Transfer freely
No need to lock your savings away. Move your money in and out and still earn interest.
No minimum balance
Whether you have a little or a lot, open an account and get saving.
It's time to save the savvy way
The Savvy Saver is here to help you reach your money goals. Simply add at least $500 into an eligible & Transaction Account each month, then make five or more card purchases using your linked account, and you’ll see your savings level up.
Even the savviest of savers need to access their funds, and with the Savvy Saver you can do that too. Plus, if you do dip into your savings, you won’t lose your bonus interest – as long as you’ve met the eligibility criteria.
The simple way to boost your savings
- Earn a great variable rate each month when you meet the criteria. All you need to do is put at least $500 from an external bank account into an eligible & Transaction Account, then make five or more card purchases using your linked & Transaction Account.
- 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.
How to earn bonus interest
Open your accounts
You’ll need a Savvy Saver and a P&N Bank & Transaction Account. It’s easy – you can open both accounts online.
Put at least $500 into your & Transaction Account each month
Get your salary paid in, or make a monthly transfer from an external bank account or a P&N one that’s not in your name. The choice is yours!
Make five purchases
Each month, make five or more card purchases (plastic or digital) using your linked & Transaction Account.
Rates & fees
Introducing our Savvy Saver – where saving while spending has never been so easy.
Interest rates
| Rate type | Tier | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|---|
| Standard rate | $0 + | 0.55% p.a. | Daily | End of month |
| Bonus rate | Under $100,000 | 4.55% p.a. | Daily | End of month |
| Total maximum rate (standard + bonus) | 5.10% 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 your Savvy Saver Account online in minutes
Existing customers
Already bank with P&N? Great choice - simply login to internet banking or go to the mobile app to open your new account.
Don’t forget – you’ll need to have an active & Transaction Account with a linked Visa Debit card before you can open a Savvy Saver account. If you don’t already have an & Transaction Account, you can open this first using internet banking or the mobile app.
New customers
If you’re over 18 years of age, you can open your account online in minutes. You’ll become a customer and enjoy all of the benefits of banking with P&N.
When opening your Savvy Saver bundle online – which includes both a Savvy Saver and an & Transaction Account – make sure you select ‘Yes’ to order a new Visa Debit card!
Open your account in a branch
We're happy to meet you if you choose to open your account at your nearest branch.
New customers
If you're a new customer you’ll need to be at least 18 years old and have a current Australian drivers licence or passport to open your account online.
You will also need to be:
- an individual (not a business or association)
- an Australian resident with a current Australian residential address.
Handy hint: Have your tax file number ready. It’s not compulsory to provide it, but if you earn more interest than the limit set by the ATO, withholding tax may be deducted from any interest paid into your account. To avoid this, provide your tax file number when applying.
Open your account in a branch
If you don’t already bank with us, you’ll need to bring your Australian driver's licence or a valid Australian passport for ID.
A list of alternative identification documents is available for anyone who:
- is under 18 years of age
- is a non-resident
- doesn't have an Australian photo identity document
Existing customers
Already bank with P&N? Great choice - simply login to internet banking or go to the mobile app to open your new account.
Don’t forget – you’ll need to have an active & Transaction Account with a linked Visa Debit card before you can open a Savvy Saver account. If you don’t already have an & Transaction Account, you can open this first using internet banking or the mobile app.
New customers
If you’re over 18 years of age, you can open your account online in minutes. You’ll become a customer and enjoy all of the benefits of banking with P&N.
When opening your Savvy Saver bundle online – which includes both a Savvy Saver and an & Transaction Account – make sure you select ‘Yes’ to order a new Visa Debit card!
Open your account in a branch
We're happy to meet you if you choose to open your account at your nearest branch.
New customers
If you're a new customer you’ll need to be at least 18 years old and have a current Australian drivers licence or passport to open your account online.
You will also need to be:
- an individual (not a business or association)
- an Australian resident with a current Australian residential address.
Handy hint: Have your tax file number ready. It’s not compulsory to provide it, but if you earn more interest than the limit set by the ATO, withholding tax may be deducted from any interest paid into your account. To avoid this, provide your tax file number when applying.
Open your account in a branch
If you don’t already bank with us, you’ll need to bring your Australian driver's licence or a valid Australian passport for ID.
A list of alternative identification documents is available for anyone who:
- is under 18 years of age
- is a non-resident
- doesn't have an Australian photo identity document
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.
We're here to help
Open an account
You can do it online, and you'll have access to your account in a matter of minutes.
Get answers online
We’ve got heaps of info and answers to your questions in our comprehensive help centre.
There's no such thing as a silly question
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.
To earn bonus interest on your Savvy Saver, you need to receive at least $500 into an eligible & Transaction Account and make five or more card purchases each month.
The minimum monthly deposit of $500 must come from an external account or a P&N Bank account that’s not in your name. This means you could transfer funds from another bank each month, or have your employer directly deposit your salary into your & Transaction Account.
Cash and cheque deposits, or payments received via telegraphic transfer, are not included.
Tip! Getting your salary paid directly to your & Transaction Account is the easiest way to meet the monthly deposit requirement.
Eligible transactions include payments made using Visa payWave, your physical Visa Debit card, a digital wallet, or online using your Visa Debit card details. Keep in mind that these transactions must be fully processed by the end of the month – any transactions that are still pending will not count toward your five purchases.
All eligible transactions must be made using your Visa Debit card linked to your & Transaction Account. Cash withdrawals, balance enquiries, and transfers between your own accounts are not included.
If you open an account online, linking your & Transaction Account to your Savvy Saver may take up to five business days. Any transactions made between opening the accounts and the accounts being linked will not count towards the five purchases needed to qualify for bonus interest.
Our Savvy Saver Account can be linked to an & Transaction Account held in your name as a single account holder only. You cannot link to an & Transaction Account held in joint names.
Please visit a branch or contact us on 13 25 77 if you would like to open an & Transaction Account in your name.
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.
Bonus interest is payable on the last day of the calendar month on balances up to $100,000 when the following conditions are met during the month:
- at least $500 from an external source is deposited into your & Transaction Account(s); and
- you make at least 5 Visa card transaction from a linked & Transaction Account.
If the conditions are not met, or the account balance exceeds $100,000, the standard interest rate will apply.
You may hold a maximum of one Savvy Saver as a single account owner.
If you hold more than one & Transaction Account, we will link your Savvy Saver to the most suitable account. You may contact us to change your linked & Transaction Account. Your Savvy Saver Account can be linked to an & Transaction Account held in your name as a single account holder only. You cannot link to an & Transaction Account held in joint names.
BPAY® is registered to BPAY Pty Ltd ABN 69 079 137 518.