Regional Australia Bank Freedom Retirement Account
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Freedom Retirement Account is a savings account from Regional Australia Bank. At $50,000 it pays 1.13% 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 |
|---|---|
| $1 – $1,999.99stepped: paid on the part of the balance in this band | 0.75% |
| $2,000 – $49,999.99stepped: paid on the part of the balance in this band | 1.15% |
| $50,000 – $249,999.99stepped: paid on the part of the balance in this band | 2.40% |
| $250,000 – $999,999.99stepped: paid on the part of the balance in this band | 3.00% |
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.
The feed states a minimum balance of $1.
Conditions
- not updated by the bank since 2026-11-01, before the Reserve Bank's cash rate rise of 4 November 2026; check its page, as the rate may have changed
- open only to pension or allowance recipients
- designed for people who are retired and 55 or over, or on an eligible government pension or allowance (not pensioners only)
Features
- card
- Visa Debit Card with payWave
- app
- yes
- Osko
- yes
- PayID
- yes
- BPAY
- yes
- transactions
- unlimited
- wallets
- Apple Pay, Google Pay, Samsung Pay
Other features, in the bank's words:
- Make deposits and withdrawals through a Bank@Post facility at Australia Post outlets. For full details refer to our Conditions of Use. Fees and charges apply.
- Combined balances of up to $250,000 per account holder are guaranteed and secured by the Australian Government.
Fees, limits and who can open it
- monthly fee
- no monthly fee stated
- other fees named
- International Transaction Fee (no amount in the feed)
- minimum balance
- $1
- 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)
- pensioner
- open only to pension or allowance recipients
Who can open it, in the bank's own words:
- As a customer-owned bank, customers must also become a shareholder of Regional Australia Bank to be eligible to open an account.
- pension recipients only: Account holders must be retired and at least 55 years old, or receiving an eligible pension.
- age 55 and over: Account holders must be retired and at least 55 years old, or receiving an eligible pension.
- residency: Individuals must be citizens or permanent residents of Australia: Australian Resident
About this account
Full range of access AND great interest rates for retirees and pensioners.
Data
- Regional Australia 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 10 November 2026.
- We read the bank's own page and terms against this page on 1 November 2026: freedom-retirement, product-terms-and-conditions, www.regionalaustraliabank.com.au, TMD_ED003.pdf; conditions they state and its feed does not are listed above.
/au/finance/savings-accounts/v1/brands/regional-australia-bank.json: this bank's accounts and every balance band as JSON; Regional Australia Bank's page lists them.- The bank last updated this record on 1 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 Regional Australia Bank
- Internet Maximiser Accountstale savings account, 3.50% base at $50,000
- Savings Accountstale savings account, 3.50% base at $50,000
- Savings Booster Accountstale savings account, 5.25% conditional at $50,000
- Community Partnership Accountstale transaction account, 0.00% base at $50,000
All of Regional Australia 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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