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Maximum variable rate: 4.65% p.a.
Base interest rate: 0.20% p.a.
Minimum deposit: $500

Summary

Earn an ongoing bonus interest rate of up to 4.65% p.a. on balances up to $100,000.

The P&N Bank Savvy Saver account offers a total variable bonus interest rate of 4.65% p.a. when you deposit $500 a month, and make at least 5 card purchases from your linked & Transaction Account each month. You can earn the bonus interest rate on balances up to $100,000.

Pros

Strong ongoing variable bonus rate when conditions are met
Make withdrawals and still earn interest
No requirement to grow your balance

Cons

Bonus rate is lower than some others in the market

Details

Product details

Product Name	P&N Bank Savvy Saver
Maximum Variable Rate	4.65% p.a.
Standard Variable Rate	0.20% p.a.
Monthly Account Fee	$0
Minimum Age	18

Key features

Ongoing variable rate of up to 4.65% p.a.

This account offers a total, ongoing variable rate of up to 4.65% p.a. on balances up to $100,000 when the account conditions are met (outlined below). This is made up of a standard variable rate of 0.2% p.a. and a bonus variable rate of 4.45% p.a.

Conditions for bonus interest

To earn the full bonus rate you must deposit $500 a month from an external account, and make at least 5 card purchases from your linked P&N Bank & Transaction Account each month. If you don't meet the account criteria one month you'll earn the standard variable rate for that month.

You can make withdrawals.

As long as you deposit $500 a month and make 5+ card transactions a month, you can make withdrawals from your savings and still earn bonus interest. There is no requirement that your account balance needs to grow each month.

Link to a P&N Bank & Transaction Account

You will get both a P&N Bank Savvy Saver and & Transaction Account when you open this account. These two accounts are linked, allowing you to easily transfer money from your transaction account into your savings.

The & Transaction Account has no monthly or ongoing fees, and comes with a Visa Debit card to access your money.

Savings round up tool.

You can enable Pay&Save, which is P&N Bank's savings round up tool that rounds up your purchases from your & Transaction Account to the nearest dollar amount and adds it into your savings. It's a way to help you save automatically on your day-to-day spending.

No ongoing account fees.

There are no monthly or ongoing account fees with the P&N Bank Savvy Saver or & Transaction Account

Government guarantee.

Your deposit up to $250,000 in a P&N Bank account is covered by the Australian Government's Financial Claims Scheme. Note this is up to $250,000 per account holder, not per account, so it's a combined total across all your P&N Bank accounts.

Launch savings calculator

How to apply

Eligibility

Check first to make sure that you are able to meet the eligibility requirements:

Age. You need to be aged 18 years or older
Address. You must have a valid Australian residential address

Tax status. You must not be a foreign tax resident.

Documentation needed

Identification. You will need at least 1 form of identification, this could include an Australian driver's license or Australian passport.
Personal information. You're going to be asked for your full name, date of birth, and physical Australian address.
Tax File Number (TFN). While providing your TFN is optional, it will help you ensure you're not being taxed at the maximum marginal tax rate.

P&N Bank scored in the Finder Awards

The P&N Bank Savvy Saver was highly commended for Best Bonus Savings Account in the 2026 Finder Awards.

Full list of 2026 winners

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. P&N Bank Savvy Saver account information page
2. P&N Bank Savvy Saver account TMD

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Alison Finder

Editorial Manager, Money

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

P&N Bank Savvy Saver account

Pros

Cons

Key features

Ongoing variable rate of up to 4.65% p.a.

Conditions for bonus interest

You can make withdrawals.

Link to a P&N Bank & Transaction Account

Savings round up tool.

No ongoing account fees.

Government guarantee.

How to apply

Eligibility

Documentation needed

P&N Bank scored in the Finder Awards

Sources

Sources

Your reviews

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