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Following the Reserve Bank of Australia’s (RBA) decision to decrease the official cash rate by 0.25% p.a., P&N Bank will be reducing the interest rates on all our variable home loans by 0.25% p.a. In addition, the interest rate on most of our savings products will also decrease by 0.25% p.a. However, we will maintain a competitive rate for our Savvy Saver product.

As a customer-owned bank, our focus is on providing value to our members. We are committed to offering competitive rates while ensuring our products meet the needs of our customers.

From 5 March 2025, all variable rate home loans will decrease by 0.25% p.a. Customers will receive further communication about the specific impact on their loans in the coming weeks.

If you have any concerns or need assistance with your repayments, please reach out to us to discuss the options available.

The details of upcoming changes to transaction and savings account interest rates are provided below.

We’re here to help

If you have any questions or need more information, please contact us via live chat on the P&N website, log in to internet banking to send us a secure message, call us on 13 25 77, or email us at info@pnbank.com.au (general enquiries only).

Transaction and savings interest rate changes March 2025

Effective from Saturday 1 March 2025, the following changes to our SwiftSaver Account interest rate will apply.

SwiftSaver Account Current rate New rate
Standard rate $0+ (no change) 0.05% p.a. 0.05% p.a.
Bonus rate up to $250,000 4.45% p.a. 4.20% p.a.

Effective from Wednesday 5 March 2025, the following changes to our savings account interest rates will apply.

Hi Saver Current rate New rate
Standard rate $0+ 0.50% p.a. 0.25% p.a.
Bonus rate $0+ (no change) 4.50% p.a. 4.50% p.a.
Business Saver Current rate New rate
Standard rate $0 - $4,999.99 (no change) 1.00% p.a. 1.00% p.a.
Standard rate $5,000+ 1.50% p.a. 1.25% p.a.
Way Cool Saver Current rate New rate
Under $5,000 3.05% p.a. 2.80% p.a.
$5,000+ (no change) 0.00% p.a. 0.00% p.a.

Effective from Wednesday 5 March 2025, the following changes to our transaction account interest rates will apply.

& Retirement Account Current rate New rate
Standard rate $0+ 1.80% p.a. 1.55% p.a.

Effective from Wednesday 5 March 2025, the following interest rate changes will apply.

Cash Saver Account Current rate New rate
Under $5,000 (no change) 0.00% p.a. 0.00% p.a.
$5,000+ 0.50% p.a. 0.25% p.a.
Easypay Access Account Current rate New rate
Under $100,000 0.01% p.a. 0.00% p.a.
$100,000+ 0.05% p.a. 0.00% p.a.
Easypay Plus Access Account Current rate New rate
Under $100,000 0.01% p.a. 0.00% p.a.
$100,000+ 0.05% p.a. 0.00% p.a.
Easy Living Savings Account Current rate New rate
Under $100,000 0.01% p.a. 0.00% p.a.
$100,000+ 0.05% p.a. 0.00% p.a.