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iSaver

Grow your savings with flexible access to your funds and an introductory bonus fixed interest rate.

Earn up to
5 .10 %† p.a.
Man smiling at phone in his hand
Open an iSaver account in under five minutes

Key features

Bonus introductory fixed savings rate for six months

Get your savings off to a good start with a bonus intro fixed rate†

No penalties for withdrawals

Enjoy the freedom to make withdrawals and still earn interest

No monthly account fees

$0 monthly account-keeping fees mean you can maximise your savings

Our iSaver rates explained

Base variable rate
0 .50 % p.a.
At a minimum, you'll earn this rate of interest*
Introductory bonus fixed rate
4 .60 % p.a.
This rate is locked in for your first new account for the first six months, up to balances of $250,000.00
Total introductory interest rate
5 .10 % p.a.
This is the total rate (base variable rate + introductory bonus fixed rate) you could earn on your first iSaver account for six months, up to balances of $250,000†

Open an iSaver account in under five minutes

If you're an existing Defence Bank member, welcome back! Opening an iSaver account is fast and easy.

New to the bank? In that case, we'll just need a few details and you'll be on your way.

Savings Account of the Year (Defence Services) - three years in a row

An award-winning savings account

Winner of WeMoney's 'Savings Account Account of the Year - Defence Services' - three years in a row.

See all of our 2025 awards

Tools and calculators

Budget planner

Calculate your regular income and expenses and make a plan for your savings

Deposit planner

Track your projected savings over time, including interest, so you can calculate how long you'll need to save for a certain goal

Expense planner

A simple tool that helps you itemise and collate your regular expenses so you know what you spend in a typical month

Max eSaver

Reach your savings goals in less time than you think.
Learn more

Term deposits

Combine some patience with our competitive rate for a return on your investment
Learn more

Money saving tips

Find helpful tips and tricks in our blog
Learn more
†

A limit of one new iSaver account per membership (including joint accounts). iSaver has a bonus introductory fixed rate of which applies to new accounts up to $250,000 for the first 6 months and a ‘base variable rate’ of which applies to all account holders. After six months the introductory bonus fixed rate will expire, and the base variable rate will apply. Does not include funds held or previously held with Defence Bank.

Interest is calculated daily on the closing balance and credited on the last day of each month.

* We may change our fees and charges and interest rates from time to time. For more details on our fees and charges, refer to the Fees and Charges Schedule. For more details on interest rates, refer to the relevant interest rate schedule.

All products except foreign currency facilities and insurance are issued by Defence Bank. Before acquiring a product, Defence Bank recommends you read the relevant terms and conditions relevant to the product, All documents are located here.

Any advice contained on this website is general advice only and does not take into account your needs, objectives or your financial situation.

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

Frequently asked questions

Even though we’ve traditionally focused on the Australian Defence Force, you don’t have to be a Defence Force employee or relative to take advantage of Defence Bank’s products and services – membership is open to all Australians.

Definitely. If you’re already a member, to open a new account (including new joint accounts) you can log into your app or online banking and follow the below instructions, or you can give us a call on 1800 033 139. If you’re not yet a member, you can join now and open accounts during the set up process.

App

  1. Login to your app.
  2. Under the main menu, select Manage Account and tap Joint Account.
  3. Select Open Joint Account and follow the prompts.

Online Banking

  1. Login to online banking.
  2. Under the main menu, select Products and tap Open Account following the prompts.

Find out how to join Defence Bank.

 

You can have one iSaver account (per individual or joint relationship) for the introductory rate to be applied.

View savings accounts

Browse more FAQs