Group of people leaning against a wall.

Teen Saver.

For those hanging out for more.

4 .75 % p.a. Variable rate.
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Key features.

A savings account for 12-17 year olds.

Encourages financial independence during formative years.

No monthly account fees.

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

No ATM fees at major banks.

Fee-free cash withdrawals at Defence Bank ATMs and also at all big four banks’ ATMs Australia-wide.

Our Teen Saver account explained.

Teen Saver takes saving your money to the next level.

It’s a great option for those aged 12-17 years with growing financial independence in mind. It doesn’t matter if you're a spender or saver - we’ve got you covered with no local transactional fees and a competitive interest rate for savings.

Variable rate.
4 .75 % p.a.

Start the process to open a Teen Saver over the phone.

If you're an existing Defence Bank member, welcome back! Talk to us about a Teen Saver account today.

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

Call us on 1800 033 139

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.


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

Term deposits.

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

Money saving tips.

Find helpful tips and tricks in our blog.

For children and teens aged between 12-17 years. At 18 years we will convert your account into an Everyday Access Account.

Interest is calculated daily on the closing balance and credited on 31 March each year.

Available only for deposits up to $1 million.

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 (Domestic Transactions) and Fees and Charges Schedule (Overseas Transactions). For more details on interest rates, refer to the relevant interest rate schedule.

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

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.