P&N Bank Essential Services Offer

P&N Bank is proud to have a rich heritage with essential workers thanks to our policing and nursing roots. Over the years, we've become stronger through several mergers, including in 1990 when we became Police & Nurses Credit Society, which then evolved into the P&N Bank we know today.

The Essential Services Offers include:

1. $1,500 Home Loan Cashback and 100% offset facility on eligible home loans.
2. A waiver on Lenders Mortgage Insurance (LMI).

In order to qualify for the Home Loan Offers, members must meet the following criteria and terms and conditions:

• Currently employed within the ‘Essential Services Group for P&N Bank’ within WA. The eligible professions include:
  • State or Federal Police
  • Police staff, including auxiliary officers and any WA Police employee
  • Nurses (clinical, registered, and travel)
  • Doctors
  • Firefighters (salaried non volunteer)
  • Paramedics
  • Ambulance Emergency Medical Dispatchers
  • Prison Officers only
  • Teachers (primary, secondary, & specialist e.g., language) and University lecturers
• Borrower(s) must be 18 years and over.

1. $1,500 Home Loan Cashback on eligible home loans

1.1. Home loan applications must not be for refinances of existing P&N Bank loans (including BCU Bank loans).

1.2. The amount of the home loan must be at least $250,000 and can include a combination of variable and fixed rate home loans where the combined balance is at least $250,000.

1.3. The Loan to Valuation Ratio (LVR) of the home loan must be 80% or less.

1.4. Home loans can be originated from either proprietary or broker channels.

1.5. For joint applicants, only one Home Loan Cashback payment will be paid.

1.6. The Home Loan Cashback payment cannot be used in conjunction with any other home loan rebate offer currently being made by P&N Bank.

1.7. The Home Loan Cashback payment cannot be used in conjunction with any other home loan rebate offer currently being made by P&N Bank.

1.8. The Home Loan Cashback payment will not be considered in assessing home loan serviceability.

1.9. Payment of the Home Loan Cashback and will be paid into your P&N Bank transaction account (held either solely or jointly with a co-borrower) by the end of the following month post the drawdown of the loan(s). For example, if the loan is drawn down in February, the Home Loan Cashback payment will be credited to your account by 31 March. If you do not have a P&N Bank transaction account, you will be required to open one to receive the Home Loan Cashback payment.

1.10. For loans in joint names, the transaction account needs to be in the name of at least one of the customers and the Home Loan Cashback payment will be paid only once for each home loan. Where a home loan has more than one borrower and one member receives the Home Loan Cashback, all members are deemed to have received the Home Loan Cashback payment.

1.11. Tax consequences may arise from the Home Loan Cashback payment, and Members may need to seek independent advice on any taxation matters.

1.12. The terms of the Home Loan Cashback payment can be amended and/or withdrawn by P&N Bank without notice. However, we will only do so where reasonably necessary to protect our legitimate business interests. Any amendment or withdrawal will not affect prior received loan applications, unless necessary to:

a)    comply with any change or anticipated change to any relevant law, code of practice, regulatory guidance or general banking practice;

b)    reflect a decision of a court, ombudsman or regulator;

c)    reflect a change in our systems or procedures, including for security reasons; or

d)    respond to changes in the cost of providing home loans.

1.13. Full home loan terms and conditions can be found on our website, at any P&N Bank branch, or can be requested by calling 13 25 77.

2. A waiver on Lenders Mortgage Insurance (LMI)

2.1. Home loans must originate from proprietary channels only, this is through the P&N Bank website, contact centre, webchat, a home lender, or in branch. Broker referred loans will not qualify.

2.2. The amount of the home loan must be at least $250,000 and can include a combination of variable and fixed rate home loans where the combined balance is at least $250,000.

2.3. Home loans must be principal and interest and for owner-occupied purposes.

2.4. Purchases can include government fees and charges, external refinances cannot include additional loan purposes outside of including current redraw.

2.5. The Loan to Valuation Ratio (LVR) of the home loan must be 90% or less with LMI waiver to apply where LVR is between 80 to 90%.

2.6. Property must be in Perth metro, Bunbury, Busselton, Albany, or Geraldton area.

2.7. Only available to applicants who have completed probation periods attached to their emergency services employment.

2.8. Standard P&N Bank lending criteria, interest rates, fees and terms and conditions apply. Full home loan terms and conditions can be found on our website,, at any P&N Bank branch or can be requested by calling 13 25 77.

Banking and Credit Products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. All information is general in nature and does not consider your personal needs, objectives, or financial situation. Lending criteria, home loan terms and conditions, as well as fees and charges apply.