Do I need to have a minimum starting balance to open a Defence Bank Super Assured RSA?
Yes.
- A minimum balance of $10,000 is required to open an RSA Accumulation account.
- If no contributions are received within six months, the account may be closed.
- To convert from accumulation to pension phase, a minimum balance of $50,000 is required.
For full details, refer to the Retirement Savings Account PDS.