Members of the Australian police force and their families can build a better financial future with Police Bank.
The roots of Police Bank go back to 1964, when it was formed in one small Sydney police station to help enable police to easier access financial products. The first loan provided was for a mere 100 pounds, were today they are able to provide loans in the six figures as well as a full range of savings and transaction account products.
Who is Police Bank?
Police Bank takes all of your savings needs into consideration, offering a range of products designed both for passive savers and serious investors. With incentives like bonus interest and years shaved off of your home loan, you have the opportunity to secure a prosperous financial future.
The high interest savings accounts offered by Police Bank are all accessible through their comprehensive online banking system. This free service can be easily obtained by contacting Police Bank at their assistance center. Once registered you have the freedom to make your banking transactions anytime you want from anywhere in the world. Internet banking with Police Bank is almost as if you are visiting a branch. You can conduct almost all of the same transactions electronically as well as access features that will help make managing your finances easier.
What is internet banking like for Police Bank?
Notable features include:
The high interest savings accounts offered by Police Bank are all accessible through their comprehensive online banking system. This free service can be easily obtained by contacting Police Bank at their assistance center. Once registered you have the freedom to make your banking transactions anytime you want from anywhere in the world.
Internet banking with Police Bank is almost as if you are visiting a branch. You can conduct almost all of the same transactions electronically as well as access features that will help make managing your finances easier.
What about the mobile app?Image Source: App Store
What transaction accounts are offered by Police Bank?
- Easy access. This is a simple to manage everyday account that takes care of all of your banking needs. Your balance will earn daily interest, but is still available at call through a number of methods including internet banking and Visa debit card.
What high interest savings accounts are offered by Police Bank?
- Savings Plus. With a tiered interest rate that pays you more for higher balances the Savings Plus account gives you good incentive to save.
- Retirement Plus. Pensioners and retirees provides a flat rate of interest at a competitive rate to help keep your retirement savings growing.
- Bonus Saver. For each month that you meet the minimum deposit requirement without making any withdrawals you will receive a bonus interest rate on top of the standard rate.
- Dynamo. This kid’s savings account pays bonus interest when $5 is deposited into the account each week. This account is available for any member under the age of 12, with accessibility limited to transfers to another account.
What term deposits are offered by Police Bank?
You are given a number of options when you choose to lock your money away in a Police Bank term deposit. The minimum deposit is $1,000 and you can decide on terms that range from three months to five years. You can even opt for monthly interest payments, bi-annual or at maturity. There are no fees required to maintain the account, but you will need a nominated account to receive interest payments in.
What are the pros and cons of banking with Police Bank?
- Bonus rates. You are given a number of ways to accelerate your savings with bonus interest paid on your deposits.
- Term deposit. The lower minimum deposit and flexible terms make it easier to invest your money for a set amount of time.
- Versatility. Police Bank has thought of all of your savings needs and provides a number of versatile accounts to help you meet them.
- Police Bank app. Bank on the go with an intuitive app that lets you use many of the functions that you get with internet banking.
- Transaction account. In order to become a member and open a savings account you must open a transaction account with Police Bank.
How do I apply for a Police Bank Account?
The first step in opening a Police Bank account is to apply for membership and open a transaction account. You will be given the opportunity to receive cash just for joining the credit union, and even more money if you opt to open at least three other savings accounts at the time that you apply for membership. They will attempt to verify your identity electronically with information from your driver’s licence or passport, and once completed you membership and account details will be forwarded to you.
More guides on Finder
The best standing desk in Australia: Our top choice of the year
If you're looking for a standing desk for the home office, the Omnidesk Ascent is our #1 choice for 2023.
Fast NBN plans are now cheaper. Is it worth switching?
It's time to sort out your NBN plan for the new year.
Save $1,583 a year by using index funds instead of active trading | Dollar Saver tip #60
Invest in an index fund instead of actively trading stocks and you not only save on time and fees, you could be earning more in returns too.
5 perks you can score by upgrading your internet this year
SPONSORED: Upgrade your internet before the end of 2023 and get ahead on your life admin! We take a look at some of the benefits of a faster internet connection.
Aussies are struggling to save money, and Gen Z blame themselves
Young Australians cite overspending as the main reason for not reaching their financial goals.
Shein IPO: How to invest in the Shein IPO
What you need to know about investing in Shein from Australia.
Best places to exchange currency in Brisbane
Your guide to currency exchange in Brisbane, including how to get the best exchange rate.
Waiting for rates to fall? Don’t bank on it, says ANZ CEO
Addressing speculation that interest rates might fall in late-2024, ANZ CEO Shayne Elliott said he thought it was too optimistic.
Ask an Expert