Hi Saver Account
Maintain a balance of $5,000 or more in your Hi Saver Account, and earn bonus interest for the first 4 months on top of the variable standard rate. Apply here.
A P&N Bank term deposit offers you a guaranteed rate of return and a high level of security so you have more control over your investment.
- Be in control - with a range of terms at competitive rates.
- Feel confident - with the security of a fixed rate for a fixed term.
- Flexible interest payment options - choose from interest paid at maturity (Money Maker), OR paid monthly, quarterly or annually (Regular Income).
- Term Deposit Calculator - to help you work out your investment returns.
Money Maker
| Term | $5,000 - $1,000,000 | Interest Paid |
|---|---|---|
| 2 months | 0.70% p.a. | At maturity |
| 3 months | 1.15% p.a. | At maturity |
| 4 months | 1.00% p.a. | At maturity |
| 5 months | 1.00% p.a. | At maturity |
| 6 months | 1.05% p.a. | At maturity |
| 7 months | 1.00% p.a. | At maturity |
| 8 months | 1.05% p.a. | At maturity |
| 9 months | 1.00% p.a. | At maturity |
| 10 months | 1.05% p.a. | At maturity |
| 11 months | 1.05% p.a. | At maturity |
A Money Maker Term Deposit is a safe, secure term deposit of 2 - 11 months for amounts of $5,000 and above that pays interest at maturity.
Regular Income
| Term | $5,000 - $1,000,000 | Interest Paid |
|---|---|---|
| 12-35 months | 0.90% p.a. | Monthly |
| 12-35 months | 0.95% p.a. | Quarterly |
| 12-35 months | 1.05% p.a. | Annually |
| 36-60 months | 0.95% p.a. | Monthly |
| 36-60 months | 1.00% p.a. | Quarterly |
| 36-60 months | 1.10% p.a. | Annually |
With a Regular Income Term Deposit enjoy a regular return on deposits of $5,000 and above with interest paid monthly, quarterly or annually. Investments can be made for between 12 to 60 months.
Want to build a retirement nest egg?
Already retired? Or planning to make the transition soon? With our Retirement Rewards & Bag you can mix and match a range of products including our best rate 3 month term deposit.
Not sure how long to invest for? Find out more about the benefits of our popular 3 month and 6 month fixed term deposits and the security of a longer term deposit.
Frequently asked questions
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How much money do I need to open a term deposit?
The minimum amount required to open a term deposit account with P&N Bank is $5,000, and the shortest term available is two months.
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What's the difference between a term deposit and a savings account?
With a savings account, you can add to and withdraw from it as you please. There can be some restrictions around the interest payable if you make withdrawals, however you can access the money in the account whenever it suits you. Interest rates on these accounts are generally variable and subject to change at any time.
With term deposits, an amount of your choosing (usually a minimum amount of $5,000) is locked away for a set period of time at a fixed interest rate. These rates can often be higher than a standard savings account, however the money cannot be accessed until the fixed term is over. If you choose to break the term to access the funds early, the interest payments will often be forfeited.
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How do I set up a term deposit?
You can open a term deposit online, over the phone or in person, provided you have the minimum required amount of $5,000 in an existing account.
Please see how to apply for more information.
See all frequently asked questions