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  • Whether you’re in the Defence Force or part of the general community, you can secure your finances today with a very competitive rate on our Fixed Term Deposits.

    Investments start from as little as $1,000 and you can choose terms of between 30 days and 24 months, depending on your individual circumstances and when you’d like to access your funds.


    Our Term Deposits feature:
    • No fees
    • Easy online application
    • Get started with as little as $1,000
    • A choice of flexible terms, up to 24 months
    • View your Term Deposit with Online Banking
    • Open as many Term Deposits as you like
    • A number of options available at maturity.

    Money Idea



    Have you heard of 'laddering'?
    ‘Laddering’ is a way of investing your money for a longer period of time, but still having access to it at regular intervals.

    Say that you have $10,000 to invest. If you wanted to ‘ladder’ $10,000 equally over two years, you’d invest $5,000 into a one year term deposit and $5,000 into a two year term deposit. As each term deposit matures, you invest the funds into a new two year term deposit.

    This means that every 12 months, you’ll have a term deposit that matures, but you’ll still have money put away for longer terms, which may help you reach your savings goals faster.


    Note: RSA (superannuation) Term Deposits are different. Read more about RSA Term Deposits.

  • Interest rates

    Effective 27 July 2015

    Rates for Term Deposits


    Premium (minimum investment $1,000)
    $1,000 - $49,999
    $50,000 - $1,000,000*
    5 months
    2.90% pa
    2.90% pa

    Standard (minimum investment $1,000)
    $1,000 - $49,999
    $50,000 - $1,000,000*
    3 months
    2.50% pa
    2.50% pa
    6 months
    2.60% pa
    2.60% pa
    9 months
    2.70% pa
    2.70% pa
    12 months
    2.70% pa
    2.70% pa
    24 months
    2.85% pa
    2.85% pa

    * If your deposit is over $1,000,000, please call our Investments Team on 1800 979 188 to discuss.

    Rates for Defence Bank Retirement Savings Account:


    Variable rate option
    Balance
    Percentage Rate
    $1 - $9,999
    1.25% pa
    $10,000 and over
    2.00% pa

    • 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.
    • The rates quoted are gross rate of interest before deduction of government earnings tax.

    Term Deposit option
    Min Balance
    Terms
    Percentage Rate
    $25,000
    6 months
    2.70% pa
    $25,000
    12 months
    2.75% pa

    • Interest on each term deposit is calculated daily and is credited at the end of the term selected. Interest, when credited, is then paid into your RSA Variable Rate account.
    • The rates quoted are gross rate of interest before deduction of government earnings tax.

    Rates for Defence Bank Super Term Deposits


    Minimum investment $10,000
    $10,000 plus
    1 year
    2.90% pa
    2 year
    3.00% pa
    3 year
    3.15% pa

    Rates for iSaver:


    Opening rate (applicable for three months)
    $0 plus
    3.00% pa

    Standard rate
    $0 plus
    2.00% pa

    • Opening rate applies to new accounts only and to the entire balance for the first three month period, it then converts to the standard rate.
    • New accounts do not include funds previously invested with Defence Bank. Limit of one iSaver account per member.
    • 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.

    Rates for the Max eSaver:

    Standard Rate
    Bonus Rate
    0.25% pa
    2.75% pa

    • If a deposit is made within the month with no withdrawals, the bonus rate, as reflected above, applies to the balance for that month.
    • Interest is calculated daily on the closing balance and credited on the last day of each month.

    Rates for National Access and Salary Saver:

    Balance
    Percentage Rate
    $0 - $249.99
    nil
    $250.00 plus
    0.01%p.a

    • Interest is earned on that part of the balances that exceeds $249.99
    • Interest is calculated daily on the closing balance and credited on 31 March each year.

    Balance
    Percentage Rate
    $0 plus
    2.25% pa

    Rates for Cash Management and Flexi Term:

    Min Balance
    Percentage Rate
    $0 - $999.99
    0.00% pa
    $1,000.00 - $4,999.99
    0.50% pa
    $5,000.00 - $19,999.99
    1.50% pa
    $20,000.00 - $49,999.99
    1.50% pa
    $50,000.00 plus
    2.00% pa

    • 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 on the last day of each month.

    Rates for Budget Savings and General Insurance Savings:

    Balance
    Percentage Rate
    $0 plus
    0.01% pa

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

    Rates for Christmas Saver:

    Balance
    Percentage Rate
    $0 - $249.99
    nil
    $250 plus
    0.01% pa

    • Interest is earned on that part of the balance that exceeds $249.99
    • Interest is calculated daily on the closing balance and credited on 31 October each year.

    Rates for Pensioner Deeming:

    Balance
    Percentage Rate
    $0 - $48,000
    1.75% pa
    $48,001 plus
    3.25% pa

    • The first $48,000 earns interest at the lower interest rate regardless of account balance
    • Interest is calculated daily on the closing balance and credited on the last day of February, May, August and November each year.

    Rates for Kids Club:

    Min Balance
    Percentage Rate
    $0
    1.50% pa

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

    Terms and Conditions Apply

  • Our Term Deposits have no fees.

  • Forms for Defence Bank Term Deposits can be found below.

    Once you've printed and completed any forms, you may return them to us in one of three ways:


    • By email to: investments@defencebank.com.au
    • By fax to: (03) 8624 4718
    • By post to: Defence Bank, Retail Investments, PO Box 14537, Melbourne VIC 8001

Call 1800 033 139
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