Golden Account
Up to
Variable stepped interest rate*
Why choose a Golden Account?
The best of both worlds
Free ATM access
Built-in peace of mind
Secure online banking
The features don't stop there
- Keep more of your money with no monthly fees or minimum balance requirements.
- Make payments online, in-store, or overseas securely, using your Visa Debit card.
- Use your phone to make secure, contactless payments with Apple Pay, Google Pay™, or Samsung Pay – no wallet needed.
- Your money is safe – total deposits up to $250,000 are covered by the Financial Claims Scheme.
- Deposit cash and cheques or withdraw money using Bank@Post if you can't make it to a BCU Bank branch.
Rates and fees
Interest rates
| Tier | Variable rate |
|---|---|
| $0 - $9,999.99 | 0.05% p.a. |
| $10,000 - $49,999.99 | 1.35% p.a. |
| $50,000 - $99,999.99 | 1.85% p.a. |
| $100,000 + | 2.20% p.a. |
Interest is paid at the end of each calendar month on your Golden Account.
Fees and charges
Our Golden Account has no monthly or standard transaction fees.
Other fees and charges that may apply can be found on our account fees and charges page.
Open a bank account online in minutes
To open an account online, you'll need to be:
New customer
Existing customer
Already bank with us?
You can open a new account through the BCU Bank app or internet banking – no additional ID required.
Open an account online
To open an account online, you’ll need to:
- Be aged 55 or older
- Live in Australia with a current residential address
- Be applying as an individual (not a business or association)
- Have two forms of ID from the following:
- NSW or QLD driver licence
- Australian passport
- Green Medicare card
We also recommend having your tax file number (TFN) ready. If you earn more interest than the limit set by the ATO and you haven’t provided us with your TFN, withholding tax may be deducted from the interest you earn.
If you’d like to open an account in joint names or don’t meet the eligibility requirements to open an account online, you can still open an account at one of our branches.
Open an account in a branch
If you’d rather see a friendly face in person, or don’t meet the eligibility requirements to open an account online, drop into one of our branches. If you don’t already bank with us, you’ll need your Australian driver licence or passport.
Don't have photo ID or not an Australian resident? We also accept alternative forms of identification.
Got a question about bank accounts for over 55s?
The Golden Account combines everyday banking with the ability to earn stepped interest on your balance, so you can spend and earn interest using the same account without needing to move your money around.
Yes, your pension can be paid directly into your Golden Account – you’ll just need to provide your account details to the organisation making the payments.
With a stepped interest rate, different parts of your balance can earn different interest rates.
Interest is calculated separately for each portion of your balance based on the rate that applies to that tier. This means different parts of your balance can earn different rates at the same time. Only the amount within each tier earns that tier’s rate.
Example: You have $15,000 in your account. One rate applies to the first $10,000, and another rate applies to amounts above $10,000. The first $10,000 earns the first rate, and the remaining $5,000 earns the rate for the next tier.
Because we're here to help
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Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms and conditions, fees and charges apply.
Read the relevant product terms and conditions before deciding if a product is right for you.
One of the account holders must be at least 55 years of age. Customers can hold up to three Golden Accounts in total, whether held in single or joint names.
*A stepped interest rate is paid on the portion of the account balance within each tier, at the applicable rate for that tier. For example, the interest rate paid on the first $9,999.99 of your account balance may be different to the interest rate paid on any account balance of $10,000 or more.