In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Australian Military Bank Christmas Club

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Summary

Do you want a bank account that offers interest and lets you save for the holiday season?

The Australian Military Bank Christmas Club Account can help you save money for the holiday season. It limits withdrawals through the year so you can work towards achieving your goals more easily. A direct credit facility simplifies how you add funds to this account. The money in your account earns competitive interest. You don’t have to pay any ongoing account keeping fees.

Pros

  • Competitive interest rate
  • No monthly fees

Cons

  • Restrictions around dates you can withdraw

In this guide

  • Review
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name Australian Military Bank Christmas Club
Maximum Variable Rate 0.25% p.a.
Standard Variable Rate 0.25% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $1
Minimum Age 18

Key features

No minimum balance

There is no minimum balance requirement with this account.

Interest

This Australian Military Bank account offers 0.25% p.a. interest. The bank calculates interest on the minimum monthly balance. The interest credits to your account annually, on 31st October. This is just before you start making withdrawals.

How to apply

Eligibility

If you're not an existing Australian Military Bank member you'll have to become one when you open the Christmas Club Account. Applying for this account is easy and you can do so over the phone, online or by visiting any Australian Military Bank branch. To apply, you have to meet some eligibility criteria:

  • Minimum age. You should be over 18 years of age
  • Residency requirements. You should be an Australian citizen or a permanent resident of Australia.

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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

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Alison Finder

Editorial Manager, Money

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Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

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