HP Pension Advantage Summary
Description
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements.
Benefits
- No monthly savings-account fee.
- No monthly activity requirements for the ongoing rate.
- No upper balance cap in the reviewed ongoing pricing.
Hoops
- Check the provider’s eligibility, linked-account terms and other service charges.
On this page
Details
Key details
| Product name | HP Pension Advantage |
|---|---|
| Maximum variable rate | 3.25% p.a. |
| Ongoing interest rate | 3.25% p.a. |
| Base interest rate | 3.25% p.a. |
| Minimum age | - |
Source: noren.com.au
All comparison details
| Base | 3.25% |
|---|---|
| Ongoing | 3.25% |
| Ongoing cap | No cap |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | - |
| Dep $/mth | - |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | - |
| 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: 3.25% p.a..
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Standard variable | 3.25% | This band only | First $5m |
| Rates unverified | - | - | Over $5m |
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
- Variable rates apply to portions of the balance. Interest is calculated daily on cleared end-of-day balances using the annual rate divided by 365, and credited on or about the last day of each month.
- No regular monthly account-keeping fee. New members receive an Everyday Direct transaction account when opening savings, also with no monthly account-keeping fee. Other service and transaction charges may apply.
- Deposits over $5,000,000 in aggregate across savings and transaction accounts are subject to bank acceptance. A single account balance does not establish aggregate eligibility.
- No monthly deposit, balance-growth, card-purchase or withdrawal-count bonus test. At-call withdrawals do not forfeit the advertised interest.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with HP.
- Australian citizen or permanent resident with an Australian residential address and satisfactory identity checks.
- Membership covers Australian health-sector employees and retirees, people studying or graduated from healthcare courses at an Australian university, or immediate family of a Health Professionals Bank member.
- Receive an eligible government pension or allowance. New accounts must receive that payment directly, otherwise the bank may transfer the account to another product. Pension eligibility is not a universal numeric minimum age.
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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 and verified on 31 Oct 2026.