In this guide

  • Review
  • Details
    • Product details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

P&N Bank Smart Saver Account

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Summary

This savings account offers an ongoing bonus interest rate with minimal conditions to meet. 

The P&N Bank Smart Saver Account offers bonus interest each month you meet the account conditions. You can earn up to 4.45% p.a. by simply depositing $100 per month and making no withdrawals. 

The variable bonus rate is available on large balances up to $250,000. 

Pros

  • Ongoing bonus rate available each month
  • Small monthly deposit requirement of $100
  • Earn interest on large balances

Cons

  • To earn bonus interest you can’t make any withdrawals

In this guide

  • Review
  • Details
    • Product details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

Details

Product details

Product Name P&N Bank Smart Saver Account
Maximum Variable Rate 4.45% p.a.
Standard Variable Rate 0.50% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

Ongoing, variable interest rate up to 4.45% p.a.

You'll earn an ongoing, variable interest rate of up to 4.45% p.a. when you meet the following conditions:

  • Deposit $100 per month
  • Make no withdrawals

The variable bonus rate is available for balances up to $250,000.

Standard variable rate of 0.5% p.a.

If you don't meet the account conditions one month you'll earn the standard variable rate of 0.5% p.a. on your balance that month. You'll be eligible for the bonus rate the following month if you meet the conditions.

Balances above $250,000 will also earn the standard variable rate.

Open up to 3 accounts

You can open up to 3 Smart Saver accounts to help you separate your money and save for different goals. The bonus interest rate will be applied to your combined balance of up to $250,000.

Launch savings calculator


How to apply

Complete the online application to create a new account in minutes.

Eligibility

  • You need to be an Australian resident
  • You need to be at least 18 years old
  • You'll need at least 2 of the following forms of ID: Australian passport, driver's licence or Medicare card.

Compare other products from P&N Bank

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Alison Finder

Editorial Manager, Money

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