  • BPAY®
  • Auto Transfer (internal/external)
  • Direct Debit
  • Cash Withdrawal
  • Manual Transfer
Transaction fees & charges
Bank@Post™ withdrawal1$3.00 per transaction
Cheque withdrawalNot available

The table above covers fees and charges related to this product.

Other fees & charges that apply to all of our accounts can be found on our fees and charges page.

¹ Bank@Post™ deposits and withdrawals are available only with an P&N ATM Card or VISA Card. Cheques must be made out in the name of the cardholder to be accepted at Bank@Post™ and are subject to 4 working days clearance.

® Registered to BPAY Pty Ltd ABN 69 079 137 518 

View the Terms and Conditions

View the Interest Rate Schedule

Target Market Determinations (TMDs) are available for products.

The & Retirement Term Deposit gives you security of a fixed interest rate better than the standard 3 month P&N Term Deposit rates, when you hold the & Retirement Account.

  • 3 month term
  • Interest paid on maturity

Term $5,000 - $1,000,000 Interest Paid
3 months 4.45% p.a. At maturity

& Retirement Term Deposit Interest on maturity, rate fixed for term of deposit. Interest credited to savings, paid by cheque or reinvestment. 

All term deposits: Interest will only be paid on funds invested for a minimum of 30 days. In the event of early termination of the term deposit, subject to the funds having been invested for the minimum period, interest will be calculated at the interest rate most recently published by the Reserve Bank of Australia on its website as being the “Cash Rate Target” at the time the investment is redeemed. If any interest has been paid prior to early redemption of a term deposit, any shortfall arising from the recalculation of interest in accordance with the previous paragraph will be deducted from the principal amount. ​​​

View the Term Deposit Account Terms & Conditions

View the Term Deposit Interest Rate Schedule

Apply online

If you're an existing member you can open a new account via the Mobile App or Internet Banking.

If you are not an existing P&N Bank member you can open your account online.

To apply for an account online you must:

  • be 55 years of age
  • be an individual (not a business or entity)
  • be an Australian resident with a current Australian residential address, and
  • have two forms of identification out of - Australian Drivers Licence, Australian Passport or Medicare card.

Over the phone

Call us on 13 25 77 and one of our friendly consultants will help you with your application.

In person

Apply for a bank account at your nearest branch. Make sure you bring along all the documents you'll need.

What you'll need

  • Be at least 55 years of age.
  • Have an Australian mailing and residential address.
  • Become a P&N Bank member by buying a $10 share. You don't have to pay anything straight away, we'll deduct this from your account after you're set up.
  • If you’re joining as a brand new member, you need your Australian driver's licence or your Australian passport. You can also use one form of primary ID without your photo (eg. your birth certificate or citizenship papers) with one form of secondary ID (eg. your most recent power bill). Original and certified copies of documents are accepted.
  • You don’t have to quote your Tax File Number or claim an exemption, however, if you don’t, you could have withholding tax deducted from any interest credited. You can supply your Tax File Number at any time by visiting a branch or contacting us.

Unsure if you're eligible for this account? Contact us, we're happy to help.

View the Terms and Conditions

View the Interest Rate Schedule

2.00 % p.a. & Retirement Account Variable Interest Rate


*One of the account holders must be at least 55 years of age to open an & Retirement Account. Members may hold a maximum of one & Retirement Account as a single account and one & Retirement Account as a joint account.

#Hold an & Retirement Account and get an interest rate better than our standard 3 month Term Deposit rates.

^Non standard transaction fees and other bank and ATM fees may apply.

Terms and conditions apply. Rates stated are subject to change without notice. Any advice given is general only, and does not take into account your personal objectives, financial situation or needs. Please therefore consider whether it is appropriate for you. Please read and consider the T&Cs available at Non-standard transaction fees may apply. If you do not hold an & Retirement Account at the time your & Retirement Term Deposit matures your Term Deposit will be automatically rolled over into the Money Maker Term Deposit for the same term at the prevailing rate.

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