P&N Bank Momentum Account
No conditions on the rate
A transaction account for customers aged 55 and over, with easy access to funds and variable stepped interest.
- Base rate up to
- 2.70%
- Introductory rate
- None
- Maximum balance
- $5,000,000
Rate a year, up to
Rates by balance
| Balance | Base rate |
|---|---|
| $0 to $10,000 | 0.30% |
| $10,000 to $50,000 | 1.85% |
| $50,000 to $100,000 | 2.35% |
| $100,000 to $1,000,000,000 | 2.70% |
Who can open it
- Age to open
- 55 and over
- Maximum balance
- $5,000,000
Who it's for
- Customers may hold up to a total of 3 Momentum Account accounts under single or joint names.
- You must be or become a P&N Bank customer.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
2.70%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
2.70%
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 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.
- Most it pays
- 2.70%
- Bonus conditions
- None
- Most it pays
- 2.70%
- Bonus conditions
- None
- Most it pays
- 2.70%
- Bonus conditions
- None
