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Pension Advantage

Receiving a government pension?

If you are receiving a pension or allowance from the Department of Family and Community Services or Department of Veteran Affairs, this is the account for you.

Some examples of the pensions and allowances that satisfy our Pension Advantage account requirements include Age Pension, Wife’s Pension, Sole Parents Pension, Disability Support Pension, Widow’s Pension and Sickness Allowance. A State Superannuation Pension does not qualify.

Up to $50,000 2.75 % p.a. Interest rate

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Product Features:

Pension Advantage
Periodic payments : Yes
Funds available : Yes
Online Banking : Yes
Direct Entry (Credit/Debit) : Both
Interest income : Calculated daily and paid monthly
Debit card : Yes
BPAY® : Yes
Pension Advantage account Rate p.a.
up to $50,000 2.75% p.a.
over $50,000 2.75% p.a.
Interest rates effective date Interest rates effective 26 March 2026
Interest rates type Variable

View all our Savings products

View all our Savings Interest rates

View the Target Market Determination for this product

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Enquire about our Savings Accounts and Term Deposits. Reach your goals sooner.

 

Your privacy at the Bank is important to us. Please read our Privacy Framework along with our Privacy Notice.

If you submit this form, the Bank may contact you about products and services we offer which may be of interest to you, unless you have opted out of receiving marketing communications. If you are not an existing member, and you do not take out the product or service this form relates to, the Bank will not use your personal information from this form for marketing purposes after 6 months from when you submit the form. For more information, please refer to our Privacy and Credit Reporting Policy. 

Why choose Australian Mutual Bank?

  • 100% Customer owned

    On becoming a member of our bank, you're not just a customer, you're an owner!

  • Ethical banking

    The benefit of our members, society, and the planet drives everything we do

  • Friendly service

    Our number one goal is to give you the best overall banking experience we can

  • Safe and secure

    Eligible deposits are protected by the Financial Claims Scheme

Footnotes:

For full details of our fees, please review the Fees and Charges brochure.

Design and Distribution Obligations
The target market for this product will be found within the product’s Target Market Determination, available here.

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Australian Mutual Bank acknowledges the Traditional Owners and Custodians of the land where our office is located in Surry Hills, Sydney as the Gadigal people of the Eora Nation. We further acknowledge the Traditional Owners and Custodians of Country from where our members and employees reside.

We extend our deep respect to Elders, past and present, and emerging Community leaders for maintaining enduring connections that protect and care for Country for a sustainable future.

Disclosures | Security | Privacy | BSB: 611 100

Australian Mutual Bank is a division of Teachers Mutual Bank Limited.

For products and services, conditions, fees and charges apply. These may change or we may introduce new features or fees and charges in the future. Full details are available on this website or on request. Lending criteria apply to approval of credit products. This information is general in nature and does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from or through Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL and Australian Credit Licence 238981.

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