Competitive
Lock in a great term deposit rate, and know exactly how much interest you’ll earn.
On your terms
Pick a term that suits you – from two months to five years.
No monthly fees
With no fees, every dollar in your term deposit will help your savings grow.
Peace of mind
Total deposits up to $250k are protected by the Financial Claims Scheme.
Choose the right term deposit for you
Money Maker Term Deposit
Interest paid at maturity for terms between 2 and 12 months.
- Minimum amount of $5,000
- Maximum amount of $1 million
- Interest paid at maturity
- Interest paid monthly, quarterly, or annually
Regular Income Term Deposit
Interest paid monthly, quarterly or annually on terms between 12 and 60 months.
- Minimum amount of $5,000
- Maximum amount of $1 million
- Interest paid at maturity
- Interest paid monthly, quarterly, or annually
Grow your hard-earned savings, easily
- Enjoy highly competitive, guaranteed fixed term rates.
- Choose a term between 2—12 months with your interest paid on maturity.
- Receive more regular interest payments (monthly, quarterly or annually) on terms between 12 - 60 months.
- Rest easy knowing total deposits up to $250,000 are protected by the Financial Claims Scheme.
Our term deposits are award-winning
We’re proud to announce that P&N Bank has been recognised in the 2024 Money Magazine Best of the Best Awards. And we've been awarded the 'Best Value Long Term Deposit 2024'.
Check out our trophy case
Interest rates
With our fixed term deposits, you can get your interest paid at maturity with our Money Maker, or you can receive it monthly, quarterly, or annually instead with our Regular Income term deposit. The choice is yours!
Money Maker Term Deposit
You can choose a fixed term between 2 and 12 months and then when your term is up, your interest is either added to your term deposit paid to your savings. Ka-ching!
| Term | Interest paid | Interest rate |
|---|---|---|
| 2 months | At maturity | 1.75% p.a. |
| 3 months | At maturity | 4.85% p.a. |
| 4 months | At maturity | 4.90% p.a. |
| 5 months | At maturity | 4.00% p.a. |
| 6 months | At maturity | 4.90% p.a. |
| 7 months | At maturity | 4.00% p.a. |
| 8 months | At maturity | 4.00% p.a. |
| 9 months | At maturity | 4.90% p.a. |
| 10 months | At maturity | 3.80% p.a. |
| 11 months | At maturity | 3.80% p.a. |
| 12 months | At maturity | 4.70% p.a. |
Regular Income Term Deposit
You have the option of a regular income over a fixed term of 12 to 60 months. Opt for monthly, quarterly or annual interest that you can either leave in your term deposit to compound (so you’re earning interest on your interest), or withdraw.
| Term | Interest paid | Interest rate |
|---|---|---|
| 12 - 35 months | Monthly | 3.80% p.a. |
| 12 - 35 months | Quarterly | 3.80% p.a. |
| 12 - 35 months | Annually | 3.80% p.a. |
| 36 - 60 months | Monthly | 3.70% p.a. |
| 36 - 60 months | Quarterly | 3.70% p.a. |
| 36 - 60 months | Annually | 3.70% p.a. |
3 month & Retirement Term Deposit
Enjoy a fixed interest rate that’s better than the standard 3-month P&N Term Deposit rate. Available only to people 55 years of age or older.
| Term | Interest rate | Interest credited |
|---|---|---|
| 3 months | 4.90% p.a. | At maturity |
Don't forget - if you'd like your interest paid to another account, just let us know before your term deposit rolls over!
How much interest could you earn?
See how your pot of gold could grow with the help of our simple-to-use calculator. No rainbow required!
Savings and term deposit calculator
More calculators
Existing customers
If you’re opening a Money Maker Term Deposit account for yourself, simply log in to internet banking or the mobile app and go to ‘Apply’ or ‘Open account’. To open a Regular Income Term Deposit, you can call or message us and one of our friendly team will be happy to assist.
New customers
Open your account online
You can open a Money Maker term deposit online. First, you’ll need to set up a transaction or savings account to receive your funds, which is quick and easy. You’ll need to be an Australian resident and at least 18 years of age.
Open an account online View all everyday accountsOnce your funds are in your account, you can open a Money Maker Term Deposit using internet banking or the mobile app.
Open your account in person at a branch
Open any term deposit account by visiting your nearest branch. We have branches across Perth and south to Bunbury.
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. If you earn more interest than the limit set by the ATO, you need to pay tax. 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
If you’re opening a Money Maker Term Deposit account for yourself, simply log in to internet banking or the mobile app and go to ‘Apply’ or ‘Open account’. To open a Regular Income Term Deposit, you can call or message us and one of our friendly team will be happy to assist.
New customers
Open your account online
You can open a Money Maker term deposit online. First, you’ll need to set up a transaction or savings account to receive your funds, which is quick and easy. You’ll need to be an Australian resident and at least 18 years of age.
Open an account online View all everyday accountsOnce your funds are in your account, you can open a Money Maker Term Deposit using internet banking or the mobile app.
Open your account in person at a branch
Open any term deposit account by visiting your nearest branch. We have branches across Perth and south to Bunbury.
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. If you earn more interest than the limit set by the ATO, you need to pay tax. 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
We're here to help
Talk to us
Whether you’d prefer to chat to us over the phone, in person, or online, you can get in touch.
Get answers online
We’ve got heaps of info and answers to your questions in our comprehensive help centre.
Your term deposit questions answered
At the time of opening your term deposit account, you set instructions for what you want us to do with your deposit and interest when it matures.
When your term deposit is due to mature you can explore your options to:
- add some funds to your term deposit,
- transfer funds to another nominated account,
- renew your term deposit for a new term,
- change your interest payment instructions, or
- a combination of these options.
You can also choose to leave your money - and the interest you've earned - in the same term deposit (it’s what we call a rollover).
Your instructions can be provided any time up to your term deposit maturity date, or within the seven-day grace period following the account maturity.
View the Term Deposit Account Terms & Conditions for more information about rollovers.
Savings accounts offer you the freedom to add to your savings when it suits you and access your money when you need it.
Interest rates on savings accounts are variable and can change at any time and some accounts will pay bonus interest too.
On the flip side, a term deposit offers you a fixed rate of interest for a set period of time (the term) - a sure-fire way to watch your savings grow! You usually can't add further money to the account during the term and by locking your money away you'll know exactly how much you'll have at the end of your term.
P&N Bank, a division of Police & Nurses Limited is an authorised deposit-taking institution (ADI) and regulated to the same high standards as the major banks by such government agencies as APRA, ASIC, AUSTRAC and the ACCC.
The Financial Claims Scheme (FCS) is an Australian government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.
Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other ADI that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).
Find out when the FCS would come into effect
More information on the Financial Claims Scheme is available on the FCS website.
If you already have a transaction or savings account with us you can log in to internet banking or the mobile app and open up a Money Maker Term Deposit account online in a matter of minutes.
To open a Regular Income Term Deposit, you can contact us via secure mail, call 13 25 77 or visit your nearest branch.
New customer?
If you’re new to P&N, you can easily open a transaction or savings account online to receive your funds, which is quick and easy. Once your funds have landed in your account, you can open a term deposit using internet banking or the mobile app.
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.
Please consider the terms and conditions and whether a product is right for you.
We calculate interest daily by multiplying the balance of your deposit by the fixed interest rate. Interest can be added to the principal amount, or you can request for it to be credited to your nominated bank account.
For amounts under $5,000 please refer to the Hi Saver Account, Savvy Saver Account or SwiftSaver Account.