BSB 806 015

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BSB 806 015

P&N Bank interest rates

Discover P&N Bank’s current interest rates for our different loan products, credit cards, and savings accounts.

Are you looking for the latest rate change information? Find out more.

& Transaction Account

Product Name Tier Rate Interest Calculated Interest Credited
& Transaction Account > $0 n/a Daily balance N/A

& Retirement Account

Product Name Tier Rate Interest Calculated Interest Credited
& Retirement Account > $0 2.00% p.a. Daily balance Last day of every month

Budgeting Account

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Budgeting Account $0 - $99,999 0.01% p.a. Minimum monthly balance Last day of every month
Budgeting Account > $100,000 0.05% p.a. Minimum monthly balance Last day of every month

Concession Account

Product Name Tier Rate Interest Calculated Interest Credited
Concession Account > $0 n/a Daily balance N/A

Business Account

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Business Account $0 - $99,999 0.01% p.a. Minimum monthly balance Last day of every month
Business Account > $100,000 0.05% p.a. Minimum monthly balance Last day of every month

Community Account

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Community Account $0 - $99,999 0.01% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month
Community Account > $100,000 0.05% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month

& Access Account^*

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
& Access Account > $0 n/a Daily balance N/A

Easypay Mortgage Breaker*

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Easypay Mortgage Breaker > $0 n/a Daily balance N/A

Easypay Plus Access Account

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Easypay Plus Access Account $0 - $99,999 0.01% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month
Easypay Plus Access Account > $100,000 0.05% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month

Easypay Plus Mortgage Breaker Account*

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Easypay Plus Mortgage Breaker > $0 n/a Daily balance N/A

Easypay Access Account

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Easypay Access Account $0 - $99,999 0.01% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month
Easypay Access Account > $100,000 0.05% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month

Easy Living Savings Account#

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Easy Living Savings Account $0 - $99,999 0.01% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month
Easy Living Savings Account > $100,000 0.05% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month

Easy Living Deeming Account#

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Easy Living Deeming Account < $60,400 0.25% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month
Easy Living Deeming Account > $60,400 2.25% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month

Student Account#

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Student Account $0 - $99,999 0.01% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month
Student Account > $100,000 0.05% p.a. Daily balance Quarterly - Mar, Jun, Sept, Dec. Last day of month

^Available to members who have acquired an & Home Loan after October 2015, & Home Loan Intro Rate, Simple Home Loan, Offset Home Loan or & Investor Home Loan.

*100% of deposit balance is offset against the balance of the linked home loan.

# No longer available for sale. 

Where any transaction 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 in accordance with the dates detailed above. All rates are subject to change without notice.​​​​​​

Hi Saver*

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Hi Saver (Standard Rate) > $0 1.00% p.a. Daily balance Last day of every month
Hi Saver (Bonus Rate) > $0 4.15% p.a. Daily balance Last day of every month
Hi Saver (Standard & Bonus Rate) > $0 5.15% p.a. Daily balance Last day of every month

* The Hi Saver bonus interest rate applies for the first four months from account opening date. At the end of the bonus period the standard ongoing variable interest rate applicable at that time will apply. If your Hi Saver account was opened on or after 1 April 2023, balances above $0 will be eligible for the bonus rate for the first four months from the date of opening your account. If your Hi Saver account was opened before 1 April, 2023 please refer to the Savings and Transaction Interest Rate Schedule for current rates applicable.

SwiftSaver Account^

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
SwiftSaver Account (Standard Rate) > $0 0.20% p.a. Daily balance Last day of every month
SwiftSaver Account (Bonus Rate) $0 - $250,000 4.35% p.a. Daily balance Last day of every month
SwiftSaver Account (Standard & Bonus Rate) $0 - $250,000 4.55% p.a. Daily balance Last day of every month

^ Bonus interest applied when minimum $10 deposited and no withdrawals 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.

Way Cool Saver Account

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Way Cool Saver $0 - $4,999 3.05% p.a. Daily balance Last day of every month
Way Cool Saver > $5,000 0.00% p.a. Daily balance Last day of every month

Donation Saver#

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Donation Saver > $0 0.25% p.a. Daily balance Last day of every month
Charity Donation > $0 1.00% p.a. Annual average balance End of Financial Year

Business Saver

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
Business Saver $0 - $4,999 1.45% p.a. Daily balance Last day of every month
Business Saver > $5,000 1.75% p.a. Daily balance Last day of every month

CashSaver Account#

Product Name Tier Rate
(Variable)
Interest Calculated Interest Credited
CashSaver Account $0 - $4,999 0.00% p.a. Daily balance Last day of every month
CashSaver Account > $5,000 0.90% p.a. Daily balance Last day of every month

# No longer available for sale.

Where any transaction 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 in accordance with the dates detailed above. All rates are subject to change without notice.

Term Deposit - Money Maker

Term $5,000 - $1,000,000 Interest Paid
2 months 1.75% p.a. At maturity
3 months 4.40% p.a. At maturity
4 months 3.75% p.a. At maturity
5 months 3.40% p.a. At maturity
6 months 4.50% p.a. At maturity
7 months 4.40% p.a. At maturity
8 months 4.70% p.a. At maturity
9 months 4.70% p.a. At maturity
10 months 3.80% p.a. At maturity
11 months 3.80% p.a. At maturity
12 months 4.90% p.a. At maturity

Term Deposit - Regular Income

Term $5,000 - $1,000,000 Interest Paid
12-35 months 4.55% p.a. Monthly
12-35 months 4.55% p.a. Quarterly
12-35 months 4.55% p.a. Annually
36-60 months 4.20% p.a. Monthly
36-60 months 4.20% p.a. Quarterly
36-60 months 4.20% p.a. Annually

& Retirement Term Deposit^

Term $5,000 - $1,000,000 Interest Paid
3 months 4.45% p.a. At maturity

We calculate interest daily by multiplying the balance of your deposit by the fixed interest rate. Interest is paid at maturity for terms under 12 months only. For terms of 12 months or more interest can be paid monthly, quarterly, or annually. Interest can be added to the principal amount, or you can request for it to be credited to your nominated bank account.

Please note that interest rates for amounts of $1,000,000 and over are by negotiation. For more detailed information please refer to the Terms & Conditions and Term Deposit Interest Rate Schedule.

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

^To be eligible for the & Retirement Term Deposit, at least one account holder must hold a & Retirement Account.

Target Market Determinations (TMDs) are available for products.

Interest rates below apply to new loan applications and refinances.

Owner occupied home loans

& Basic Home Loan

Product Name LVR Rate
(Variable)
Comparison Rate
& Basic Home Loan < 60.00% 6.24% p.a. 6.25% p.a.
& Basic Home Loan < 80.00% 6.29% p.a. 6.30% p.a.
& Basic Home Loan < 95.00% 6.59% p.a. 6.60% p.a.

Offset Home Loan

Product Name LVR Rate
(Variable)
Comparison Rate
Offset Home Loan < 60.00% 6.39% p.a. 6.40% p.a.
Offset Home Loan < 80.00% 6.49% p.a. 6.50% p.a.
Offset Home Loan < 95.00% 6.79% p.a. 6.80% p.a.

& Home Loan Intro Rate

Product Name LVR Rate Comparison Rate
& Home Loan Intro Rate* < 95.00% 6.74% p.a. 7.18% p.a.

*Available for a limited time, only for new owner occupier borrowings up to 95% of the property value. Minimum loan amount $150,000. Rate reverts to & Home Loan rate after 12 months (currently 7.22% p.a.)

& Home Loan

Product Name LVR Rate
(Variable)
Comparison Rate
& Home Loan < 95.00% 7.22% p.a. 7.23% p.a.

Fixed Rate Home Loan - Owner Occupied

Product Name LVR Term Rate
(Fixed)
Comparison Rate
Fixed Rate Home Loan < 80.00% 1 Year 6.54% p.a. 6.32% p.a.
Fixed Rate Home Loan > 80.00% 1 Year 6.64% p.a. 6.33% p.a.
Fixed Rate Home Loan < 80.00% 2 Year 5.99% p.a. 6.24% p.a.
Fixed Rate Home Loan > 80.00% 2 Year 6.09% p.a. 6.26% p.a.
Fixed Rate Home Loan < 80.00% 3 Year 6.39% p.a. 6.33% p.a.
Fixed Rate Home Loan > 80.00% 3 Year 6.49% p.a. 6.35% p.a.
Fixed Rate Home Loan < 80.00% 4 Year 6.49% p.a. 6.37% p.a.
Fixed Rate Home Loan > 80.00% 4 Year 6.59% p.a. 6.41% p.a.
Fixed Rate Home Loan < 80.00% 5 Year 6.49% p.a. 6.39% p.a.
Fixed Rate Home Loan > 80.00% 5 Year 6.59% p.a. 6.43% p.a.

Reverse Mortgage Home Loan

Product Name Rate
(Variable)
Comparison Rate
Reverse Mortgage Home Loan 9.00% p.a. 9.01% p.a.

Equity Access

Product Name Rate
(Variable)
Comparison Rate
Equity Access 9.12% p.a. n/a

Bridging Loan

Product Name Rate
(Variable)
Comparison Rate
Bridging Home Loan 9.52% p.a. 9.53% p.a.

Variable Home Loan - Owner Occupied^

Product Name LVR Rate
(Variable)
Comparison Rate
Variable Home Loan - Owner Occupied < 95.00% 6.29% p.a. 6.30% p.a.

Owner occupied home loans - interest only

Smooth Home Loan

Product Name LVR Rate
(Variable)
Comparison Rate
Smooth Home Loan < 80.00% 8.12% p.a. 8.13% p.a.
Smooth Home Loan > 80.00% 8.22% p.a. 8.23% p.a.

Easypay Home Loan

Product Name Rate
(Variable)
Comparison Rate
Easypay Home Loan 8.37% p.a. 8.38% p.a.

Investment home loans

& Investor Basic Loan

Product Name LVR Rate
(Variable)
Comparison Rate
& Investor Basic Loan (P&I Repayments) < 70.00% 6.29% p.a. 6.30% p.a.
& Investor Basic Loan (P&I Repayments) > 70.00% 6.34% p.a. 6.35% p.a.
& Investor Basic Loan (IO Repayments) < 70.00% 6.59% p.a. 6.38% p.a.
& Investor Basic Loan (IO Repayments) > 70.00% 6.64% p.a. 6.43% p.a.

& Investor Loan

Product Name LVR Rate
(Variable)
Comparison Rate
& Investor Loan (P&I Repayments) < 90.00% 6.49% p.a. 6.50% p.a.
& Investor Loan (IO Repayments) < 90.00% 6.79% p.a. 6.58% p.a.

Fixed Rate Home Loan - Investor

Product Name LVR Term Rate
(Fixed)
Comparison Rate
Fixed Rate Home Loan < 80.00% 1 Year 6.59% p.a. 6.51% p.a.
Fixed Rate Home Loan > 80.00% 1 Year 6.79% p.a. 6.53% p.a.
Fixed Rate Home Loan < 80.00% 2 Year 6.39% p.a. 6.48% p.a.
Fixed Rate Home Loan > 80.00% 2 Year 6.59% p.a. 6.52% p.a.
Fixed Rate Home Loan < 80.00% 3 Year 6.49% p.a. 6.50% p.a.
Fixed Rate Home Loan > 80.00% 3 Year 6.59% p.a. 6.53% p.a.
Fixed Rate Home Loan < 80.00% 4 Year 6.54% p.a. 6.52% p.a.
Fixed Rate Home Loan > 80.00% 4 Year 6.74% p.a. 6.59% p.a.
Fixed Rate Home Loan < 80.00% 5 Year 6.69% p.a. 6.59% p.a.
Fixed Rate Home Loan > 80.00% 5 Year 6.89% p.a. 6.67% p.a.

Variable Home Loan - Investor^

Product Name LVR Rate
(Variable)
Comparison Rate
Variable Home Loan - Investor < 90.00% 6.49% p.a. 6.50% p.a.

Are you looking for the current interest rate for a home loan we no longer offer?

Products no longer available for sale

^Not available for sale. Fixed Rate Home Loans will automatically roll over to this product at the end of the fixed period.

Credit products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Lending criteria, terms & conditions, fees & charges apply. Rates subject to change.

Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. For variable Interest Only loans, comparison rates are based on an initial 3 year Interest Only period. For fixed Interest Only loans, comparison rates are based on an initial Interest Only period equal in length to the fixed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

The current rate applicable to your home loan product can be easily veiwed on your Internet Banking/Mobile App under 'Account Information' and if you are still not sure you can call on 13 25 77 Mon-Fri 8:00am - 6:00pm WST and Sat 9:00am - 5:00pm WST or visit your nearest Branch for more information.

Personal loans

Secured Personal Loan

Product Name Rate
(Fixed)
Comparison Rate
Fixed Secured Personal Loan 8.24% p.a. 8.90% p.a.

Unsecured Personal Loan

Product Name Rate
(Fixed)
Comparison Rate
Fixed Unsecured Personal Loan 9.99% p.a. 10.65% p.a.

Credit products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Lending criteria, terms & conditions, fees & charges apply. Rates subject to change.

Comparison rate calculated based on $30,000 over a term of 5 years on monthly repayments for secured and unsecured loans. Rates quoted may vary depending on loan purpose and security offered. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Credit cards

P&N Bank Visa Classic

Product Name Purchase Rate
(Variable)
Cash Advance Rate
(Variable)
Balance Transfer Rate
(Variable)
P&N Bank Visa Classic 11.99% p.a. 19.99% p.a. 11.99% p.a.

P&N Bank Visa Platinum

Product Name Purchase Rate
(Variable)
Cash Advance Rate
(Variable)
Balance Transfer Rate
(Variable)
P&N Bank Visa Platinum 11.99% p.a. 19.99% p.a. 11.99% p.a.

& Visa Platinum^

Product Name Purchase Rate
(Variable)
Cash Advance Rate
(Variable)
Balance Transfer Rate
(Variable)
& Visa Platinum 7.22% p.a. 19.99% p.a. 7.22% p.a.

^Available to members who have acquired an & Home Loan after October 2015

Personal loans - no longer available

Variable Rate Secured Personal Loan^

Product Name Rate
(Variable)
Comparison Rate
Secured Personal Loan 9.06% p.a. n/a

Variable Rate Unsecured Personal Loan^

Product Name Rate
(Variable)
Comparison Rate
Unsecured Personal Loan 13.32% p.a. n/a

^No longer available for sale

Credit products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Lending criteria, terms & conditions, fees & charges apply. Rates subject to change.

Comparison rate calculated based on $30,000 over a term of 5 years on monthly repayments for secured and unsecured loans. Rates quoted may vary depending on loan purpose and security offered. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Credit cards - no longer available

Simple Visa Credit Card#

Product Name Purchase Rate
(Variable)
Cash Advance Rate
(Variable)
Balance Transfer Rate
(Variable)
Simple Visa Credit Card 6.97% p.a. 19.99% p.a. 6.97% p.a.

Easypay Visa Credit Card#

Product Name Purchase Rate Cash Advance Rate Balance Transfer Rate
Easypay VISA Credit Card 11.99% p.a. 11.99% p.a. n/a

Easypay Plus VISA Credit Card#

Product Name Purchase Rate Cash Advance Rate Balance Transfer Rate
Easypay Plus VISA Credit Card 11.99% p.a. 11.99% p.a. n/a

Easypay Plus Platinum VISA Credit Card#

Product Name Purchase Rate Cash Advance Rate Balance Transfer Rate
Easypay Plus Platinum VISA Credit Card 11.99% p.a. 11.99% p.a. n/a

P&N Bank Platinum Visa#

Product Name Purchase Rate Cash Advance Rate Balance Transfer Rate
P&N Bank Platinum VISA Credit Card 11.99% p.a. 11.99% p.a. n/a

#No longer available for sale

Business lending

Business Lending products may have an Annual Percentage Rate that is comprised of a Reference Rate being the Bank Bill Swap Rate (BBSW) plus the margin rate as disclosed in your Loan Contract. Your Annual Percentage Rate can be viewed in Internet Banking.

Below is the BBSW 1 month mid rate as published by the Australian Stock Exchange on the first business day (NSW) of each calendar month:

Effective Date Reference Rate
1 March 2024 4.2995% p.a.
1 February 2024 4.2923% p.a.
2 January 2024 4.3050% p.a.
1 December 2023 4.2964% p.a.
1 November 2023 4.1800% p.a.
3 October 2023 4.0600% p.a.

If you are on a negotiated business lending rate, this can be viewed in Internet Banking.

Terms and definitions

We know that financial jargon can be confusing, so we’ve put together a breakdown of terms you might come across when looking at interest rates, to help you gain a better understanding.

Fixed interest rate

A fixed interest rate means that it will not change when either the Reserve Bank of Australia (RBA) change the official cash rate, or P&N Bank decide it appropriate to alter interest rates. A fixed rate can be beneficial due to the certainty it provides over loan repayments. For example, fixed home loan interest rates let you know exactly what your loan repayments will be over the period of the fixed rate loan, allowing you to budget precisely.

Variable interest rate

Variable interest rates may fluctuate with the official cash rate set by the RBA or where P&N Bank decide it appropriate to alter interest rates.. The benefit of variable rates is that your interest payments will become cheaper if the cash rate drops, however at the same time, if the cash rate rises, your interest payments may become more expensive.

Comparison rate

A comparison rate combines a loan’s interest rate with any standard fees and charges associated with the loan. The comparison rate is designed to give consumers a better idea of the true cost of the loan in comparison to other financial products on the market. Comparison rates can be a good starting point to weigh up different loan options, but it can be helpful to read the fine print to see what the comparison rate is calculated on.

Term deposits

A term deposit is a type of bank account where the balance is locked for a certain amount of time, decided by you. While you generally can’t access the money until the expiry date, you will receive a guaranteed interest rate, giving you certainty as to what your interest payments will be.

Secured personal loan

A secured personal loan means that you provide an asset such as a motor vehicle as collateral (security) against the amount you borrow. If you were unable the meet your loan repayments and default on the loan, the lender could sell that asset to recover the losses. The benefit of a secured personal loan is that they usually have lower interest rates compared to unsecured loans since there is less risk to the lender.

Unsecured personal loan

An unsecured personal loan means that you are not providing any asset as collateral against the amount you are borrowing. Because this increases the risk to the lender, interest rates for unsecured personal loans are typically higher than for secured personal loans.

Bonus interest

A bonus interest rate is a feature of certain bank accounts designed to incentivise you to save money. The bonus interest rate is combined with the account’s standard interest rate when you maintain or grow the balance each month, depending on the specific terms of the account you hold.

A bonus interest rate can help make it easier to reach your savings goals. For instance, if one of your financial goals is to save money to buy a new home, depositing money in a savings account with a bonus interest rate can help you reach it faster.

Australian Credit Licence

An Australian Credit Licence (ACL) is like a driver’s license for credit providers (banks, short term loan lenders etc.) Having an ACL authorises institutions and their representatives to engage in credit activities outlined in the license.

An Australian Credit Licence is issued at the discretion of the Australian Investments and Securities Commission (ASIC) when a credit provider demonstrates they have the necessary education and experience to provide credit products. A credit provider cannot legally operate without an ACL and failing to comply with the requirements of the license can prompt ASIC to cancel it.

P&N Bank’s Australian Credit License is 240701.

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