Once we request your funds, the transferring fund needs to complete the payment transfer.
In some cases, the funds are first received into a temporary holding account while the transferring fund confirms how they should be allocated.
After this confirmation, we move the funds into your Retirement Savings Account (RSA) as soon as possible.
The effective date applied to your account will reflect the date we received the funds, either into an initial holding account or your RSA.
Available to all Australians, the Defence Bank Retirement Savings Account (RSA) is a capital guaranteed product for managing your retirement benefits through every stage of your life.
There is no exposure to the possibility of negative investment returns or interest eroding the capital invested that may be associated with other superannuation products.
Get the security of a term deposit with the tax advantages of retirement superannuation.
When entitled to a benefit you can take the benefit as a pension or a lump sum.
It's a safe and certain tax-effective superannuation alternative for those looking for secure retirement investment options covered by the Financial Claims Scheme.
A minimum of $10,000.00 is required to open a Defence Bank RSA.
While in the accumulation phase, you may make additional contributions at any time after confirming your eligibility. You may need to quote your RSA number and tell us the character and nature of the contribution you are making.
You may rollover amounts or transfer funds and contribute your funds to your Defence Bank RSA.
Your employer may also make contributions on your behalf.
Applying for a Retirement Savings Account is fast and easy.
If you're an existing Defence Bank member, your application can be completed via Online Banking.
New to the bank? Simply provide a few details to get started with Defence Bank membership to get access to the Online Banking.
What to expect
Got questions? Talk to an RSA specialist at a time that suits you.
Applying from overseas
If you’re currently overseas, your application will be completed slightly differently.
After your account is opened
If your previous fund has closed, your super may be temporarily held by the Australian Taxation Office (ATO) until your RSA is ready. You can then request the ATO to transfer your funds into your account.
The timing of transfers will depend on your previous fund or ATO. In some cases, funds may initially be received into a holding account while allocation details are confirmed, which may take a few additional days.
We’ll keep things moving and keep you updated throughout the process.
Please read all of our rates and fees carefully before opening an account.
For all product rates, see our rates schedules.
If you require any assistance or have questions regarding our rates and fees please contact us.
| RSA variable | Interest rate.* |
|---|---|
| $0.00 to $9,999.99 | 0.05% p.a. |
| $10,000.00 plus | 1.65% p.a. |
| RSA term deposit | Interest rate.* |
|---|---|
| 6 months | 4.25% p.a. |
| 12 months | 4.50% p.a. |
| 24 months | 4.00% p.a. |
Gross rate of interest before deduction of government earnings tax.
Before acquiring the Defence Bank Super Assured RSA we recommend you read the Product Disclosure Statement (PDS) for this product and our Interest Rate Schedule. All documents are located here. To hold an RSA account without joining Defence Bank, complete the paper based application form found at the back of the PDS.
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.
Term deposits.
Where terms exceed 12 months, interest will be paid into your RSA Variable account on the anniversary of the funding date. Interest payable in respect of the last 12 months or part thereof is added to the balance at maturity.
RSA variable.
Account balances earn interest according to the applicable tiered interest rate on the entire account balance. Interest is calculated daily on the closing balance and credited annually on 30 June.
