Why choose a Smart Saver savings account?
Earn bonus interest
Add at least $100 to your balance, make no withdrawals – and enjoy a bonus interest boost.
Stay organised
Open up to three accounts to keep your different savings goals clear and on track.
Turn spending into saving
Pay&Save rounds up your purchases and puts the spare change into your savings.
Secure banking, anytime
With our mobile app and internet banking, you can bank easily and securely – day or night.
But wait, there’s more…
- Keep every dollar working for you with no monthly fees or minimum balance requirements.
- Be rewarded with up to 4.45% p.a. when you deposit at least $100 each month and don’t make any withdrawals.
- Reach your savings goals faster with bonus interest paid on balances up to $250,000.
- Your money is protected – total deposits up to $250,000 are covered by the Financial Claims Scheme.
How to earn bonus interest
Deposit $100 or more
Put at least $100 into your Smart Saver Account each month to grow your balance.
Make no withdrawals
Skip the withdrawals and watch your savings reap the benefits. Trust us – it's a smart move.
Earn bonus interest
Be rewarded with bonus interest paid on savings up to $250,000 – a little treat for sticking to your savings plan!
Interest rates & fees
Interest rates
| Rate type | Tier | Variable rate |
|---|---|---|
| Standard rate | $0 + | 0.50% p.a. |
| Bonus rate | Up to $250,000 | 3.95% p.a. |
| Total maximum rate (standard + bonus) | Up to $250,000 | 4.45% p.a. |
Interest is paid at the end of each calendar month on your Smart Saver Account.
Fees & charges
Our Smart Saver Account has no monthly or standard transaction fees.
Other fees and charges that may apply can be found on our account fees and charges page.
Open a savings account online in minutes
To open an account online, you'll need to be:
New customer
You can open a Smart Saver Account online in just a few minutes – no queues, no paperwork, just a few clicks and you're good to go.
Existing customer
It's quick and easy to open a new account anytime using internet banking or the mobile app.
Already bank with us?
You can open a new account through the mobile app or internet banking – no additional ID required.
Open an account online
To open an account online, you’ll need to:
- Be at least 18 years old
- Live in Australia with a current residential address
- Be applying as an individual (not a business or association)
- Have two forms of ID from the following:
- Western Australian driver’s licence
- Australian passport
- Green Medicare card
We also recommend having your tax file number (TFN) ready. If you earn more interest than the limit set by the ATO and you haven’t provided us with your TFN, withholding tax may be deducted from the interest you earn.
If you don’t meet the eligibility requirements to open an account online, you can still open an account at one of our branches.
Open an account in a branch
If you’d rather see a friendly face in person, or don’t meet the eligibility requirements to open an account online, drop into one of our branches. Make sure you bring the required documents with you so we can set up your account.
Budget like a boss with mymo
mymo is your personal banking buddy. It’s an app you can use with your P&N Bank accounts to help you budget like a boss.
Link up all your bank accounts to see all your income and expenses at a glance, track your spending, and set up bill reminders. Budget smarter, save more, and waste less.
Got a question about savings accounts?
You can have up to three Smart Saver accounts in total – which is perfect to help you stay organised and track your different savings goals!
Once you open your first account either online or in a branch, you can open more Smart Saver Accounts in your own name using the mobile app or internet banking. If you’d like to open a joint account, you’ll need to call us on 12 25 77, or visit your local branch.
To earn bonus interest, you‘ll need to deposit at least $100 each calendar month and not make any withdrawals.
If you do make a withdrawal, don’t stress – you’ll just earn the standard interest rate for that month, but you’ll have another chance to earn bonus interest again the next!
You’ll still earn the standard interest rate for the month, even if you dip into your savings. And don't worry – there's always next month to try and earn that bonus interest!
We're here to help
Open an account
You can open a Smart Saver Account online – it only takes a few minutes!
Get answers online
Got a question? Our help centre is the ideal place to start.
Important information
Banking and Credit products issued by Police & Nurses Limited (P&N Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms & conditions, fees & charges apply.
Read the relevant product terms and conditions before deciding if a product is right for you.
*Bonus interest is applied when a minimum of $100 is deposited and no withdrawals are made from the account during the calendar month. The standard rate will still apply if the bonus interest conditions aren’t met. Bonus interest is paid on balances up to $250,000, with balances more than of $250,000 earning only the standard rate.
Customers can hold up to three Smart Saver accounts in total, whether held in single or joint names.