Geelong Bank Branch will be closed for Easter Public Holidays on:
Friday 7th April and Monday 10th April 2023
For retail clients who are 55 years+, holders of a Seniors Card or recipients of an eligible pension and who also need a transactional banking account to conveniently manage their funds and facilitate payments
The Senior Savers account provides access facilities including direct credit of your Centrelink payments and other income, ATM/EFTPOS access through a Visa Debit Card, the convenience of Internet and Phone Banking, BPAY and Direct Debits payments. Interest is paid quarterly.
Savings Accounts Features
|Annual Fee :||$0|
|Monthly Fee :||$0|
|Funds Available :||At Call|
|Minimum Amount :||$1|
|Auto Sweep Facility :||Yes|
|Personal Cheque Facility :||No|
|Branch Access :||Yes|
|ATM/EFTPOS Access :||Yes|
|Direct Entry (Credit/Debit) :||Yes|
|Interest Calculation :||Calculated daily, paid quarterly|
|Visa Debit Card :||Yes|
|Balance||Interest Rate (p.a.)|
|Up to $9,999||1.10% p.a.|
|$10,000 - $49,200||1.15% p.a.|
|$49,201 - $249,999||1.25% p.a.|
|$250,000 or more||1.45% p.a.|
Interest calculated daily on the portion of balance in each tier and paid quarterly in March, June, September and December. For more information on these products refer to our separate fact sheets.
Geelong Bank is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Part of the membership process is to open an account.
The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.
Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).
The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA).
In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.
Senior Savers Account
Speak to a consultant today.
Open a Savings or Transaction Account.
Interest rates (where applicable) are variable so contact any branches of Geelong Bank, telephone 1300 361 555 or visit our website www.geelongbank.com.au.