Term Deposits

Term Deposits - Defence Bank


Whether you’re in the Defence Force or part of the general community, you can secure your finances today with a very competitive rate on our Fixed Term Deposits.

Investments start from as little as $1,000 and you can choose terms of between 30 days and 24 months, depending on your individual circumstances and when you’d like to access your funds.


Our Term Deposits feature:

  • No fees
  • Easy online application
  • Get started with as little as $1,000
  • A choice of flexible terms, up to 24 months
  • View your Term Deposit with Online Banking
  • Open as many Term Deposits as you like
  • A number of options available at maturity.

Apply online

Money Idea

Have you heard of 'laddering'?
‘Laddering’ is a way of investing your money for a longer period of time, but still having access to it at regular intervals.

Say that you have $10,000 to invest. If you wanted to ‘ladder’ $10,000 equally over two years, you’d invest $5,000 into a one year term deposit and $5,000 into a two year term deposit. As each term deposit matures, you invest the funds into a new two year term deposit.

This means that every 12 months, you’ll have a term deposit that matures, but you’ll still have money put away for longer terms, which may help you reach your savings goals faster.


Note: RSA (superannuation) Term Deposits are different. Read more about RSA Term Deposits.

Refer to our DPS brochure for full details.


Interest rates


Effective 20 March 2014

Rates for Term Deposits


Premium (minimum investment $1,000)
$1,000 - $49,999
$50,000 - $1,000,000*
5 months
3.75% pa
3.75% pa

Standard (minimum investment $1,000)
$1,000 - $49,999
$50,000 - $1,000,000*
3 months
3.40% pa
3.40% pa
6 months
3.40% pa
3.40% pa
9 months
3.45% pa
3.45% pa
12 months
3.50% pa
3.50% pa
24 months
3.90% pa
3.90% pa

* If your deposit is over $1,000,000, please call our Investments Team on 1800 979 188 to discuss.

Go to Term Deposits

Rates for Defence Bank Retirement Savings Account:

Variable rate option
Balance
Percentage Rate
$1 - $9,999
2.00% pa
$10,000 and over
2.50% pa

  • Account balances earn interest according to the applicable tiered interest rate on the entire account balance. Interest is calculated daily on the closing balance and credited annually on 30 June.
  • The rates quoted are gross rate of interest before deduction of government earnings tax.

Term Deposit option
Min Balance
Terms
Percentage Rate
$25,000
6 months
3.75% pa
$25,000
12 months
3.75% pa

  • Interest on each term deposit is calculated daily and is credited at the end of the term selected. Interest, when credited, is then paid into your RSA Variable Rate account.
  • The rates quoted are gross rate of interest before deduction of government earnings tax.

Go to Defence Bank Retirement Savings Account

Rates for Defence Bank Super Term Deposits

Minimum investment $10,000
$10,000 plus
1 year
3.75% pa
2 year
4.00% pa
3 year
4.10% pa

Go to Defence Bank Super

Rates for iSaver:

Opening rate (applicable for three months)
$0 plus
4.20% pa

Standard rate
$0 - $4,999.99
2.00% pa
$5,000.00 plus
2.50% pa

  • Opening rate applies to new accounts only and to the entire balance for the first three month period, it then converts to the standard rate.
  • New accounts do not include funds previously invested with Defence Bank. Limit of one iSaver account per member.
  • Interest is calculated daily on the closing balance and credited on the last day of each month.
  • Available only for deposits up to $1 million.

Go to iSaver account

Rates for the Max eSaver:

Standard Rate
Bonus Rate
0.50% pa
3.00% pa

  • If a deposit is made within the month with no withdrawals, the bonus rate, as reflected above, applies to the balance for that month.
  • Interest is calculated daily on the closing balance and credited on the last day of each month.

Go to Max eSaver account

Rates for National Access and Salary Saver:

Balance
Percentage Rate
$0 - $249.99
nil
$250.00 plus
0.01%p.a

  • Interest is earned on that part of the balances that exceeds $249.99
  • Interest is calculated daily on the closing balance and credited on 31 March each year.

Go to National Access and Salary Saver account

Rates for First Home Saver Account (not available for new applications):

Balance
Percentage Rate
$0 plus
2.50% pa

  • Interest is calculated daily on the closing balance and credited on 30 June each year.
  • The rates quoted are gross rate of interest before deduction of government earnings tax.

Rates for Cash Management:

Min Balance
Percentage Rate
$0 - $999.99
0.00% pa
$1,000.00 - $4,999.99
1.00% pa
$5,000.00 - $19,999.99
2.00% pa
$20,000.00 - $49,999.99
2.50% pa
$50,000.00 plus
3.00% pa

  • Account balances earn interest according to the applicable tiered interest rate on the entire account balance
  • Interest is calculated daily on the closing balance and credited on the last day of each month.

Go to Cash Management account

Rates for Budget Savings and General Insurance Savings:

Balance
Percentage Rate
$0 plus
0.01% pa

  • Interest is calculated daily on the closing balance and credited on 31 March each year.

Go to Budget Savings and General Insurance Savings account

Rates for Christmas Saver:

Balance
Percentage Rate
$0 - $249.99
nil
$250 plus
0.01% pa

  • Interest is earned on that part of the balance that exceeds $249.99
  • Interest is calculated daily on the closing balance and credited on 31 October each year.

Go to Christmas Saver account

Rates for Pensioner Deeming:

Balance
Percentage Rate
$0 - $46,600
2.50% pa
$46,601 plus
3.50% pa

  • The first $46,600 earns interest at the lower interest rate regardless of account balance
  • Interest is calculated daily on the closing balance and credited on the last day of February, May, August and November each year.

Go to Pensioner Deeming account

Rates for Kids Club:

Min Balance
Percentage Rate
$0
1.50% pa

  • Interest is calculated daily on the closing balance and credited on 31 March each year.

Go to Kids Club account

Terms and Conditions Apply

 
Our Term Deposits have no fees.
Forms for Defence Bank Term Deposits can be found below.

Once you've printed and completed any forms, you may return them to us in one of three ways:


  • By email to: investments@defencebank.com.au
  • By fax to: (03) 8624 4718
  • By post to: Defence Bank, Retail Investments, PO Box 14537, Melbourne VIC 8001


Term Deposits - Defence Bank

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