Important Notice – From 11 February 2027, the Retirement Savings Account (RSA) will be closing.
This change only relates to the Qudos Bank RSA and does not affect the rates, features or terms and conditions of any other Qudos Bank product.
Bank Australia Limited has decided to close the Qudos Bank Retirement Savings Account (RSA). Customers should provide instructions regarding their account balance by 5 February 2027. If valid instructions are not received, Bank Australia intends to transfer any remaining balances to the Australian Taxation Office (ATO) from 11 February 2027 in accordance with applicable law.
As a result, you should provide instructions for your RSA balance to be:
- transferred to another superannuation fund or retirement savings account (another fund); or
- paid directly to you if you are eligible to access your benefits under superannuation law.
If valid instructions are not received by 5 February 2027, Bank Australia intends to transfer your remaining RSA balance to the Australian Taxation Office (ATO) from 11 February 2027 in accordance with applicable law.
If you currently hold an RSA with us, important information about the closure, including how it may affect you and the options available to you, is available below.
A Significant Event Notice (SEN) was issued to customers on 6 October 2026. You can access a copy here.
You can also access the RSA Benefit Payment Request Form here.
To view the Retirement Savings Account rates and features, please visit our Retirement Savings Account Product Brochure.
Frequently Asked Questions
Following a review of our retirement savings products, Bank Australia Limited has decided to close the Qudos Bank Retirement Savings Account (RSA).
We have made this decision after carefully reviewing our product range and considering the options now available to customers in the broader market.
As a result, the Qudos Bank RSA is being withdrawn and all remaining account balances will need to be transferred to another eligible superannuation fund or retirement savings account, paid directly to eligible members, or transferred to the Australian Taxation Office (ATO).
When did the Qudos Bank RSA close to new applications?
As of August 2026, we stopped accepting new applications for Qudos Bank Retirement Savings Account (RSA).
What happens if I don’t do anything?
If we do not receive valid instructions by 5:00pm (AEDT) on 5 February 2027, or we are unable to complete your requested transfer, we intend to transfer your RSA balance to the Australian Taxation Office (ATO) and your RSA will be closed from 11 February 2027.
What happens if my Qudos Bank Retirement Savings Account (RSA) is transferred to the ATO?
If your balance is transferred to the ATO:
- your Qudos Bank RSA account will be closed
- any insurance associated with your RSA will stop
- future employer and personal contributions cannot be paid to the ATO
- you will not have investment choice over funds held by the ATO
- the ATO does not charge fees on these amounts
- the ATO may pay interest in line with applicable legislation.
You can later claim your money from the ATO, or the ATO may transfer it to another active super account in your name.
Does the closure of RSA membership impact other products that customers hold?
No. Other products are not impacted as part of RSA product closure. All other accounts, products and services will continue to operate as normal.
Am I eligible to withdraw my RSA balance?
Generally, you may be eligible to access your benefits if:
- you are aged 65 or over
- you have retired
- you have met another condition of release under superannuation law.
For more information, visit ato.gov.au and search for "withdrawing super".
What happens if I have insurance in my Qudos Bank Retirement Savings Account (RSA)?
Any insurance cover attached to your Qudos Bank RSA will stop when your account balance is transferred to another fund, paid to you, or transferred to the ATO, unless it stops earlier in line with the terms of the policy.
You should consider any alternative insurance arrangements before your account is closed, as insurance provided through your RSA will not continue after the account is transferred, withdrawn or moved to the ATO.
How will I be notified?
We mailed out the Significant Event Notice (SEN) on 6 October 2026. You can access a copy here.
What if I haven’t provided my Tax File Number (TFN)?
If you have not provided your TFN, additional tax may have been deducted from concessional contributions made to your account.
If you wish to reclaim any eligible additional tax, you should provide your TFN before your account is closed. Once your account has closed or been transferred to the ATO, you may no longer be able to recover these amounts.
What happens if the account holder is deceased?
If the account holder is deceased, Bank Australia will work with the authorised legal personal representative or estate representative regarding the account. Please contact us as soon as possible.
What does this mean if you have a Qudos Bank RSA Pension Account?
Your pension account cannot continue after the closure of the Qudos Bank RSA.
Before the 5 February 2027, you will need to choose whether your pension account balance is:
- transferred to another fund that offers a suitable retirement income product; or
- paid to you, where permitted under superannuation law.
What does this mean if you have a Qudos Bank RSA (Accumulation Account)?
Following the closure of the Qudos Bank RSA, future employer and personal contributions cannot continue to be paid to your Qudos Bank RSA and should be redirected to another superannuation fund or retirement savings account.
The ATO cannot accept employer contributions on your behalf.
If your employer currently contributes to your Qudos Bank RSA, you should provide them with details of your chosen superannuation fund or retirement savings account as soon as possible to ensure future contributions are paid to the correct account.
Can I claim a tax deduction for personal contributions?
If you intend to claim a tax deduction for personal contributions made to your Qudos Bank RSA, any Notice of Intent to Claim a Tax Deduction must be:
- submitted and processed before the end of the financial year following the year in which the contribution was made.
- submitted before lodging your tax return; and
- received and accepted before your account is closed.
Once your account has been closed or transferred to the ATO, you may no longer be able to make or vary a valid notice. If you intend to mail your form please allow 5 business days for delivery.
Need help?
We're here to help. If you have any questions about the closure of your RSA, you can contact us by:
Documents and forms
The issuer of this product is Bank Australia Limited trading as Qudos Bank ABN 21 087 651 607 AFSL / Australian Credit Licence Number 238431. A copy of the Product Disclosure (PDS) is available for existing RSA customers. You should read the PDS and Signficant Event Notice before making decisions regard your RSA balance.
The information on this page has been prepared without taking into account any person’s financial situation, needs and objectives. Before you make any decisions regarding your RSA balance, including transferring to another fund or withdrawing benefits where eligible, you should consider whether those decisions are right for you and seek independent legal, financial and taxation advice.
You should read our Financial Services Guide.
We respectfully acknowledge the Traditional Custodians of all the lands on which we live and work, and we pay our respects to Elders past and present. We recognise their continued connection to the land, waters and culture and we acknowledge that sovereignty has never been ceded. Our head office is located on the land of the Wurundjeri Woi Wurrung people of the Kulin Nation in Victoria.
We are an equal opportunity employer that celebrates the diversity, equity and inclusion of all people.
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An EV is defined as a vehicle without an internal combustion engine (ICE), meaning a fully electric vehicle (EV)
New is defined as driven less than 1,000km
An establishment fee of $595 applies to this loan.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
An unsecured loan of $10,000 with a term of 3 years and a monthly repayment frequency has been used to calculate this comparison rate.
Standard variable interest rate which your account will revert to after the introductory offer.
Intro variable rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Annual fee charged upon account opening and annually thereafter.
Interest free days on purchases only apply if your account is paid in full by the due date each month. Excludes cash advances and BPAY® transactions. Payment must be received by Qudos Bank by close of business.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Current standard variable interest rate is 12.84% p.a. for Visa Lifestyle, 16.35% p.a. for Visa Lifestyle Plus and 19.49% p.a. for Visa Platinum Credit Cards.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Current standard variable interest rate is 12.84% p.a.
Construction period is up to the date the final progress payment is made or 12 months from the date we first advance money to you, whichever is earliest.
For spilt loans, the minimum deposit amount applicable is the higher of the minimum deposit amount for the relevant product.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Saver, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Access the 24/7 Visa Premium Concierge service in Australia on 1800 639 607. For country contact numbers, terms and conditions and more information, click here.
AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a group policy to Bank Australia Limited trading as Qudos Bank ABN 21 087 651 607 AFSL / Australian Credit Licence Number 238431, (Qudos Bank), which allows eligible Qudos Bank account holders and cardholders to claim under the group policy as a third party beneficiary by reason of the statutory operation of Section 48 of the Insurance Contracts Act 1984 (Cth). The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the Complimentary Travel Insurance Policy Information Booklet: Effective 1 July 2025 which may be amended from time to time. An excess may be deducted from any benefit paid. Qudos Bank does not guarantee this insurance. Any advice has been prepared without taking into account your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice.
A maximum amount of $150,000 applies for vehicles up to 3 years old and $75,000 for vehicles between 3 and 5 years old.
Eligible purchases do not include cash advances, ATO payments, BPAY®, interest, balance transfers, fees and charges or traveller's cheques and foreign currencies - these do not earn Qantas Points. For the full list of exclusions, please refer to the Credit Card Terms and Conditions. Qantas Points can be earned on a maximum of $200,000 of eligible purchases per customer for each 12 month period, commencing from the date your account is opened and each account anniversary thereafter (Eligible Transaction Cap), regardless of the number of Qudos Bank Platinum Credit Cards held by you.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Saver, the Qantas Points Banking Terms and Conditions. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. A joining fee usually applies, however, Qudos Bank has arranged to provide Qantas Frequent Flyer membership with the joining fee waived to Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at http://qantas.com/joinffqudos. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Selected Qantas products and services are the following items purchased directly from Qantas: Qantas passenger flights (with a QF flight number) Qantas Frequent Flyer and Qantas Club membership joining and annual fees. Excludes Jetstar, Qantas Holidays, Qantas branded non-airfare products and any Qantas products and services not purchased directly from Qantas, purchases from Qantas Freight, Qantas Holidays, Qantas Business Travel, Jetset Travel world channels, Qantas Staff Travel, the Jetstar Group of companies or goods or services supplied by Qantas Frequent Flyer Program partners.
Eligible purchases do not include cash advances, ATO payments, Bpay, interest, balance transfers, fees and charges or traveller's cheques and foreign currencies - these do not earn Qantas Points. For the full list of exclusions, please refer to the Credit Card Terms and Conditions. Qantas Points can be earned on a maximum of $200,000 of eligible purchases per customer for each 12 month period, commencing from the date your account is opened and each account anniversary thereafter (Eligible Transaction Cap), regardless of the number of Qudos Bank Platinum Credit Cards held by you.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Saver, the Qantas Points Banking Terms and Conditions. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. A joining fee usually applies, however, Qudos Bank has arranged to provide Qantas Frequent Flyer membership with the joining fee waived to Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at http://qantas.com/joinffqudos. This offer is non transferable and not available in conjunction with any other offer. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued a group policy to Bank Australia Limited trading as Qudos Bank ABN 21 087 651 607 AFSL / Australian Credit Licence Number 238431, (Qudos Bank), which allows eligible Qudos Bank account holders and cardholders to claim under the group policy as a third party beneficiary by reason of the statutory operation of Section 48 of the Insurance Contracts Act 1984 (Cth). The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the Complimentary Travel Insurance Policy Information Booklet: Effective 1 July 2025 which may be amended from time to time. An excess may be deducted from any benefit paid. Qudos Bank does not guarantee this insurance. Any advice has been prepared without taking into account your objectives, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice.
Access the 24/7 Visa Premium Concierge service in Australia on 1800 639 607. For country contact numbers and more information, click here.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable rate
Current standard variable interest rate is 19.49% p.a.
Annual fee charged upon account opening and annually thereafter.
Up to 55 days interest free on purchases only applies if your account is paid in full by the due date each month. Excludes cash advances and BPAY transactions. Payment must be received by Qudos Bank by close of business.
Intro rate applies to all transactions (including purchases, cash advances and balance transfers) for the first five months from the first date your account is approved and then reverts to the standard variable interest rate.
Current standard variable interest rate is 16.35% p.a.
If you would like to request a larger amount, please call us on 1300 747 747.
A maximum amount of $150,000 applies for vehicles up to 3 years old and $75,000 for vehicles between 3 and 5 years old.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Saver, the Qantas Points Banking Terms and Conditions. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. A joining fee usually applies, however, Qudos Bank has arranged to provide Qantas Frequent Flyer membership with the joining fee waived to Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at http://qantas.com/joinffqudos. This offer is non transferable and not available in conjunction with any other offer. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Mortgage insurance is required for home loans over 80% and is subject to approval.
An establishment fee of $600 applies to this loan.
Waived annually whilst signed up to the Value Package. Only available for one Visa Platinum Credit Card per Value Package.
Repayment Holidays are not available on interest only loans. Applications are subject to Qudos Bank’s approval.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
A secured loan of $30,000 with a term of 5 years and a monthly repayment frequency has been used to calculate this comparison rate.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Saver, the Qantas Points Banking Terms and Conditions. Membership and the earning and redemption of Qantas Points are subject to the terms andconditions of the Qantas Frequent Flyer program available online at qantas.com/terms. A joining fee usually applies, however, Qudos Bank has arranged to provide Qantas Frequent Flyer membership with the joining fee waived to Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. This offer is non transferable and not available in conjunction with any other offer. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Qantas Points accrue in accordance with and subject to (1) for Visa Platinum Credit Card, the Visa Platinum Rewards Program Terms and Conditions (contained in the Credit Card Terms and Conditions) and (2) for Qantas Points Saver, the Qantas Points Banking Terms and Conditions. You must be a member of the Qantas Frequent Flyer program and provide your Qantas Frequent Flyer Membership number to us to earn and redeem Qantas Points. The joining fee is waived for Qudos Bank members who are not already a Qantas Frequent Flyer member and who apply at qantas.com/joinffqudos. Membership and the earning and redemption of Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available online at qantas.com/terms. This offer is non transferable and not available in conjunction with any other offer. Qantas Frequent Flyer membership and each application is subject to approval by Qantas. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities.
Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking Products and is a credit provider and credit licensee under National Consumer Credit laws.
Bonus Rate applied if no withdrawals are made during the month.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate is calculated on a loan of $150,000 for 25 years. For fixed rate loans, the comparison rate is based on the initial fixed rate period, reverting to the current interest rate applicable to a new principal and interest No Frills Home Loan with a deposit or equity of 20% or more, for the relevant purpose (ie. owner-occupied or investment). For fixed interest only loans, the interest only period is equal to the fixed period.
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 10% is required. Fixed rate may change prior to funding. On expiration of the fixed rate period, the interest rate will revert to a new principal and interest No Frills Home Loan with a deposit or equity of 20% of more, for the relevant purpose (ie. owner-occupied or investment).
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Our comparison rate assumes a loan of $150,000 for 25 years. The comparison rate is based on a 12 months interest only period, reverting to the interest rate applicable to a new principal and interest Low Cost Home Loan (Value Package) with a deposit or equity of 20% or more for the relevant purpose (ie. owner-occupied or investment).
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 10% is required. After completion of construction, your interest rate will revert to the current interest rate applicable to a new principal and interest Low Cost Home Loan (Value Package) with a deposit or equity of 20% or more, for the relevant purpose (ie. owner-occupied or investment).
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 5% is required. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the interest rate will revert to the variable interest rate applicable to a new principal and interest Standard Variable Home Loan with a deposit or equity of 20% or more, for the relevant purpose (ie. owner-occupied or investment). Interest only available for 1 to 5 years and are subject to approval.
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 10% is required. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the interest rate will revert to the variable interest rate applicable to a new principal and interest Low Cost Home Loan (Value Package) with a deposit or equity of 20% or more, for the relevant purpose (i.e. owner-occupied or investment). Interest only available for 1 to 5 years and are subject to approval.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Our comparison rate assumes a loan of $150,000 for 25 years. For interest only loans, the comparison rate is based on a 5-year interest only period, reverting to the interest rate applicable to a principal and interest loan with a deposit or equity of 20% or more for the relevant purpose (ie. owner-occupied or investment).
Excludes existing loans, switching and variations. These offers can be withdrawn by Qudos Bank at any time. Rates displayed above are available for new borrowings of $150,000 and over only. Minimum deposit or equity of 20% is required. For interest only loans, the rate shown is the rate that applies during the interest only period of your loan. At the end of the interest only period, the interest rate will revert to the variable interest rate applicable to a new principal and interest No Frills Home Loan for the relevant purpose (ie. owner-occupied or investment) with a deposit or equity of 20% or more. Interest only terms available for 1 to 5 years and are subject to approval.