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Australian Military Bank Recruit Salary Saver Account

New Australian Defence Force recruits can benefit by opening this everyday banking account that offers interest too.

You qualify for the Australian Defence Bank Recruit Salary Saver Account if you apply for it within four months of marching in as a new Australian Defence Force (ADF) recruit. This account lets your money earn competitive interest. It gives you access to your money in different ways. By meeting a simple depository criterion you don’t have to pay any monthly account keeping fees.

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Fee Free Deposit


Account keeping fee


ATM withdrawal fee


Overseas ATM withdrawal fee

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Product NameAustralian Military Bank Recruit Salary Saver Account
Monthly account fee$4
Card accessVisa
ATM Withdrawal Fee$0
International ATM Fee$4.50
International transaction fee2.95%
Monthly deposit required to waive account fee$1,500
Contactless PaymentsGoogle Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Review by

Alison Banney is the banking and superannuation editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This account is for new Defence Force recruits only, and is designed to give new recruits a bit of a financial helping hand. It’s a transaction account that also pays 1.05% interest on your balance for the first four months. Earning interest on a transaction account that offers 24/7 access to your money with a linked Visa Debit Card is really rare.

Note that there is a $4 monthly account fee, but this is waived if you deposit $1,500 a month.

If you’re not a new recruit, you can take a look at the Military Rewards Accountinstead. This doesn’t pay any interest, but you do earn 1% cashback on tap and go purchases under $100, up to the value of $25 a month.

Key features


The money in your Recruit Salary Saver Account earns 1.05% p.a. interest. The bank calculates interest on your everyday balance and pays it monthly.

Visa debit card

This account comes with a linked Visa debit card that you can use to transact the world over, at ATMs and EFTPOS terminals alike. All you have to do is look for the Visa logo. You can use your card to make fee-free withdrawals from rediATMs across Australia. You can also use your card details to pay bills and make purchases online and over the phone.

How to apply


When you apply for this everyday banking account you agree to become a member of the Australian Military Bank. Applying is easy and you can do so online, over the phone or by visiting any Australian Military Bank branch. To apply you have to meet these eligibility criteria:

    • Minimum age. You should be at least 18 years of age.
    • Residency requirements. You should be an Australian citizen or a permanent resident of this country.

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