Defence Bank iSaver
The online savings account you’ve been hanging out for.
Grow your savings with flexible access to your funds and an introductory bonus fixed Interest rate.
For those who want...
- Bonus introductory fixed savings rate for six months.
- No penalties for withdrawals.
- No monthly account fees.
iSaver Rates Explained
† A limit of one new iSaver account per membership (including joint accounts). iSaver has a bonus introductory fixed rate of which applies to new accounts up to $250,000 for the first 6 months and a ‘base variable rate’ of which applies to all account holders. After six months the introductory bonus fixed rate will expire, and the base variable rate will apply. Does not include funds held or previously held with Defence Bank.
If you're an existing Defence Bank member, welcome back! Opening an iSaver account is fast and easy.
New to the bank? In that case, we'll just need a few details and you'll be on your way.
| Apply Now |
Click here for the latest rates.
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.
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 defencebank.com.au, 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 at https://www.defencebank.com.au/tools-and-advice/legal-and-compliance/disclosure-documents/.
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 at https://www.defencebank.com.au/tools-and-advice/legal-and-compliance/target-market-determinations/
Defence Bank commenced operations in March 1975 as Defence Force Credit Union Limited (Defcredit) before changing its name to Defence Bank in 2012. Today, Defence Bank has the most on-base branches across Australia.
Unlike many other financial institutions, Defence Bank doesn’t exist to make profits for shareholders. We’re here to focus on your financial needs, rather than being driven to make profits for shareholders. We re-invest our profits back into the Bank to make sure we give you the service and competitive products you deserve.
Defence Bank offers financial products and services to not only the Australian Defence Force, but the broader community as well. Defence Bank is one of Australia’s larger member-owned banks.
To view our latest News please visit https://www.defencebank.com.au/about-us/news/.
Even though we’ve traditionally focused on the Australian Defence Force, you don’t have to be a Defence Force employee or relative to take advantage of Defence Bank’s products and services – membership is open to all Australians.
We’re always happy to see our members in person. Our branches can help you with anything from general account information to home loans. If the branch is on a military base, just give the branch a call to let them know you’re coming in so they can escort you.
Definitely. If you’re already a member, to open a new account (including new joint accounts) you can log into your app or online banking and follow the below instructions, or you can give us a call on 1800 033 139. If you’re not yet a member, you can join now and open accounts during the set up process.
App
- Login to your app.
- Under the main menu, select Manage Account and tap Joint Account.
- Select Open Joint Account and follow the prompts.
Online Banking
- Login to online banking.
- Under the main menu, select Products and tap Open Account following the prompts.
You can open as many savings accounts as you like! When it comes to the iSaver however, just remember that you can only have the introductory rate on the first one that you open.
Currently, the bonus savings rate lasts for six months for amounts up to $250,000.00.
Different accounts may have different fee structures depending on how you use them. You can find our full fees and charges schedule below.
Statutory Statement
The issuer of this product is identified at the top of this page. The PDS and target market determination for the product are available in the Documents section of this listing. Prospective investors should consider the PDS before deciding to acquire the product. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets (Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
General Disclaimer
IMPORTANT STATEMENT ABOUT YOUR USE OF THIS SITE
Information on this site is intended for Australian users only.
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