P&N Bank Way Cool Saver
No conditions on the rate
It's never too early to learn the value of money. And a Way Cool Saver is a great way to get started. Teach your kids to save more and spend less of their pocket money - handy skills to have down the track.
- Base rate up to
- 3.55%
- Introductory rate
- None
- Maximum balance
- $5,000,000
Rate a year, up to
Rates by balance
| Balance | Base rate |
|---|---|
| $0 to $5,000 | 3.55% |
| $5,000 and over | 0.00% |
Who can open it
- Age to open
- Up to 15
- Maximum balance
- $5,000,000
Who it's for
- You must be or become a P&N Bank member.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
3.55%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
3.55%
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.
- An age limit. Only for people up to 15.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 3.55%
- Bonus conditions
- None
- Most it pays
- 3.51%
- Bonus conditions
- Yes
- Most it pays
- 3.50%
- Bonus conditions
- None
