Enjoy a competitive interest rate on a 6 month term deposit for investments between $5,000 and $1 million.
It's easy to open a Money Maker Term Deposit online. And it's as simple as set (up), forget, and have your interest paid at maturity.
The benefits speak for themselves
Peace of mind
Total deposits up to $250k are protected by the Financial Claims Scheme.
Fixed interest rate
The interest rate is fixed for your chosen term, so you can know exactly how much your savings will grow by.
Open your term deposit online
If you already have a bank account with us, our Money Maker Term Deposits can be opened easily online.
Our term deposits are award-winning
We’re proud to announce that P&N Bank has been recognised in the 2024 Money Magazine Best of the Best Awards. And we've been awarded the 'Best Value Long Term Deposit 2024'.
Check out our trophy case
Looking to invest for a different term?
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
| Term | Interest rate | Interest paid |
|---|---|---|
| 3 months | 4.40% p.a. | At maturity |
| 9 months | 4.40% p.a. | At maturity |
| 12 months | 4.50% p.a. | At maturity |
Regular Income Term Deposit
| Term | Interest rate | Interest paid |
|---|---|---|
| 12 - 35 months | 4.55% p.a. | Monthly, quarterly, or annually |
| 36 - 60 months | 4.20% p.a. | Monthly, quarterly, or annually |
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
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Your term deposit questions answered
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.
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.
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.
Need more info? We can help!
Talk to us
Whether you’d like to chat to us over the phone, in person, or online, you can get in touch.
Open an account
If you already bank with us, you can open a term deposit online in minutes! And if you don't, it's super easy to get started.
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.