Savings accounts that grow with you.

No matter what your age or career stage, having a pool of savings behind you matters. The key to consistently growing your spare cash is to select the savings account that matches your needs.

Defence Bank makes it easy, with a choice of accounts for different needs that can help you build a savings nest egg every step of the way.

We’ve lined up the options to consider for every life stage, plus ways to put your savings on auto-pilot.

An account to nurture sensible savings habits.

Kids aged newborn to 11 years can get a head start on sensible saving with a Kids Club account.

We help children maximise their savings with $0 monthly account-keeping fees and a higher variable interest rate so they can see the positive impacts of earning interest on their money.

Use the account to help children save pocket money or birthday gifts of cash.

Savings accounts for teens.

Good money habits can be learned from an early stage. That’s exactly the thinking behind our Teen Saver, our savings account for 12-17 year-olds.

The account encourages financial independence during formative years with a generous rate of interest and zero monthly account-keeping fees.

Or check out our Cadet Saver – same high rate of interest, same good value, but designed for cadets aged 12-17.

A savings account with turbo-charged interest.

For those starting their ADF careers, if you’d like to grow your savings with flexible access to your funds and high introductory bonus interest, the iSaver ticks plenty of boxes.

The bonus rate gets your savings off to a good start, and you won’t be penalised for making withdrawals.

A savings account with a bonus intro interest rate.

Max eSaver rewards healthy savings habits, with bonus interest for each month you make a deposit and no withdrawals.

Set up automatic deposits, and time them with your pay days to never miss out on that sweet bonus interest.

A savings account that rewards service.

Our Salute account is unique just like the life of the men and women in the ADF. It is something we’re proud of.

Available to Defence personnel who have been deployed, reached 15 and 25 years of service, or who have transitioned out of the ADF.

With bonus interest for 12 months, the Salute account is our way of saying ‘thank you’ for serving.

A savings account for retirement.

Our Retirement Savings Account (RSA) is a capital guaranteed product for managing your retirement nest egg through every stage of your life.

There is no exposure to the possibility of negative investment returns that may be associated with other superannuation products. You just get the security of a term deposit with the tax advantages of super.

You will need a minimum deposit of $10,000 to get started without RSA. From there, you can make contributions at any time – or ask your employer to make contributions to the RSA on your behalf.

Why not consider a term deposit?

With a choice of terms and rates from 3 months up to 24 months, you can choose to have your money secured with a fixed rate for as little or long as you like when you open a term deposit.

Get started with as little as $1,000 to a maximum of $1 million, a term deposit is a great way to watch your money grow without you having to touch it.

We can help you decide.

Not sure which is the best account to put your money to work? We can help you select the account that’s right for your needs. Call our Contact Centre on 1800 033 139 or visit your local branch to find out more.


Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.

More in this category:
All articles.