Pensioner Plus Account

You've probably done your sums a million times over… but have you reached that peace of mind that your money is going to last as long as you need it?

Decisions concerning financial security are more important now than they have ever been before. That is why the Greater Building Society has formulated the Pensioner Plus Account just for pensioners.

The Pensioner Plus Account is designed to help you to take advantage of the Government's fixed deeming rates, so that you can make your money work harder for you.

What is the Government's Deeming Legislation?

If you are a pensioner, the Federal Government assumes (deems) that your savings will earn a certain amount of interest. Anyone who is a recipient of Centrelink benefits will be subject to pension and allowance income test known as deeming. This deeming test assumes that financial investments are earning a certain rate of interest regardless of what interest is actually earned. The Greater's Pensioner Plus Account has been structured to meet this rate of interest.

When are you eligible to open a Pensioner Plus account?

You can open a Pensioner Plus Account when you are a Centrelink or Veterans Affair Pensioner and your savings are subject to Federal Government deeming rules.

Key Features and Benefits

You can earn a higher rate of interest on your savings
You must be a Centrelink or Veterans Affair Pensioner
No account keeping fees

Features Checklist

Interest rate
Current Interest Rate	Earn up to 4.50% p.a. View interest rate schedule
Interest Frequency	Calculated daily, paid monthly
Account Features
Access to funds	EFTPOS^ BPAY Member Cheque Easypay Internet Banking Phone Banking Visa Card^ Direct Debit Third Party Payment Service
Transaction record	Statement with the option of passbook
Minimum opening balance	$1.00
Fees & Charges
Monthly Account Keeping Fees	Nil
Transaction Fees	View our transaction fees How you can avoid transaction fees
Monthly fee	Nil
Other Features and benefits
Free Internet Banking	Yes
Free Phone Banking	Yes
BPAY®	Yes
Greater VISA debit	Yes^