It's time to save the savvy way
The Savvy Saver helps grow your savings – without the usual restrictions. If you need to dip into your savings, you'll still earn interest. *And to earn bonus interest, simply deposit $500 or more into your eligible & Transaction Account each month and make at least five card purchases using your linked account.
Do that, and watch your savings grow. Easy!
How to earn bonus interest
Open your accounts
You’ll need a Savvy Saver and a P&N Bank & Transaction Account (in your name only). 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.
Ready to start saving the savvy way?
New customer
If you’re not already banking with us, getting started is quick and easy. You can open both the Savvy Saver and & Transaction Account online, all in one go.
Existing customer
If you already have an & Transaction Account, you can open a Savvy Saver through internet banking or the mobile app. Need an & Transaction Account? You can open one in the same way.
Interest rates & fees
A competitive interest rate up for grabs and no fees on popular transactions. What more could you want?
Interest rates
| Rate type | Tier | Variable rate |
|---|---|---|
| Standard rate | $0 + | 0.55% p.a. |
| Bonus rate | Under $100,000 | 4.55% p.a. |
| Total maximum rate (standard + bonus) | Under $100,000 | 5.10% p.a. |
Fees & charges
Our Savvy Saver has no monthly or standard transaction fees.
Other fees and charges that may apply can be found on our account fees and charges page.
We're here to help
Open an account
You can open a Savvy Saver 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.
No silly questions – just savvy ones
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.
P&N Bank is a 'customer owned' bank which means our customers and our owners are one and the same.
So there’s no natural conflict with shareholders like at the listed banks.
Our customers own our bank, and that’s a good thing. It means any profits we make are used to improve our services, and provide benefits to our customers and the broader WA community.
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 transactions 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.