If you are receiving a pension or allowance from the Department of Family and Community Services or Department of Veteran Affairs, this is the account for you. This account is designed to comply with the government’s deeming regulations.
Benefit from:
- no account keeping fees
- no minimum balance
- four free withdrawals each month
- couples treated the same way as singles
- the ability to split your pension between this account and other savings accounts.
Some examples of the pensions and allowances that satisfy our Deeming account requirements include Age Pension, Wife’s Pension, Sole Parents Pension, Disability Support Pension, Widow’s Pension and Sickness Allowance. A State Superannuation Pension does not qualify.
> Open a Deeming account today.
Interest rates
Effective 1 April 2013
Balances up to $45,400
Each dollar over $45,400 |
2.50%pa
4.00%pa |
Fees and charges
Account keeping fees
Number of free withdrawals or debit transfer per month
Excess usage per transaction
(applies after allocated monthly free withdrawals have been used)
Internet and phone banking transfers and balance enquiries
SMS banking |
$0
4
$1.50
Free
Free |
Refer to our fees and charges
You have many ways to access your Deeming account.
Internet banking
In internet banking, you can access your account 24/7. Check balances, transactions and do transfers. To withdraw from this account, you will need to transfer to your transaction account.
Phone banking
Call 13 21 40 anytime to check balances, transactions, transfer money to and from the account and into your transaction account to withdraw.
Over the counter
Visit our Homebush or Rooty Hill offices to deposit and withdraw your money
Direct your income
You can easily arrange for all or part of your pay, dividends, government allowances or rental income to be automatically deposited into your account.
Electronic deposits
Transfer from your accounts at other financial institutions to Teachers Mutual Bank. This can be set up as a one-off or recurring transfer.
For more information on account access, read our
Access options.
Here are some other ways we can help you:
Switch to Teachers Mutual Bank
Once you’re a member, switching all you banking to us is easier than ever.
Our other savings accounts
Achieve your savings goals sooner by choosing the savings account which works best for you.