In response to the RBA’s recent decision to reduce the official cash rate by 0.25%p.a. on Tuesday 20 May 2025, Defence Bank is decreasing interest rates on a number of its home loans, savings and term deposit products.
Effective from Wednesday 28 May 2025, we will be making the following changes:
All existing owner-occupied and investor variable rate (including interest-only) home loan interest rates will decrease by 0.25% p.a.
Affected home loan members will receive more information on the changes to their rate and repayments in the coming weeks. If you're experiencing financial difficulties or have concerns about repayments, we encourage you to reach out to discuss your options.
Max eSaver bonus variable interest rate will decrease by 0.25% p.a., providing an all up variable rate of 4.65% p.a. (standard variable rate plus bonus variable rate).
Salute base variable rate will decrease by 0.25% p.a. to 3.50% p.a., providing an all-up rate of 5.00% p.a. for new accounts.
iSaver base variable rate will decrease by 0.25%p.a. to 0.75% p.a., providing an all up of 4.65% p.a. for new accounts.
All junior accounts (Kids, Teens and Cadets) standard variable rates decrease by 0.25% p.a. to 4.50% p.a.
Term deposit rates have decreased across a range of terms. Our current 7-month premium rate offer has been increased and is now 4.15% p.a.
Retirement Savings Account (RSA) variable rate option for balances above $10,000 tier has decreased by 0.30%, new rate is 1.15% p.a.
For all other product rates, see our interest rate schedules.
For any help and further queries, contact us on 1800 033 139 or visit your nearest branch.
