Man with dog in field.

Pension Saver.

Your money comes to you when you call.

Man with dog in field.

Key features.

An account for later in life.

Available to Defence Bank members aged 55 years and above.

Access by Visa debit card

Pay instore or online, make fast payments and transfers and withdraw your money from ATMs.

Spend and earn.

Earn tiered interest to maximise your returns.

Our Pension Saver account explained.

How does the Pension Saver account work?

This is an at-call tiered savings and transaction account. To apply, you or the joint account holder must be 55 years of age and above.

Balances up to $50,200.^
1 .95 % p.a.
Balances over $50,200.
2 .65 % p.a.

Start the process to open Pension Saver over the phone.

If you're an existing Defence Bank member, welcome back! Talk to us about a Pension 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.

Interest is calculated daily on the closing balance and credited on the last day of February, May, August and November each year. The first $50,200.00 earns interest at the lower interest rate regardless of account balance.

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.