Defence Bank Savings Accounts
Compare 6 Defence Bank savings accounts alongside the rest of the market, with the Defence Bank filter already applied. Rates up to 5.75% p.a.
Comparing 6 products
Saving $10,000 over 1 year at the highest shown:
- Top rate
- 5.75% p.a.
- Interest earned
- $590
- Balance after 1 year
- $10,590
Estimate only, based on Defence Bank’s highest advertised rate. Interest is assumed to compound monthly at the max rate for the whole period, including any bonus or intro rate. Bonus rates are paid only in months their conditions are met and intro rates end after a set period, so actual interest can be lower.
| Product | Rate conditions | Actions | |||||
|---|---|---|---|---|---|---|---|
 | Max rate5.75% | Rate conditionswith bonus conditions | Interest earnings$590 | Our Salute savings account rewards Australian Defence Force members who have been deployed, have reached 15 and 25 years of service or have transitioned with bonus interest for 12 months. | |||
| Max rate5.25% | Rate conditionsNo special conditions | Interest earnings$538 | For under-18s | An everyday savings account for those aged 12-17 years with growing financial independence in mind. | ||
| Max rate5.25% | Rate conditionsNo special conditions | Interest earnings$538 | For under-18s | Defence Bank Kids Club savings account is the way to go for those aged 0-11 years. | ||
| Max rate5.25% | Rate conditionsNo special conditions | Interest earnings$538 | For under-18s | Created especially for young cadets aged 12 to 17 years, our Cadet Saver account will have you and your savings looking good. | ||
| Max rate5.25% | Rate conditionswith bonus conditions | Interest earnings$538 | An introductory bonus rate on new accounts for the first six months up to $250,000. | |||
| Max rate5.20% | Rate conditionswhen you deposit monthly with no withdrawals | Interest earnings$533 | Max eSaver is a straightforward, fuss-free bonus savings option that simply does what it says: maximises your savings in an easy online account. | |||
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Important information
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Rates, fees and charges are subject to change without notice. Before acting on any information shown here, you should confirm the rates, fees, charges and product information with the provider. For clarity, where we have used the terms “lowest” or “best”, these relate solely to the rates of interest offered by the provider and not to any other factor. The application of these terms to a particular product is subject to change without notice if the provider changes their rates.
We do not compare every savings accounts available in Australia, and this table does not compare every feature that may be relevant to you. Products are selected for relevance to the table and to the filters applied. They are not suggestions or recommendations, and the order they appear in is not a ranking of suitability. Changing the filters will surface further relevant products. See how we sort and rank products.
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Guides
- Savings Accounts Guide How savings interest is calculated, paid and taxed A savings rate is quoted per year but earned per day, which is why the interest that lands in your account rarely matches the number you expected. Here is the calculation, the tax treatment, and the guarantee that sits behind the balance.
- Savings Accounts Guide Bonus savings rates explained Most high-interest savings accounts in Australia advertise one rate and often pay another. Here is exactly how the conditions work, what it costs when you miss them, and how to choose an account you will actually earn on.
The Numbers Behind These Rates
Where this market sits today, and the official figures behind it.
- Market averages Savings Account Market Averages Today's average savings account rate, by segment, and how it has moved since the last reading. Taken from every product in the feed, not a survey.
- Statistics Average Savings Account Interest Rate in Australia Almost every high-interest savings account advertises one rate and pays another. The tiles below show the gap between the headline rate and the base rate you fall back to, live across the accounts we compare.
- Market averages Term Deposit Market Averages Today's average term deposit rate, by segment, and how it has moved since the last reading. Taken from every product in the feed, not a survey.
- Statistics Average Term Deposit Rates in Australia Term deposit rates are not a single number, they are a curve across terms. The live tiles below show the average and best rate in each term band, which is the fastest way to see where the banks think rates are heading.
- Rate Tracker Every Market, One Page The daily average across home loans, savings, term deposits, credit cards and personal and car loans, measured against the RBA cash rate.