Everyday account interest rates
The rates outlined below are effective 20 October 2026. Rates are subject to change and may change at any time including between the time you apply for a transaction account and when your account is opened.
Interest is calculated daily and paid at the end of each calendar month on all of our current interest-earning everyday accounts.
Momentum Account¹
An everyday account with a stepped interest rate available exclusively to those over 55. Learn how stepped interest rates work.
Learn more| Tier | Variable rate |
|---|---|
| $0 - $9,999.99 | 0.30% p.a. |
| $10,000 - $49,999.99 | 1.85% p.a. |
| $50,000 - $99,999.99 | 2.35% p.a. |
| $100,000+ | 2.70% p.a. |
Everyday accounts that don't earn interest
The following everyday accounts do not earn interest:
& Access Account
& Transaction Account
Budgeting Account
Business Account
Community Account
Concession Account²
Easypay Access Account
If your everyday account is overdrawn, interest will be charged on the overdrawn balance, and will be calculated daily at 16.69% p.a. and charged to the account at the end of the month or in line with when interest is paid.
Everyday accounts no longer available
The interest rates below are the current interest rates for our everyday accounts that are no longer available for sale.
| Rate type | Variable rate |
|---|---|
| Standard rate | 0.95% p.a. |
Interest is calculated daily and paid at the end of each calendar month.
| Tier | Variable rate |
|---|---|
| Under $66,800 | 1.75% p.a. |
| $66,800.01+ | 3.75% p.a. |
Interest is calculated daily and paid quarterly.
This account does not earn interest.
This account does not earn interest.
This account does not earn interest.
This account does not earn interest.
Savings account interest rates
The rates outlined below are effective 1 November 2026. Rates are subject to change and may change at any time including between the time you apply for a savings account and when your account is opened.
Interest is calculated daily and paid at the end of each calendar month on all of our current savings accounts.
Savvy Saver Account³
To earn bonus interest, deposit $500 or more from an external account and make 5 Visa card purchases from a linked & Transaction Account each calendar month.
Learn more| Rate type | Tier | Variable rate |
|---|---|---|
| Standard rate | $0+ | 0.20% p.a. |
| Bonus rate | Up to $100,000 | 5.30% p.a. |
| Standard & bonus rate | Up to $100,000 | 5.50% p.a. |
Hi Saver Account⁴
An introductory interest rate applies for the first four months from the day your account is opened. After this period ends, your balance will earn the standard variable interest rate.
Learn more| Rate type | Tier | Variable rate |
|---|---|---|
| Standard rate | $0+ | 0.05% p.a. |
| Bonus rate | Up to $5 million | 5.55% p.a. |
| Standard & bonus rate | Up to $5 million | 5.60% p.a. |
Smart Saver Account⁵
Bonus interest is paid when you deposit at least $100 and don’t make any withdrawals during the calendar month.
Learn more| Rate type | Tier | Variable rate |
|---|---|---|
| Standard rate | $0+ | 0.50% p.a. |
| Bonus rate | Up to $250,000 | 4.85% p.a. |
| Standard & bonus rate | Up to $250,000 | 5.35% p.a. |
| Tier | Variable rate |
|---|---|
| Under $5,000 | 3.80% p.a. |
| $5,000+ | 0.00% p.a. |
Business Saver Account
Available to eligible Australian businesses with a registered ABN and Australian address.
Learn more| Tier | Variable rate |
|---|---|
| Under $5,000 | 1.60% p.a. |
| $5,000+ | 1.85% p.a. |
If your savings account is overdrawn, interest will be charged on the overdrawn balance, and will be calculated daily at 16.69% p.a. and charged to the account at the end of the month or in line with when interest is paid.
Savings accounts no longer available
The interest rates below are the current interest rates for our savings accounts that are no longer available for sale.
| Rate type | Variable rate |
|---|---|
| Donation Saver | 0.25% p.a. |
| Charity donation | 1.00% p.a. |
Interest is calculated daily and paid at the end of each calendar month.
The charity donation rate displayed above is applied to the annual average balance of your Donation Saver and paid by P&N Bank to your nominated charity at the end of the financial year.
| Tier | Variable rate |
|---|---|
| Under $5,000 | 0.00% p.a. |
| $5,000+ | 0.05% p.a. |
Interest is calculated daily and paid at the end of each calendar month.
| Rate type | Tier | Variable rate |
|---|---|---|
| Standard rate | $0+ | 0.01% p.a. |
| Bonus rate | Up to $250,000 | 3.74% p.a. |
| Standard & bonus rate | Up to $250,000 | 3.75% p.a. |
Interest is calculated daily and paid at the end of each calendar month.
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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. Eligibility criteria, terms & conditions, fees & charges apply.
Read the relevant product terms and conditions before deciding if a product is right for you.
Deposits may be guaranteed by the Australian Government’s Financial Claims Scheme, which is a government-backed safety net for deposits of up to $250,000 (per account holder per Authorised Deposit-taking Institution).
The interest rate displayed in the mobile app and internet banking is the base rate. The bonus rate will not be displayed. Your eligibility for bonus interest will be calculated in accordance with the Savings Accounts & Account Access Channels Terms & Conditions.
1. Momentum Account
One of the account holders must be at least 55 years of age. Customers can hold up to three Momentum Accounts in total, whether held in single or joint names.
A stepped interest rate is paid on the portion of the account balance within each tier, at the applicable rate for that tier. For example, the interest rate paid on the first $9,999.99 of your account balance may be different to the interest rate paid on any account balance of $10,000 or more.
2. Concession Account
To be eligible for the Concession Account each account holder must have one of the following Australian government cards:
- Commonwealth Senior Health Card
- Pensioner Concession Card
- Health Care Card
- Department of Veteran's Affairs Card (DVA)
3. Savvy Saver Account
Bonus interest payable on balances up to $100,000 when during the calendar month:
- at least $500 from an external account is deposited (excluding ATM withdrawals, balance enquiries and transfers, direct debits, Bank@Post™ transactions, BPAY payments and uncleared transactions) into your P&N & Transaction Account(s); and
- you make at least 5 eligible Visa card transactions (excluding ATM withdrawals, balance enquiries and transfers, direct debits, Bank@Post™ transactions, BPAY payments and uncleared transactions) from a linked P&N & Transaction Account.
Standard rate applies if conditions not met. Interest applies to Savvy Saver Account balance only, & Transaction Account balance not included.
You may hold a maximum of one Savvy Saver Account only, either as a single account holder or joint account holder.
BPAY® is registered to BPAY Pty Ltd ABN 69 079 137 518.
Bank@Post is an agency service provided by Australia Post on behalf of over 80 financial institutions.
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.
4. Hi Saver Account
An introductory bonus rate will apply on balances up to $5m per account for the first 4 months, in addition to the standard rate from the account opening date. At the end of the introductory period the standard interest rate at that time will apply.
A customer may hold a maximum of one Hi Saver Account as a single account holder and one Hi Saver Account as a joint account holder. You may apply to open a Hi Saver Account 12 months from the date of closing any previously owned Hi Saver Account as a single or joint account holder.
5. Smart Saver Account
Bonus interest applied when minimum $100 deposited and no withdrawals are made from the account during the calendar month. Standard interest applies if the bonus interest conditions aren’t met and on balances exceeding $250,000.
Customers can hold up to three Smart Saver accounts in total, whether held in single or joint names.
6. Way Cool Saver Account
Available to customers under 16 years of age. Visa Debit card access is not available. The account will automatically convert to a Student Account when the account holder turns 16.
7. SwiftSaver Account
Bonus interest is applied when minimum of $10 is deposited and no withdrawals are made from the account during the calendar month. Bonus interest is paid on balances up to $250,000, with balances in excess of $250,000 receiving the standard rate.