Why choose a Hi Saver Account?
Introductory rate
Earn a higher introductory rate for the first four months from the date you open your account.
Transfer freely
Even when you move money in and out of your savings, you’ll still earn interest.
No monthly fees
Monthly fees? Not on our watch. Keep your savings where they belong - in your account.
Save as you spend
Link your & Transaction Account and save on autopilot with Pay&Save.
Sit back and watch your savings grow
- Earn introductory interest on your savings for the first four months from the date you open the account, even if you make withdrawals.
- No minimum balance or opening amount required.
- Transfer or make payments using our mobile app or internet banking. Payments made with PayID or using Osko are received in near real-time.
- Rest easy knowing total deposits up to $250,000 are protected by the Financial Claims Scheme.
Earning introductory interest? Couldn't be easier.
Open a Hi Saver account
Open a new Hi Saver account and transfer your savings in. It's super easy, too – you can open your account online!
Earn introductory interest for the first four months
This part will happen automatically, so you can put your feet up and watch the magic happen.
Watch your savings grow
Your money will grow without you needing to lift a finger (unless you want to transfer some more money in to boost your savings even further).
Pay&Save is like saving on autopilot
You can automatically round up every purchase you make with your & Transaction Account to the nearest $1, $5 or $10. It’s your choice. Pay&Save then sweeps the difference into your savings account when you pay for something.
Coffee. Fuel. Cake. Don’t forget the cake. All those rounded-up purchases will soon add up with Pay&Save – so you get extra Ker-chang with your Ka-ching!
What are you waiting for?
It's easy – open a savings account alongside your & Transaction account and link them together in the app. Ka-ching!
Discover Pay&Save
Rates & fees
Four months to grow your savings with introductory interest? It’s a no-brainer.
Interest rates
| Rate type | Interest rate | Interest calculated | Interest credited |
|---|---|---|---|
| Standard rate | 0.05% p.a. |
Daily
|
End of month |
| Introductory rate | 4.20% p.a. | Daily | End of month |
| Total maximum rate (standard + introductory) | 4.25% p.a. | Daily | End of month |
| The basics | |
|---|---|
| Monthly fee | $0 |
| Minimum monthly balance | No |
| Everyday transactions | |
|---|---|
| Internet banking & mobile app transfer | Free |
| BPAY® transaction | Free |
| Direct debits and direct credits | Free |
Other fees and charges may apply. For more information, please read the full list of account fees and charges.
Open a savings account online in minutes
To open an account online, you'll need to be:
New customer
You can open a Hi Saver online in just a few minutes – no queues, no paperwork, just a few clicks and you're good to go.
Existing customer
It's quick and easy to open a new account anytime using internet banking or the mobile app.
Already bank with us?
You can open a new account through the mobile app or internet banking – no additional ID required.
Open an account online
To open an account online, you’ll need to:
- Be at least 18 years old
- Live in Australia with a current residential address
- Be applying as an individual (not a business or association)
- Have two forms of ID from the following:
- Western Australian driver’s licence
- Australian passport
- Green Medicare card
We also recommend having your tax file number (TFN) ready. If you earn more interest than the limit set by the ATO and you haven’t provided us with your TFN, withholding tax may be deducted from the interest you earn.
If you don’t meet the eligibility requirements to open an account online, you can still open an account at one of our branches.
Open an account in a branch
If you’d rather see a friendly face in person, or don’t meet the eligibility requirements to open an account online, drop into one of our branches. Make sure you bring the required documents with you so we can set up your account.
Budget like a boss with mymo
mymo is your personal banking buddy. It’s an app you can use with your P&N Bank accounts to help you budget like a boss.
Link up all your bank accounts to see all your income and expenses at a glance, track your spending, and set up bill reminders. Budget smarter, save more, and waste less.
Got a question about savings accounts?
If you’re new to P&N Bank you can easily open an account online in a matter of minutes.
You’ll need to:
- be at least 18 years old
- have a current Australian driver’s licence or Australian passport document
- have access to your mobile phone with a camera
You can open most of our everyday and savings accounts online, and from there you'll also be able to open a term deposit from internet banking or the mobile app.
If you already bank with us – great choice! You can open most deposit accounts in your name online by going to ‘Apply’ in internet banking or ‘Open account’ in the mobile app.
You can hold one Hi Saver Account in your name and one in joint names.
If you choose to close your account, you’ll be eligible to open another Hi Saver Account in 12 months time, giving you another opportunity to earn that rewarding bonus interest.
When the introductory interest term of your Hi Saver Account ends, you will continue to earn the standard variable rate.
You can open a new savings account online at any time in internet banking or the mobile app.
We understand that sometimes seeing a friendly face and doing your banking in person can be nice. And we welcome you at our branches located throughout the Perth metropolitan area from Ocean Keys to Mandurah, and down south in Bunbury.
Use our Branch Locator to find your nearest P&N Bank branch.
Remember, there are a wide range of actions you can undertake in the mobile app or internet banking for your convenience.
Please contact us on 13 25 77 if you'd like to speak to a team member.
We're here to help
Get answers online
Got a question? Our help centre is the ideal place to start.
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.
Read the relevant product terms and conditions before deciding if a product is right for you.
*The Hi Saver introductory interest rate applies for the first four months on daily closing balances from account opening date. At the end of the introductory period the standard ongoing variable interest rate 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 introductory rate for the first four months from the date of opening your account. If your Hi Saver account was opened before 1 April 2023 introductory interest will be paid on the total balance of your Hi Saver Account on each day on which the closing balance of your account is $5,000 or greater, for a period of four months from the date of opening your account.
A member may hold a maximum of one Hi Saver account as a single account owner and one Hi Saver account as a joint account owner. 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.
BPAY® is registered to BPAY Pty Ltd ABN 69 079 137 518.