BSB 806 015

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Following the Reserve Bank of Australia's announcement on Tuesday 3 May, we have released information on interest rate changes. View details

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BSB 806 015

Updates to interest rates on P&N Bank products

In response to the Reserve Bank of Australia’s (RBA) cash rate increase of 0.25% p.a. on Tuesday 3 May 2022, we will be increasing our home loan interest rates between 0.15% - 0.25% p.a., savings accounts by up to 0.15% p.a. and term deposit rates by up to 0.80% p.a.

The complete list of upcoming rate changes for P&N Bank products can be found below.

Effective from Wednesday 1 June 2022, the following changes to our variable home loan interest rates will apply:

Home loans Current rate New rate
Simple Home Loan 2.82% p.a. 2.97% p.a.
& Home Loan (Intro Rate) 2.64% p.a. 2.79% p.a.
& Home Loan 3.12% p.a. 3.27% p.a.
& Investor Home Loan (P&I) 3.23% p.a. 3.38% p.a.
& Investor Home Loan (IO) 3.43% p.a. 3.58% p.a.
& Basic Home Loan < 60% LVR 2.09% p.a. 2.34% p.a.
& Basic Home Loan > 60 - 90% LVR 2.19% p.a. 2.44% p.a.
& Investor Basic Loan < 70% LVR (P&I) 2.29% p.a. 2.54% p.a.
& Investor Basic Loan < 70% LVR (IO) 2.59% p.a. 2.84% p.a.
& Investor Basic Loan > 70% LVR (P&I) 2.49% p.a. 2.74% p.a.
& Investor Basic Loan > 70% LVR (IO) 2.74% p.a. 2.99% p.a.
Equity / Investor Access Home Loan 4.87% p.a. 5.12% p.a.
Reverse Mortgage Home Loan 5.40% p.a. 5.65% p.a.
Bridging Home Loan 5.27% p.a. 5.52% p.a.
Smooth Home Loan < 80% LVR 3.87% p.a. 4.12% p.a.
Smooth Home Loan > 80% LVR 3.97% p.a. 4.22% p.a.
Variable Home Loan (Owner Occupied)^ 2.82% p.a. 2.97% p.a.
Variable Home Loan (Investor)^ 3.23% p.a. 3.38% p.a.
Easy Living Access Loan# 5.40% p.a. 5.65% p.a.

#No longer available for sale.

^Not available for sale. Fixed Rate Home Loans will automatically roll over to this product at the end of the fixed period.

Effective from Wednesday 1 June 2022, the following changes to our credit card interest rates will apply:

& Visa Platinum Credit Card Current rate New rate
Purchase Interest Rate 3.12% p.a. 3.27% p.a.
Balance Transfer Interest Rate 3.12% p.a. 3.27% p.a.
Cash Advance Interest Rate (no change) 19.99% p.a. 19.99% p.a.
Simple Visa Credit Card (discontinued) Current rate New rate
Purchase Interest Rate 2.82% p.a. 2.97% p.a.
Balance Transfer Interest Rate 2.82% p.a. 2.97% p.a.
Cash Advance Interest Rate (no change) 19.99% p.a. 19.99% p.a.

Effective from Friday 13 May 2022, the following changes to our Fixed Rate Home Loans will apply:

Fixed Rate Home Loans (Owner Occupied) Current rate New rate
Fixed Rate 1 Year < 80% LVR 2.99% p.a. 3.09% p.a.
Fixed Rate 1 Year > 80% LVR 3.14% p.a. 3.24% p.a.
Fixed Rate 2 Year < 80% LVR 3.29% p.a. 3.59% p.a.
Fixed Rate 2 Year > 80% LVR 3.44% p.a. 3.74% p.a.
Fixed Rate 3 Year < 80% LVR 3.74% p.a. 3.94% p.a.
Fixed Rate 3 Year > 80% LVR 3.84% p.a. 4.04% p.a.
Fixed Rate 4 Year < 80% LVR 4.14% p.a. 4.54% p.a.
Fixed Rate 4 Year > 80% LVR 4.19% p.a. 4.59% p.a.
Fixed Rate 5 Year < 80% LVR 4.44% p.a. 4.64% p.a.
Fixed Rate 5 Year > 80% LVR 4.54% p.a. 4.74% p.a.
Fixed Rate Home Loans (Investor) Current rate New rate
Fixed Rate 1 Year < 80% LVR 3.19% p.a. 3.29% p.a.
Fixed Rate 1 Year > 80% LVR 3.39% p.a. 3.49% p.a.
Fixed Rate 2 Year < 80% LVR 3.49% p.a. 3.79% p.a.
Fixed Rate 2 Year > 80% LVR 3.69% p.a. 3.99% p.a.
Fixed Rate 3 Year < 80% LVR 3.89% p.a. 4.24% p.a.
Fixed Rate 3 Year > 80% LVR 4.09% p.a. 4.44% p.a.
Fixed Rate 4 Year < 80% LVR 4.29% p.a. 4.64% p.a.
Fixed Rate 4 Year > 80% LVR 4.49% p.a. 4.84% p.a.
Fixed Rate 5 Year < 80% LVR 4.49% p.a. 4.79% p.a.
Fixed Rate 5 Year > 80% LVR 4.69% p.a. 4.99% p.a.

Effective from Friday 13 May 2022, the following changes to our savings account interest rates will apply:

Hi Saver Account Current rate New rate
Standard Rate $0 - $4,999.99 (no change) 0.00% p.a. 0.00% p.a.
Standard Rate $5,000+ (no change) 0.05% p.a. 0.05% p.a.
Bonus Rate $5,000+ 0.45% p.a. 0.60% p.a.
& Retirement Account Current rate New rate
$0+ 0.25% p.a. 0.35% p.a.
Business Saver Account Current rate New rate
$0 - $4,999.99 0.00% p.a. 0.15% p.a.
$5,000+ 0.10% p.a. 0.25% p.a.

Effective from Friday 13 May 2022, the following changes to our term deposits interest rates will apply:

Money Maker Term Deposits ($5,000+) Current rate New rate
2 months 0.10% p.a. 0.35% p.a.
3 months 0.60% p.a. 0.80% p.a.
& Retirement Term Deposit (3 months) 0.65% p.a. 0.85% p.a.
4 months 0.60% p.a. 0.80% p.a.
5 months 0.60% p.a. 0.80% p.a.
6 months 0.80% p.a. 1.00% p.a.
7 months 0.30% p.a. 0.60% p.a.
8 months 0.30% p.a. 0.60% p.a.
9 months 0.30% p.a. 0.60% p.a.
10 months 0.30% p.a. 0.60% p.a.
11 months 0.30% p.a. 0.60% p.a.
Regular Income Term Deposits ($5,000+) Current rate New rate
12 - 35 months (Interest paid monthly) 0.85% p.a. 1.10% p.a.
12 - 35 months (Interest paid quarterly) 0.85% p.a. 1.10% p.a.
12 - 35 months (Interest paid annually) 0.85% p.a. 1.10% p.a.
36 - 60 months (Interest paid monthly) 0.95% p.a. 1.75% p.a.
36 - 60 months (Interest paid quarterly) 0.95% p.a. 1.75% p.a.
36 - 60 months (Interest paid annually) 0.95% p.a. 1.75% p.a.

View all interest rates

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