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Lock in a great term deposit rate, and know exactly how much interest you’ll earn.

On your terms

Pick a term that suits you – from two months to five years.

No monthly fees

With no fees, every dollar in your term deposit will help your savings grow.

Peace of mind

Total deposits up to $250k are protected by the Financial Claims Scheme.

Choose the right term deposit for you

Money Maker Term Deposit

Interest paid at maturity for terms between 2 and 12 months.

Up to
% p.a.
4 months
  • Minimum amount of $5,000
  • Maximum amount of $1 million
  • Interest paid at maturity
  • Interest paid monthly, quarterly, or annually

Regular Income Term Deposit

Interest paid monthly, quarterly or annually on terms between 12 and 60 months.

Up to
% p.a.
12 - 35 months
  • Minimum amount of $5,000
  • Maximum amount of $1 million
  • Interest paid at maturity
  • Interest paid monthly, quarterly, or annually

Grow your hard-earned savings, easily

  • Enjoy highly competitive, guaranteed fixed term rates.
  • Choose a term between 2—12 months with your interest paid on maturity.
  • Receive more regular interest payments (monthly, quarterly or annually) on terms between 12 - 60 months.
  • Rest easy knowing total deposits up to $250,000 are protected by the Financial Claims Scheme.

Interest rates

With our fixed term deposits, you can get your interest paid at maturity with our Money Maker, or you can receive it monthly, quarterly, or annually instead with our Regular Income term deposit. The choice is yours!

Money Maker Term Deposit

You can choose a fixed term between 2 and 12 months and then when your term is up, your interest is either added to your term deposit paid to your savings. Ka-ching!

Term Interest paid Interest rate
2 months At maturity 1.75% p.a.
3 months At maturity 4.60% p.a.
4  months At maturity 5.00% p.a.
5 months At maturity 3.40% p.a.
6 months At maturity 4.70% p.a.
7 months At maturity 4.20% p.a.
8 months At maturity 4.20% p.a.
9 months At maturity 4.40% p.a.
10 months At maturity 3.80% p.a.
11 months At maturity 3.80% p.a.
12 months At maturity 4.50% p.a.

Regular Income Term Deposit

You have the option of a regular income over a fixed term of 12 to 60 months. Opt for monthly, quarterly or annual interest that you can either leave in your term deposit to compound (so you’re earning interest on your interest), or withdraw. 

Term Interest paid Interest rate
12 - 35 months   Monthly 4.55% p.a.
12 - 35 months Quarterly 4.55% p.a.
12 - 35 months Annually 4.55% p.a.
36 - 60 months Monthly 4.20% p.a.
36 - 60 months Quarterly 4.20% p.a.
36 - 60 months Annually 4.20% p.a.

3 month & Retirement Term Deposit

Enjoy a fixed interest rate that’s better than the standard 3-month P&N Term Deposit rate. Available only to people 55 years of  age or older with an .

Term Interest rate Interest credited
3 months 4.65% p.a. At maturity

Don't forget - if you'd like your interest paid to another account, just let us know before your term deposit rolls over!

How much interest could you earn?

See how your pot of gold could grow with the help of our simple-to-use calculator. No rainbow required!

Savings and term deposit calculator

More calculators

How to open your term deposit

Existing customers

If you’re opening a Money Maker Term Deposit account for yourself, simply log in to internet banking or the mobile app and go to ‘Apply’ or ‘Open account’. To open a Regular Income Term Deposit, you can call or message us and one of our friendly team will be happy to assist. 

New customers

Open your account online

You can open a Money Maker term deposit online. First, you’ll need to set up a transaction or savings account to receive your funds, which is quick and easy. You’ll need to be an Australian resident and at least 18 years of age.

Open an account online View all everyday accounts

Once your funds are in your account, you can open a Money Maker Term Deposit using internet banking or the mobile app. 

Open your account in person at a branch

Open any term deposit account by visiting your nearest branch.  We have branches across Perth and south to Bunbury.

New customers

To open your account online you will need to be:

  • over 18 years of age
  • an individual (not a business or association)
  • an Australian resident with a current Australian residential address.

And you’ll need to provide two of the following:

  • a valid Australian driver's licence;
  • an Australian passport;
  • a Medicare card (green).

Handy hint: Have your tax file number ready. If you earn more interest than the limit set by the ATO, you need to pay tax. To avoid this, provide your tax file number when applying.

Open your account in a branch

If you don’t already bank with us you’ll need to bring your Australian driver's licence or a valid Australian passport for ID.

A list of alternative identification documents is available for anyone who:

  • is under 18 years of age
  • is a non-resident
  • doesn't have an Australian photo identity document

We're here to help

Talk to us

Whether you’d prefer to chat to us over the phone, in person, or online, you can get in touch.

Find a branch

We’ve got branches all over the Perth region, and as far south as Bunbury.

Get answers online

We’ve got heaps of info and answers to your questions in our comprehensive help centre.

Your term deposit questions answered

At the time of opening your term deposit account, you set instructions for what you would like us to do at the maturity of the term deposit. This can include

  • closing the account and transferring funds to another nominated account, 
  • renewing the term deposit for a further period
  • or a combination of these options.

These instructions can be amended any time up to your term deposit maturity or within the grace period following the account maturity. 

When your fixed term deposit matures you can choose to leave your money - and the interest you've earned - in a term deposit (it’s what we call a rollover) or you can withdraw your money. 

View the Term Deposit Account Terms & Conditions for more information about rollovers.

Savings accounts offer you the freedom to add to your savings when it suits you and access your money when you need it. 

Interest rates on savings accounts are variable and can change at any time and some accounts will pay bonus interest too.

On the flip side, a term deposit offers you a fixed rate of interest for a set period of time (the term) - a sure-fire way to watch your savings grow! You usually can't add further money to the account during the term and by locking your money away you'll know exactly how much you'll have at the end of your term.

P&N Bank, a division of Police & Nurses Limited is an authorised deposit-taking institution (ADI) and regulated to the same high standards as the major banks by such government agencies as APRA, ASIC, AUSTRAC and the ACCC.

The Financial Claims Scheme (FCS) is an Australian government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other ADI that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

Find out when the FCS would come into effect

More information on the Financial Claims Scheme is available on the FCS website.



If you already have a transaction or savings account with us you can log in to internet banking or the mobile app and open up a Money Maker term deposit account online in a matter of minutes.

To open a Regular Income Term Deposit, you can contact us via secure mail, call 13 25 77 or visit your nearest branch.

New customer?

If you’re new to P&N, you can easily open a transaction or savings account online, and then open your Term Deposit account via internet banking or the mobile app.

Open a term deposit online

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. 

Please consider the terms and conditions and whether a product is right for you. 

We calculate interest daily by multiplying the balance of your deposit by the fixed interest rate. Interest can be added to the principal amount, or you can request for it to be credited to your nominated bank account.

For amounts under $5,000 please refer to the Hi Saver Account or SwiftSaver Account.