Bunch of people leaning against wall.

The online savings account you’ve been hanging out for.

0 .80 %† p.a. Bonus fixed rate for 6 months up to $250,000.
0 .05 % p.a. Standard rate.
Bunch of people leaning against wall.

High introductory savings rate.

Interest reward for six months.

No monthly account-keeping fees.

Online access includes our award-winning app.

Make use of our highest interest rate to boost your savings. With its high bonus rate on new accounts fixed for the first six months up to $250,000, our iSaver offers the highest savings rate at Defence Bank. No matter what you’re saving for, the iSaver makes your money work harder for you.

Key features.

  • High 6 month introductory bonus interest rate on new accounts.^

  • No monthly account-keeping fees.

  • Interest calculated daily and paid monthly.

  • Access via our award-winning banking app, Online Banking and telephone banking only.

iSaver. Bonus rate (applies to new accounts for six months up to a balance of $250,000.00) . Standard rate (amounts over $250,000 and the rate after 6 months).
Interest rates. 0.80% p.a. 0.05% p.a.

This fees and charges schedule is an important document and provides you with information about the fees and charges for domestic and overseas transactions applicable to the accounts and facilities we offer.

We have two fees and charges schedules, one for domestic transactions and the other for international transactions. This fee schedule sets out our fees and charges for transactions that you make overseas or involve transferring funds into or sending funds out of Australia.

We encourage you to read both schedules. You can obtain copies for both of these fee schedules via defencebank.com.au, by visiting your local branch or calling 1800 033 139. This document should be read in conjunction with the Defence Bank Products and Services – Conditions of Use (DPS).

We also publish a brochure - ‘Tips on Reducing your Banking Fees with Defence Bank’, which can be obtained via defencebank.com.au, by visiting your local branch or calling 1800 033 139.

Domestic transactions.

Fees. Fee description. Fee amount.
Statement fees. Where you request monthly statements). $2
Cheque/direct debit honour /dishonour fee.  Charged when:
  • We decide to honour your personal cheque for payment where there are insufficient funds in your account or the credit limit will be/has been exceeded.
  • We dishonour payment of your personal cheque due to insufficient funds, payment stopped or the cheque is incorrectly completed (e.g. no signature).
  • We decline a direct debit request due to insufficient funds.
  • We decide to honour a direct debit request where there are insufficient funds in your account or the credit limit will be/has been exceeded.
Auto transfer/BPAY dishonour fee. Charged where there are insufficient funds in your account when the Auto Transfer or BPAY payment is due to be made. $10
Overdrawn/over limit fees.


  • Each time your account is overdrawn or your credit limit is exceeded without authorisation, by more than $50.00.
  • On each subsequent debit transaction while your account is overdrawn or your credit limit has been exceeded, by more than $50.00.
Dormant fee. This fee may be charged in certain circumstances when your membership is redeemed by us due to non-activity of more than 12 months. The maximum annual fee that applies is: $20
Same day domestic transfers (via Swift/RTGS). Charged when funds transferred domestically via Swift/RTGS (same day).  
  Outward bound. $11.80
  Inward bound. $6.80
Ultimate Package fees (for Banking Package holders). Package fee. $380 per annum.


Overseas transactions.

Fee name. Fee description. Fee amount.
Visa foreign currency conversion fee. The fee we charge when you make a payment or a deposit or obtain a cash advance overseas. 3% (percentage of transaction value).
Outbound foreign currency international telegraphic transfer. The fee we charge when you request we make a foreign currency telegraphic transfer to an overseas destination.

$30 when requested at a branch.

$20 when requested via online banking or the mobile app.

(Debited to your account overnight).



 The ATM direct charge fee which is levied by the ATM Operator will be displayed on the ATM screen.


A limit of one new iSaver per membership (including joint accounts). Does not include funds held, or recently held with Defence Bank.

Bonus rate applies to new accounts for six months up to a balance of $250,000. Amounts above $250,000.01 and accounts opened more than six months will receive the standard rate.

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.

We may change our fees & charges and interest rates from time to time.

All products except foreign currency and insurance are issued by Defence Bank. Defence Bank recommends you read the Defence Bank Products and Services - Conditions of Use for any product you choose to take. Any advice contained on this website is general advice only.

Next steps...

Discover our resources for creating a solid personal budget.
Get clear oversight on your finances with our useful savings calculator.
Any questions? Talk to one of our experienced, helpful staff.
Start now with our fuss-free online application process to get your savings going.

Frequently asked questions.

Definitely. If you’re already a member and the account is only in your name, you can log into your online banking and open a new account under the ‘Apply’ section, or you can give us a call. If it’s a joint account, we can send you both the form to complete. If you’re not yet a member, you can join now and open accounts during the set up process.
Become a member.


Our Everyday Access account is free from account keeping, domestic transactional and transfer fees. Some fees that apply are if the account is used incorrectly, such as EFT decline fees and direct debit dishonours. There are also overseas fees, some ATMs and merchant fees. For a full overview, have a look at our domestic and overseas fees and charges schedules.


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.

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Let's talk.

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Jump into a Live Chat session to address your queries.
Visit a branch and discuss your finances face-to-face.
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