Pension Advantage - Your pension, your way.
Make your pension go further
Pension Advantage is designed to help you manage your everyday banking simply, securely and with fewer fees. It’s a practical account that gives you easy access to your money.
Available to members receiving an eligible Government pension or allowance
Earn a variable interest rate of ~PAA_PU_50000~ on account balances of up to $50,0001
Receive your pension directly into your account
Pay $0 monthly account keeping fees4
No minimum balance requirements
Access your money when you need it, with no withdrawal penalties
Use a Visa Debit card for everyday spending
Who can apply?
Eligibility criteria
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Be an Australian citizen or permanent resident.
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Be either:
- Employed in, or retired from, the Australian health sector
- Studying or have graduated from an Australian university in healthcare including medicine, nursing and allied health professions
- Immediate family of a Health Professionals Bank member.
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Members receiving a Government pension or allowance such as the Department of Family and Community Services or Department of Veteran affairs can open this account.
What you need to apply
- An Australian residential address.
- Identification documents with your full name, date of birth and address, such as a birth certificate or driver’s licence or passport, and Medicare card.
- Tax File Number
New members
When you open a savings account as a new member of the bank, you’ll automatically get an Everyday Direct transaction account too.
Existing members
Login to Internet Banking. Navigate to Self Service and select Open New Account. Select Apply under the Savings section and follow the prompts.
Or visit us in person.