Interest Rates
How We Review Interest Rates
The main aim in the setting of interest rates is to ensure Police Bank Members continue to enjoy interest rates that are competitively priced.
In determining its response to an RBA decision, Police Bank will take the responsible position of ensuring interest rates remain competitive for both depositors and borrowers. Police Bank will also take the prudent position of ensuring its pricing of interest rates on deposits and loans generate a sufficient level of profit on behalf of its Members.
Police Bank is 100% Member owned and our Members own our profit. This profit adds to our Capital Reserves and enables Police Bank to remain strong and invest in the growth of Police Bank for the benefit of all Members.
Thank you for your ongoing support of Police Bank.
Savings Accounts1
S1 – Easy Access Account
| $0 to $499 $500 to $20,000 $20,001 to $50,000 $50,001 or more |
S2 – Budget Manager Account
| Whole Balance |
S3 – Christmas Club Account
| Whole Balance |
S5 – Pension Maximiser (Deeming)
| Whole Balance |
S6 – Insurance Saver Account
| $0 to $499 $500 to $20,000 $20,001 to $50,000 $50,001 or more |
S8– Online SuperSaver Account+
| $0 to $499 $500 to $5,000 $5,001 or more |
S10 – Savings Plus Account
| $0 to $499 $500 to $2,000 $2,001 to $10,000 $10,001 to $30,000 $30,001 or more |
S11 – Safeguard Account
| $0 to $499 $500 to $20,000 $20,001 to $50,000 $50,001 or more |
S15 – Market Linked Account
| Fluctuates in accordance with weekly money market trends. A minimum of $5,000 to be maintained [Note: $0 to $4,999 at 0.50%] | Call 131 728 to obtain current interest rate |
S16 – First Home Saver Account
| $0 to $499 – Pre-taxAfter 15% tax $500 or more – Pre-taxAfter 15% tax |
S23 – Bonus Saver Account
| $0 to $499 $500 to $10,000 $10,001 or more Bonus Rate |
S24 – Dynamo Children’s Savings Account
| $0 to $499 $500 or more Bonus Rate |
Bonus rates are paid on top of standard rates if monthly criteria are met.
Home Loans
L26 Premium Variable Home Loan3
L26-S26 Balance Offset Home Loan3
S28/29 Equity Maximiser Home Loan4+
L26 Bridging Loan7
L26 Interest Only Home Loan13
L26 – Fixed Rate Home Loan5
| 3 years fixed @then reverts to relevant Premium Variable rate |
L26 – Fixed Rate Home Loan9
| 5 years fixed @then reverts to relevant Premium Variable rate |
L23 – Police Value Home Loan6
L23 – Police Value Fixed Rate Home Loan
| 3 years fixed @then reverts to relevant Police Value Variable rate |
L23 – Police Value Fixed Rate Home Loan11
| 5 years fixed @then reverts to relevant Police Value Variable rate |
L22 – OneChoice Home Loan12
| 24 Months Fixed @then reverts to OneChoice standard variable rate currently |
Term Deposits1
Interest Paid at Maturity
| I1 – 3 months I5 – 3 months I25 – 6 months I12 – 12 months | $1,000 to $9,999 $10,000 or more $10,000 or more $10,000 or more |
Interest Paid Every Six Months
| I29 – 24 months I31 – 36 months I32 – 48 months I33 – 60 months | $10,000 or more $10,000 or more $10,000 or more $10,000 or more |
Interest Paid Every Month
| I2 – 3 months I3 – 3 months I10 – 6 months I24 – 12 months I52 – 24 months I53 – 36 months I54 – 48 months I55 – 60 months | $1,000 to $9,999 $10,000 or more $10,000 or more $10,000 or more $10,000 or more $10,000 or more $10,000 or more $10,000 or more |
Special Investment Accounts
| I60 – 2 months | $20,000 or more |
Reduced rate for early redemption is 2.25% p.a.
Amounts over $200,000 are accepted subject to confirmation.
Consumer Loans
S1 – Easy Access Overdraft4
| Description Unsecured Overdraft on S1 Easy Access Account | Interest Rate |
S14 – Visa Credit Card4
| Description Unsecured Credit Card | Interest Rate |
L9 – Personal Loan (regulated)2
| Description Available for all worthwhile purposes | Interest Rate |
L9 – Driveaway Car Loan
| Description For new & used cars up to 5 years old | Interest Rate Variable2 Fixed14 |
L9 – Greenrate Car Loan8
| Description For new & used cars up to 3 years old with greenhouse rating 6.0 or higher | Interest Rate |
EDVEST Term Deposits
(only available to members of the Edvest Service)
Maturity Incentive (interest at maturity)
| Product I4 – 3 months | Amount $10,000 or more | Interest Rate |
Regular Income Plus (interest paid fortnightly)
| Product I45 – 6 months I46 – 12 months I47 – 18 months I48 – 24 months I49 – 36 months | Amount $5,000 or more $5,000 or more $5,000 or more $5,000 or more $5,000 or more | Interest Rate |
Deferred Interest Plus (interest at maturity)
| Product I51 – 3 months I23 – 6 months I22 – 12 months | Amount $1,000 or more $1,000 or more $1,000 or more | Interest Rate |
Interest Paid Six Monthly
| Product I58 – 24 months | Amount $10,000 or more | Interest Rate |
Reduced rate for early redemption is 2.25% p.a.
Amounts over $200,000 are accepted subject to confirmation.
Edvest Savings Accounts
S21 – Redifund Plus
| Plus bonus rate on market linked rate. A minimum of $5,000 to be maintained at all times. [Note: $0 to $4,999 at 0.50%] | Call 131 728 to obtain current interest rate |
Terms and Conditions
Ref:
+ Products that do not contribute to Member Rewards. See Member Rewards for full terms and conditions.
(1) Applicable as atfor (S) andfor (I) type accounts. Full terms and conditions available on application. Fees and charges apply. Interest rates for (S) and (I) type accounts are subject to change without notice.
(2) Rates applicable as atfor new business. Lending criteria apply. Full terms and conditions are available on application. Fees and charges apply.
(3) Rates applicable as atfor new business. Applicable as atfor existing Members. Lending criteria apply. Full terms and conditions are available on application. Fees and charges apply.
(4) New rate applicable from. Lending criteria apply. Full terms and conditions are available on application. Fees and charges apply.
(5) Rates applicable as atfor new business. Lending criteria apply. Full terms and conditions are available on application. Fees and charges apply.
(6) Rates applicable as atfor new business. Applicable as atfor existing Members. Police Value Home Loan only available to current serving Police Officers or a Retired Police Officer(s) who are a member of a Union that is associated with the Police Federation of Australia. This includes NSW Police Association (including Associate members) and the Australian Federal Police Association. Fees and charges and lending criteria apply. Full terms and conditions are available on application.
(7) Applicable as atfor new business. Applicable as atfor existing members. Lending criteria apply. Full terms and conditions.
(8) Applicable as at. Lending criteria apply. Full terms and conditions are available on application. Fees and charges apply.
(9) Rates applicable as atfor new business. Lending criteria apply. Full terms and conditions are available on application. Fees and charges apply. Available for principal and interest loans only. No interest only loans.
(10) Rates applicable as atfor new business. Police Value Home Loan only available to current serving Police Officers or a Retired Police Officer(s) who are a member of a Union that is associated with the Police Federation of Australia. This includes NSW Police Association (including Associate members) and the Australian Federal Police Association. Fees and charges and lending criteria apply. Full terms and conditions are available on application. Available for principal and interest loans only. No interest only loans.
(11) Rates applicable as atfor new business. Police Value Home Loan only available to current serving Police Officers or a Retired Police Officer(s) who are a member of a Union that is associated with the Police Federation of Australia. This includes NSW Police Association (including Associate members) and the Australian Federal Police Association. Fees and charges and lending criteria apply. Full terms and conditions are available on application. Available for principal and interest loans only. No interest only loans.
(12) Rates applicable as atfor new business. One Choice standard variable rate applicable as atfor existing members. Fees and charges and lending criteria apply. Full terms and conditions available on application.
(13) Rates applicable as atfor new business. Applicable as atfor existing members. Lending criteria apply. Full terms and conditions available on application.
(14) Rates applicable as atfor new business. Lending criteria apply. Full terms and conditions are available on application. Fees and charges apply.
