In response to the Reserve Bank of Australia’s recent decision to raise the official cash rate by 25 basis points, Defence Bank will increase interest rates on a number of its variable home loans, savings, and term deposit products.
Our interest rates on all variable rate home loans will increase by 0.25%, effective 14 October 2026. Impacted members will receive notification of the changes to their home loans.
Our new savings and term deposit interest rates are as follows, effective 14 October 2026:
- Max eSaver bonus interest rate will increase by 10 basis points, taking the combined rate from 5.10% to 5.20% p.a.
- The iSaver rate will remain unchanged.
- Salute base variable rate will increase by 25 basis points, taking the combined rate from 5.50% to 5.75% p.a.
- All of our junior accounts standard variable rates will increase by 0.25% p.a. to 5.25% p.a.
- Select term deposit rates will increase by up to 0.25% p.a., with the 10, 12 and 24-month terms increasing by 0.05% p.a. and 0.10% p.a. respectively. Our special rates will remain: 4 months at 5.10% p.a., with premium rates of 5.40% p.a. for 10 months and 5.35% p.a. for 24 months.
- RSA Variable and Pension rates will remain unchanged. RSA Term Deposit rates will increase by up to 0.30% p.a., with the 6-month term increasing to 4.50% p.a. and the 12-month term increasing to 4.80% p.a.
- For all other current product rates, see our rates.
For members experiencing difficulty or for those concerned about the impact of rising interest rates and repayments, we encourage you to contact us about your situation. For any help and further queries, contact us on 1800 033 139 or visit your nearest branch.
