Why choose an & Access offset account?
Fee-free banking
100% offset
Bank online, 24/7
Visa Debit card
More than your standard everyday bank account
- 100% of the money in your account counts towards reducing the interest on your linked eligible home loan, so you could pay off your loan sooner.
- Open up to three 100% offset accounts so your savings can reduce the amount of interest you pay on your home loan.
- Tap and pay securely with your smartphone using Apple Pay, Google Pay™ or Samsung Pay.
- Free cash withdrawals at atmx terminals and all major bank ATMs across Australia.
- Use card controls to block transactions such as online, overseas or Visa payWave.
- Lost your card? Lock it temporarily while you look for it, or cancel it and request a new one (you’ll get a new digital card instantly).
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Rates & fees
Your everyday bank account offsetting your home loan. It’s smart, it’s simple, and it just makes sense.
Interest rates
| Balance |
Interest rate
|
Interest calculated | Interest credited |
|---|---|---|---|
| Any balance | 100% offset against linked home loan | Daily | N/A |
| The basics | |
|---|---|
| Monthly fee | $0 |
| Minimum monthly balance | No |
| Everyday transactions | |
|---|---|
| EFTPOS and Visa purchase | Free |
| Withdrawal at atmx and major bank ATMs in Australia | Free |
| Internet banking & mobile app transfer | Free |
| BPAY® transaction | Free |
| Direct debits and direct credits | Free |
| Non-standard transactions | |
|---|---|
| Bank@Post™ withdrawal | $3.00 |
| Bank@Post™ deposit | Free |
| Card replacement - standard | $10.00 |
Other fees and charges may apply. For more information, please read the full list of account fees and charges.
To be eligible for the & Access offset account, you’ll need to have a P&N Bank home loan with an offset facility available.
Once you’ve found a home loan that takes your fancy, you’ve got a couple of options:
- You can request an appointment at one of our branches, virtually, or a mobile lender can come to you, or
- you can enquire online and request a call back from one of our lending specialists.
If you already have your home loan with us and want to speak to a lender about switching loans so you can benefit from the & Access Account, please call us on 13 25 77 or visit your nearest branch.
Your home lender will confirm the documents we'll need to open your & Access Account.
If you don’t already bank with us, you’ll need your Australian driver’s licence or a valid passport.
If you’re not an Australian resident or don’t have photo ID, we also accept alternative forms of identification.
To be eligible for the & Access offset account, you’ll need to have a P&N Bank home loan with an offset facility available.
Once you’ve found a home loan that takes your fancy, you’ve got a couple of options:
- You can request an appointment at one of our branches, virtually, or a mobile lender can come to you, or
- you can enquire online and request a call back from one of our lending specialists.
If you already have your home loan with us and want to speak to a lender about switching loans so you can benefit from the & Access Account, please call us on 13 25 77 or visit your nearest branch.
Got a question about offset accounts?
An offset account is a bank account that is linked to your eligible home loan. The balance of the account is used to offset the balance of your home loan and reduces the amount of interest you get charged. This means every dollar you keep in your offset account can help you save money on your home loan.
For example, if you have a $400,000 home loan and $20,000 in your offset account, you'll only be charged interest on your home loan on a balance of $380,000.
You may link up to three offset accounts to your eligible home loan, whether held in single or joint names. These accounts must be in the name of one or more (or all) of the home loan borrowers.
You can have up to three & Access Offset accounts (whether in single or joint names) in total linked to an eligible home loan.
These accounts must be in the name of one or more (or all) of the home loan borrowers.
An offset account is a bank account linked to your home loan. The balance in your account is used to offset the outstanding balance of your loan, which reduces the amount of interest you’re charged. You can use your offset account the same way you would a transaction account, so it’s a great option to deposit your salary and manage your everyday banking.
A redraw facility is a feature available on some variable rate home loans, and isn't a separate bank account. It allows you to withdraw any extra money you've paid towards your home loan over and above your minimum required repayments.
Both offset accounts and redraw facilities can help reduce the amount of interest you pay on your home loan, which could mean you pay your loan off sooner.
One of our experienced home loan specialists can assist you with switching your home loan. We can meet with you at one of our branches, at your home or workplace, or even via video appointment.
You can also call us on 13 25 77 to make an appointment to speak one of our experienced home loan specialists.
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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.
The & Access Account is only available to customers who have an & Home Loan after October 2015, Simple Home Loan, Offset Home Loan, Offset Variable Home Loan, Investor Offset Home Loan or & Investor Home Loan.
100% of deposit balance is offset against the balance of the linked home loan.
Bank@Post™ deposits and withdrawals are available only with a P&N VISA Card. Cheques must be made out in the name of the cardholder to be accepted at Bank@Post™ and require a minimum of 7 business days for clearance.
BPAY® is registered to BPAY Pty Ltd ABN 69 079 137 518.