Family playing cricket in backyard

Everything you need, nothing you don't.

4 .27 % p.a. Variable annual rate.
4 .43 %* p.a. Comparison rate.
Family playing cricket in backyard

DHOAS compatible for eligible ADF personnel.

No application fees.

100% mortgage offset account.**

Interest only option.

Sometimes simple is best. Our Essentials home loan offers a competitive rate with the convenience and flexibility you need.

Compatible for owner-occupied (including DHOAS), investment and construction loans, Essentials is a solid bet on a loan that has your back, whether it’s your first home, your tenth or anything in-between.

Key features.

  • DHOAS Home Loan compatible.
  • No application fees.
  • 100% mortgage offset account.**
  • Free loan redraw (min $100).**
  • No fees for extra repayments.
  • Fixed rate option.
  • Interest only option.
  • Construction (interest only) available.
Owner occupier and investor. Annual rate. Comparison rate.*
Variable rate. 4.27% p.a. 4.43% p.a.
Investor. Annual rate. Comparison rate.*
Interest-only construction. 4.27% p.a. 4.47% p.a.
Interest only variable. 4.57% p.a. 4.53% p.a.
Smart Mover Line of Credit. Annual rate.
Variable rate.‡ 5.52% p.a.
Application fee. $0
Loan Settlement fee.^ $275
Valuation fee.^  
– Standard valuation. $205.25
Loan Service fee.^ (monthly) $8
Consent and variation fee.^ $250
Switching fee.^ (For example switching from fixed to variable interest rate.) $300
Security discharge administration fee.^ $250
Substitution of loan security fee.^ $275
May be payable.^  
– Solicitors and other parties actioning requests. Not ascertainable
Rate lock fee.  
– When you ask us to lock in a fixed, or guaranteed, rate of interest on a home loan. 0.15% of the fixed interest rate loan amount.
Break cost fee.†  
Payable before expiry of any period when interest rate is fixed on any portion of loan due to loan being repaid, interest becoming variable or default. We calculate the ‘break cost’ using the following formula:  
Let n = the remaining number of months for which the rate is fixed.
Let A = current outstandings.
Let P = monthly scheduled payments.
Let z = annual fixed interest rate payable monthly.
Let y = annual reinvestment rate payable monthly.
Let b = (1+y/12)n Let d = (1+z/12)n.
Then the Break Value is given by: (A/b)*(d-b)+12P/(byz)*(z(b-1)-y(d-1)).
Arrears reminder notice fee (per letter). $20
Default Notice (enforcement notice). $20
Redraw Fee (Basic Variable home loan only). $25



Comparison rates based on a $150,000 secured loan over 25 years. Fees and charges are payable. Terms and conditions available on request. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. For interest only variable loans, the comparison rates are based on an initial 5 year interest only term. For fixed rate interest only loans, the comparison rates are based on an initial interest only period equal in term to the fixed period.


These features are not available during a fixed interest period.


Not payable under the Ultimate Package.


Not payable on the DHOAS Premier and DHOAS Premier Low Rate Home Loan or Premier and Premier Low Rate Home Loan. Details available in branch or at

Fees and charges are payable. Terms and conditions available on request.

Terms and conditions, fees and charges apply and are available upon request.

Approval subject to Defence Bank's lending criteria.

Rates apply to new applications received however are subject to change at anytime.

Minimum loan amount $250,000.

Defence Bank’s Target Market Determination can be viewed here.

Home Loan Refinance Cashback Promotion.
$2,500 cashback offer for the refinance of a home loan to Defence Bank.
Terms and conditions.
1. The Promoter is Defence Bank Limited ABN 57 087 651 385 AFSL / Australian Credit Licence 234582 of Level 10, Queen Street, Melbourne 3000 (‘Defence Bank’ or ‘Promoter’).
2. This $2,500 cashback promotion (‘Promotion’) commences on Tuesday 8th February 2022 and closes on Saturday 30th September 2022 (‘Promotion Period’).
3. Applications for Defence Bank home loans are subject to credit approval. Full terms and conditions will be included in members’ Defence Bank loan offer. Fees and charges may be payable.
4. This offer is available to Australian residents aged 18 years and over who refinance a home loan with a new Defence Bank home loan product (‘Eligible Members’) under the following Eligibility Requirements:
- Home loan application must be submitted within the Promotional Period (point 2 above).
- Lending must be new to Defence Bank (refinances of existing Defence Bank home loans are excluded from this offer).
- Repayment type can be principal and interest or interest only
- Available to fixed and variable home loans.
- Available on owner occupier and investor home loans
- Minimum home-loan-specific refinance amount ≥$250k.
- All Defence Bank home loans (excluding construction loans) are eligible
- Home loan must be disbursed on or before 30 November 2022.
- Normal lending policies apply.
- This offer is not available in conjunction with any other promotions.
5. Only one cashback per security property. Where a home loan has more than one applicant and one applicant receives the cashback, all applicants are deemed to have received the cashback. Maximum cashback amount of $2,500.
6. Defence Bank reserves the right to verify the validity of Eligible Members (including a members identity and application details) and reserves the right to disqualify any Eligible Member if the member is engaged in any unlawful or other improper misconduct calculated to jeopardise the fair and proper conduct of the Promotion.
7. Provided these Terms and Conditions including Eligibility Requirements are met, Eligible Members will receive $2,500 cashback transferred electronically into their new Everyday Access account after the loan has been disbursed. The date of cashback payment will be 45 days (or the next business day where the 45 days falls on a weekend or public holiday) from the date of loan disbursal.
8. Eligible Members must hold or open an Everyday Access account.
9. The $2,500 cashback cannot be used towards the calculation of serviceability of the home loan.
10. Eligible Members accept the cashback ‘as is’ and acknowledge that Defence Bank accepts no responsibility for any tax implications that may arise from the cashback. Eligible Members may need to seek advice from the Australian Tax Office or their own taxation adviser or independent financial adviser.
11. Defence Bank reserves the right to review and amend these Terms and Conditions at any time.

See our range of DHOAS-compatible owner-occupier home loans.
Use our home loan calculators to see how your dream home fits into your budget.
Any questions? Speak to our experienced, helpful staff.
Find a home loan consultant at a branch near you.

Frequently asked questions.

You need to have at least 5% genuine savings plus enough funds to cover fees and charges.

Where you have less than a 20% deposit, lenders mortgage insurance (LMI) or, if you are eligible, a First Home Guarantee (formerly the First Home Loan Deposit Scheme) will be required. Speak to a home loan consultant to find out more.

Look at our home loan options.

The Defence Home Ownership Assistance Scheme (DHOAS) assists current and former Australian Defence Force (ADF) members and their families to achieve homeownership.

DHOAS is administered by the Department of Veterans' Affairs (DVA) on behalf of the Department of Defence.

DHOAS provides eligible current and former serving members of the Permanent Force and the Reserves with a subsidy on the interest of their home loans.

The subsidy is paid monthly, directly into a DHOAS home loan. The amount of subsidy you receive depends on your subsidy tier level and the balance of your home loan up to your subsidised loan limit. 

To learn more about Defence Bank DHOAS home loans click here

To find out more about DHOAS and your eligibility click here

Yes, we are one of the financial institutions who are able to offer this scheme to our members. To check your eligibility, visit the National Housing Finance and Investment Corporation (NHFIC) website.
Check if you’re eligible.

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