Newcastle Permanent Special Monthly Interest
transaction accountage limited
Special Monthly Interest is a transaction account from Newcastle Permanent. At $50,000 it pays 1.60% p.a. with no bonus conditions.
Not ranked: a transaction (everyday) account, not a savings account.
Rate tiers
Every balance band in the bank's feed: base is the rate the bank pays.
| Balance | Base |
|---|---|
| $0 – $9,999.99stepped: paid on the part of the balance in this band | 0.01% |
| $10,000.01 – $49,999.99stepped: paid on the part of the balance in this band | 2.00% |
| $50,000.01+stepped: paid on the part of the balance in this band | 2.05% |
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
- the feed lists several base rates for one balance; the lowest is shown, up to 2.05% (Credit interest you earn is worked out as strata interest at the annual rate divided by 365 on the portion of the balance within each strata. It is paid to the account on the last day of each calendar month.)
Features
- card
- Visa Debit Card (Cashcard no longer available for issue from 27 November 2024).
- app
- yes
- Osko
- yes
- PayID
- yes
- BPAY
- yes
- transactions
- unlimited
- wallets
- Apple Pay, Google Pay
Other features, in the bank's words:
- Cheque book available (must be 18+).
Fees, limits and who can open it
- monthly fee
- no monthly fee stated
- other fees named
- Real Time Gross Settlements (RTGS) - Outward Third party financial institution fee, Foreign Currency Conversion, Document and Miscellaneous Service, Real Time Gross Settlements (RTGS) - Inward Third party financial institution fee (no amount in the feed)
- interest paid
- monthly
- interest calculated
- daily
- 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:
- residency: Available to permanent Australian Residents
- Must be 55 years of age or over; receiving an eligible government pension; or a Member of the Association of Independent Retirees.
About this account
A flexible everyday account specially designed for pensioners and retirees offering the peace of mind knowing their retirement savings or pension income is working hard and earning interest.
Data
- Newcastle Permanent'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 13 November 2026.
/au/finance/savings-accounts/v1/brands/newcastle-permanent.json: this bank's accounts and every balance band as JSON; Newcastle Permanent's page lists them.- The bank last updated this record on 13 November 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 Newcastle Permanent
- Online Savings Account (Including Intro) savings account, 1.00% base at $50,000
- Smart Saver Account savings account, 5.60% conditional at $50,000
- Smart Saver Account (Under 25) savings account, 6.25% conditional at $50,000
- Business Cash Management Account cash management account, 1.12% base at $50,000
- Business Cheque Accountstale transaction account, 0.00% base at $50,000
- Club Accountstale transaction account, 0.00% base at $50,000
- Everyday Accountstale transaction account, 0.01% base at $50,000
All of Newcastle Permanent's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.
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