Freedom Retirement Account

 General Lending Rates

 Product Features

• Unlimited Txns Additional Information: ATM, Internet, Mobile & Phone Banking transactions. No withdrawal fees at Regional Australia Bank ATMs. Transactions at other financial institutions’ ATMs may incur a fee.

• Npp Enabled Additional Information: This account can be used to send an NPP payment.

• Other Additional Information: 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.

• Bill Payment Additional Information: Automatic payments can be scheduled to pay your bills and/or split your pay into designated savings accounts.

• Additional Cards Additional Information: An initial card on each account, replacements for defective cards and automatic card renewals are free. A fee applies for each additional card ordered at your request.

• Digital Wallet Additional Information: Apple Pay can be attached to the product on request.

• Other Additional Information: Combined balances of up to $250,000 per account holder are guaranteed and secured by the Australian Government.

• Card Access Additional Information: Visa Debit Card available to Australian Residents and members aged > 12 years

• Digital Banking Additional Information: Bank 24/7 wherever you are and whenever you want with RAB mobile and internet banking.

• Digital Wallet Additional Information: Samsung Pay can be attached to the product on request.

• Digital Wallet Additional Information: Google Pay can be attached to the product on request.

• Npp Payid Additional Information: This account can be used as the target of an NPP PayID.

 Product Eligibility

• Other Additional Information: As a customer-owned bank, customers must also become a shareholder of Regional Australia Bank to be eligible to open an account.

• Pension Recipient Additional Information: Account holders must be retired and at least 55 years old, or receiving an eligible pension.

• Min Age - 55. Additional Information: Account holders must be retired and at least 55 years old, or receiving an eligible pension.

• Natural Person Additional Information: The customer must be a natural person rather than another legal entity

• Residency Status - Australian Resident. Additional Information: Individuals must be citizens or permanent residents of Australia.

 Bank Fees and Charges

• Cheque Deposit Fee (Deposit), Amount: 0.50. Additional Information: Your first 10 cheque deposits to your membership each month are free, each subsequent deposit will be charged per cheque.

• Access Fee (Periodic), Amount: 0.00. Additional Information: The Access Fee is a flat monthly fee which entitles your membership to unlimited withdrawals via EFTPOS, ATMs, Internet, Phone and Mobile Banking.

• Over Limit Fee (Event), Amount: 3.50. Additional Information: Applies for each day that a Direct Debit or Cheque transaction is debited to a member which results in a deposit or overdraft account being drawn beyond its available balance or limit.

• Direct Debit Dishonour Fee (Event), Amount: 5.00. Additional Information: Applies where a direct debit request is rejected by us due to insufficient funds in your account.

• Over The Counter Withdraw (Transaction), Amount: 0.00. Additional Information: Applies per counter withdrawal or debit transfer once the monthly limit of 6 included withdrawals is exceeded.

• Direct Debits And Credits (Event), Amount: 0.00. Additional Information: Applies when you make a transaction through a direct debit or credit.

• International Transaction Fee (Transaction), Amount: Not Listed.. Additional Information: This fee is charged by the card issuer for purchases in foreign currency, payments in Australian Dollars processed by a merchant or financial institution located outside Australia or for transactions where a currency conversion occurs.

• Bank Cheque Fee (Event), Amount: 11.00. Additional Information: Applies for each bank cheque you order from us.

 Limitations & Restrictions (Constraints)

• Min Balance of 1.00 Additional Information: A minimum balance of $1 is required to earn interest on this product.