GMCU My Freedom Summary
Description
The My Freedom Account is a transaction account for persons aged 55 years and above and who no longer work full time. Funds are available at call.
Benefits
- No monthly savings-account fee.
- No monthly activity requirements for the ongoing rate.
Hoops
- Applicants must be at least 55.
- Different portions of your balance can earn different rates.
On this page
Details
Key details
| Product name | GMCU My Freedom |
|---|---|
| Maximum variable rate | 0.57% p.a. |
| Ongoing interest rate | 0.57% p.a. |
| Base interest rate | 0.57% p.a. |
| Minimum age | 55 years |
Source: noren.com.au
All comparison details
| Base | 0.57% |
|---|---|
| Ongoing | 0.57% |
| Ongoing cap | Tiered |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 0 |
| Dep $/mth | - |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 55 |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 0.57% p.a..
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Standard variable | 0.00% | This band only | First $499 |
| Standard variable | 2.00% | This band only | Over $499 |
Source: noren.com.au
Share/Export
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Requirements
- No introductory offer is established by the current rate sheet. Other transaction and service charges apply, free electronic withdrawals do not establish a zero monthly account fee.
- No account-keeping fee under the current My Freedom product page. Interest uses the minimum monthly balance and is paid annually. Comparison assumes the selected balance was maintained as that minimum, it is not a calculation from today’s balance alone. Rates apply to portions using the exact CDR cent boundary at $499.00, beneath the website’s rounded $500 band label.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with GMCU.
- Individual applicants only
- Age 55 or over.
- Aged 55+ and no longer working full time. Personal retirement savings/transaction scenario.
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Sources & review
Noren aggregates information from multiple primary sources to ensure you're getting the most up-to-date, accurate information. All product information is peer reviewed.
Collected on 31 Oct 2026. Pricing verified on 30 Oct 2026.