The rates outlined below are effective 1 June 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.
Savvy Saver Account¹
| Rate type | Tier | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|---|
| Standard rate | $0 + | 0.20% p.a. | Daily balance | End of month |
| Bonus rate | Up to $100,000 | 5.05% p.a. | ||
| Standard & bonus rate | Up to $100,000 | 5.25% p.a. |
Hi Saver Account²
| Rate type | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|
| Standard rate | 0.05% p.a. | Daily balance | End of month |
| Bonus rate | 5.15% p.a. | ||
| Standard & bonus rate | 5.20% p.a. |
Smart Saver Account³
| Rate type | Tier | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|---|
| Standard rate | $0 + | 0.50% p.a. | Daily balance | End of month |
| Bonus rate | Up to $250,000 | 4.60% p.a. | ||
| Standard & bonus rate | Up to $250,000 | 5.10% p.a. |
Way Cool Saver Account
| Tier | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|
| Under $5,000 | 3.55% p.a. | Daily balance | End of month |
| $5,000 + | 0.00% p.a. |
Business Saver Account
| Tier | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|
| Under $5,000 | 1.35% p.a. | Daily balance | End of month |
| $5,000 + | 1.60% 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 the dates detailed above.
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 | Interest calculated | Interest credited |
|---|---|---|---|
| Donation Saver | 0.25% p.a. | Daily balance | End of month |
| Charity donation | 1.00% p.a. | Annual average balance | End of financial year |
| Tier | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|
| Under $5,000 | 0.00% p.a. | Daily balance | End of month |
| $5,000 + | 0.05% p.a. |
| Rate type | Tier | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|---|
| Standard rate | $0 + | 0.01% p.a. | Daily balance | End of month |
| Bonus rate | Up to $250,000 | 3.74% p.a. | ||
| Standard & bonus rate | Up to $250,000 | 3.75% p.a. |
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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).
1. 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 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.
2. 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. Interest applies to Hi Saver Account balance only.
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.
3. 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.