P&N Bank is an Australian financial institution comprised of the merger of 15 various credit unions. In 2013 they obtained regulator approval and became a mutual bank and are now able to provide you with the same products and security that the big banks can, including being a part of the Australian Government Guarantee of deposits up to $250,000.
As a mutual bank P&N is able to offer their members savings accounts that cover all of your financial plans. Not only will you find accounts that reward you for saving by paying out higher rates of interest, they also have accounts geared towards younger Australians. There are no monthly fees to concern yourself with, and free transactions when you choose to take advantage of electronic banking through their online platform.
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The term deposits offered by P&N provide you with flexible terms and payment options. Your savings of at least $5,000+ is locked into the account at a fixed interest rate for a term that you choose. Depending on how often you want to receive interest payments, which are deposited into a separate account or issued by cheque, you can choose terms starting at two months for up to five years.
Back to topThe way in which you apply for a savings account with P&N will depend heavily on the type you choose. While most can be applied for online, with others you will need to fill out an enquiry form first. Age restrictions will vary depending on the details of the account, but you do have to be at least 18 to fill out the forms online. You must also be an Australian resident and have an Australian residential and mailing address. Have ready your tax file number (TFN) or exemption code along with your government issued photo identification in order to help complete your application.
A variety of terms to choose from along with interest payment options make the P&N Bank Term Deposits worth a closer look.
Saving can be "way cool" when your child is being paid a competitive rate of interest while not being charged any fees.
Easily turn your standard earnings into higher ones with an account that has easy to meet terms for gaining bonus interest.
Watch how quickly your savings grow with an introductory bonus rate paid on every dollar in your account.