The suspects reportedly used automatic weapons and an anti-tank missile in the heist last September.
Their colleagues in the police helped identify them to investigators, said Dragan Lukak, interior minister of Bosnia's Serb-run region.
Two other people have been arrested for alleged involvement in the raid.
Money on board the armoured vehicle belonged to a subsidiary of UniCredit, Italy's top bank. A security guard was injured in the robbery.
Mr Lukak said the suspects, if found guilty, would have "disgraced... their unit and the whole police force".
Bosnia is administered under two entities, the Muslim-Croat Federation and the Serb Republic, each with their own police force.

Adam Morgan finished off a searing counter-attack to punish the hosts after 28 minutes, scoring only their second league goal in five games.
Moors had a golden opportunity to equalise moments after the break but Oladapo Afolayan's penalty was well saved by Sam Johnson after Matty Brown was adjudged to have fouled the striker in the box.
The defeat sees Solihull sink to the bottom of the fledgling National League table, having only picked up one point from their first four games.
Match report supplied by the Press Association.
Match ends, Solihull Moors 0, FC Halifax Town 1.
Second Half ends, Solihull Moors 0, FC Halifax Town 1.
Jordan Cullinane-Liburd (Solihull Moors) is shown the yellow card.
Matthew Kosylo (FC Halifax Town) is shown the yellow card.
Substitution, Solihull Moors. Jack Edwards replaces Luke Benbow.
Substitution, Solihull Moors. Paul Green replaces Shepherd Murombedzi.
Scott McManus (FC Halifax Town) is shown the yellow card.
Kristian Green (Solihull Moors) is shown the yellow card.
Luke Benbow (Solihull Moors) is shown the yellow card.
Substitution, FC Halifax Town. Bohan Dixon replaces Adam Morgan.
Substitution, Solihull Moors. Luke Benbow replaces Tristan Dunkley.
Substitution, FC Halifax Town. Dion Charles replaces Josh MacDonald.
Second Half begins Solihull Moors 0, FC Halifax Town 1.
First Half ends, Solihull Moors 0, FC Halifax Town 1.
Substitution, FC Halifax Town. Scott McManus replaces Martin Riley.
Tristan Dunkley (Solihull Moors) is shown the yellow card.
Goal!  Solihull Moors 0, FC Halifax Town 1. Adam Morgan (FC Halifax Town).
Shepherd Murombedzi (Solihull Moors) is shown the yellow card.
First Half begins.
Lineups are announced and players are warming up.
Five members of Bosnia's special police have been held over an armed raid on a bank van that netted 617,000 marka ($344,000; Â£241,000), officials say.
[NEXT_CONCEPT]
FC Halifax claimed their first win of the season by beating Solihull.