Finty
P&N Bank

P&N Bank Hi Saver Account

No conditions on the rateIntroductory rate

Boost your savings and enjoy bonus interest for the first four months with our Hi Saver Account. It's your savings, supercharged.

Written byDavid Boyd
Base rate up to
0.05%
Introductory rate
5.60% for 4 months
Maximum balance
$5,000,000

Rate a year, up to

Open account

Rates by balance

BalanceBase rate
Any balance0.05%

Who can open it

Age to open
12 and over
Maximum balance
$5,000,000

Who it's for

  • You must be or become a P&N Bank member.

Limits and conditions

  • A member may hold a maximum of one Hi Saver account as a single account owner and one Hi Saver account as a joint account owner. You may apply to open a Hi Saver account 12 months from the date of closing any previously owned Hi Saver account as a single or joint account holder.

How it compares

Against the other savings accounts we compare. Typical means the middle half of them.

Most it pays

0.05%

At its best balance, with any bonus. Typical is 3.65%.

Base rate

0.05%

What it pays without a bonus. Typical is 2.40%.

Pros and cons

Pros

  • No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.

Cons

  • A lower rate. Up to 0.05%, below the typical 3.65%, so your savings grow more slowly than in many other accounts.
  • A low base rate. Only 0.05% in any month you miss the bonus conditions.
  • An intro rate. Part of the rate lasts 4 months, then drops, so check again when it ends.
  • A balance cap. Interest is paid on up to $5,000,000, so it suits smaller balances.

Similar savings accounts

Savings accounts from other banks that pay a similar rate at their best.