The Mutual Bank Retirement Account
savings accountage limitedstaleterms checked
Retirement Account is a savings account from The Mutual Bank. At $50,000 it pays 2.00% p.a. with no bonus conditions.
Rate tiers
Every balance band in the bank's feed: base is the rate the bank pays.
| Balance | Base |
|---|---|
| $0 – $25,000stepped: paid on the part of the balance in this band | 0.25% |
| $25,000.01 – $50,000stepped: paid on the part of the balance in this band | 3.75% |
| $50,000.01+stepped: paid on the part of the balance in this band | 2.30% |
The rates are stepped: each band's rate is paid on the part of the balance that falls in it, so a balance across several bands earns a blend of them.
Conditions
- not updated by the bank since 2026-10-14, before the Reserve Bank's cash rate rise of 4 November 2026; check its page, as the rate may have changed
Features
- card
- Visa Debit Card - not available with Passbook option
- app
- yes
- Osko
- yes
- PayID
- yes
- BPAY
- yes
- notifications
- yes
- transactions
- unlimited
- wallets
- Apple Pay and Google Pay - not available with Passbook option
Other features, in the bank's words:
- Passbook - not available when Visa Debit Card attached
- Staff assisted transactions - Branch and Contact Centre
Fees, limits and who can open it
- monthly fee
- no monthly fee stated
- other fees named
- FOREIGN_CURRENCY_CONVERSION_SERVICE_FEE, PHYSICAL_FOREIGN_CURRENCY, REPLACEMENT_CARD_FEE_-_VISA_DEBIT_CARD, ATM_OWNER_FEE (no amount in the feed)
- interest paid
- monthly
- interest calculated
- daily
- age
- ages 55 and over
- open to
- personal customers
- age limited
- open only to people of certain ages (kids, youth or seniors accounts)
Who can open it, in the bank's own words:
- age 55 and over: Over 55 years unless in receipt of pension
- residency: Australian citizen or a permanent resident of Australia or otherwise approved
About this account
A transaction account that earns interest for members over 55's or in receipt of a pension.
Data
- The Mutual Bank's own page for this account.
- The bank's documents its product record links to: terms and conditions, fees, eligibility.
- Our verbatim snapshot of the bank's product record (source), as fetched on 22 October 2026.
- We read the bank's own page and terms against this page on 1 November 2026: retirement-account, important-documents, www.themutual.com.au, www.themutual.com.au; conditions they state and its feed does not are listed above.
/au/finance/savings-accounts/v1/brands/maitland-mutual-limited.json: this bank's accounts and every balance band as JSON; The Mutual Bank's page lists them.- The bank last updated this record on 14 October 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.
Other accounts at The Mutual Bank
- Bonus Saverstale savings account, 4.25% conditional at $50,000
- Christmas Clubstale savings account, 1.00% base at $50,000
- Internet Saverstale savings account, 3.50% base at $50,000
- Internet Saver Businessstale savings account, 2.50% base at $50,000
- Mighty Mutual Accountstale savings account, 4.95% conditional at $50,000
- Cash Managementstale cash management account, 0.01% base at $50,000
- Everyday Accountstale transaction account, 0.00% base at $50,000
- Everyday Business Accountstale transaction account
All of The Mutual Bank's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.
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