Compare Australian Military Bank savings accounts

No matter what stage of your career, Australian Military Bank could have the right savings products to help see you through it.

Australia’s Defence Personnel and their families can bank with confidence with Australian Military Bank. In service since 1959, this member owned financial institution provides an array of products that charge low fees but pay competitive interest rates. Plus with a team of mobile bankers available across the country, you can set up your accounts over tea and biscuits.

Rates last updated December 19th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Australian Military Bank Military Rewards Account
Visa
$0
$2,000
Designed to reward you and the Defence community. Get 1% cash back on Visa Paywave purchases under $100 (conditions apply).
Australian Military Bank Access Account
Visa
$0
$0
An everyday bank account with unlimited electronic transactions.
Australian Military Bank Recruit Salary Saver Account
Visa
$0
$1,500
A simple everyday transaction account that earns interest.
Australian Military Bank Pension Access Account
Visa
$0
$0
A deeming access account designed for those aged 55 and over.
Australian Military Bank Mess Account
Visa
$0
$0
Designed specifically for the ADF and helps Defence related clubs, canteens and messes.

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Rates last updated December 19th, 2018
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Australian Military Bank Star Saver Direct
0.10%
0.10%
0.00%
$0
$0 / $0
Ongoing, variable 0.10% p.a.. Available on balance $2,000 or above.
Australian Military Bank Online Saver
2.55%
0.27%
2.28%
$0
$0 / $0
At-call access to your savings and be rewarded with bonus interest when you maintain a balance.
Australian Military Bank DIY Super Saver Account
2.20%
2.20%
0.00%
$0
$0 / $0
Ongoing, variable 2.20% p.a.. Available on the entire balance.
Australian Military Bank Christmas Club
1.50%
1.50%
0.00%
$0
$0 / $0
Ongoing, variable 1.50% p.a.. Available on the entire balance.
Australian Military Bank Cash Management
1.65%
1.65%
0.00%
$0
$5,000 / $5,000
Ongoing, variable 1.65% p.a.. Available on balance $100,000 or more


Australian Military Bank Junior Saver Account
1.50%
1.50%
$0
$0 / $0
Ongoing, variable 1.50% p.a.. Available on balance $1,000 or more

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Rates last updated December 19th, 2018
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. Min Deposit Interest Earned
Australian Military Bank Investment Plus
2.25%
2.25%
2.35%
2.45%
2.60%
2.80%
$1,000
Australian Military Bank Income Plus
2.25%
2.25%
2.35%
2.45%
-
-
$1,000
Australian Military Bank Teen Plus Term Deposit
2.25%
2.25%
2.35%
2.45%
2.60%
2.80%
$500

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Rates last updated December 19th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Australian Military Bank Military Rewards Account
Visa
$0
$2,000
Designed to reward you and the Defence community. Get 1% cash back on Visa Paywave purchases under $100 (conditions apply).
Australian Military Bank Access Account
Visa
$0
$0
An everyday bank account with unlimited electronic transactions.
Australian Military Bank Recruit Salary Saver Account
Visa
$0
$1,500
A simple everyday transaction account that earns interest.
Australian Military Bank Pension Access Account
Visa
$0
$0
A deeming access account designed for those aged 55 and over.
Australian Military Bank Mess Account
Visa
$0
$0
Designed specifically for the ADF and helps Defence related clubs, canteens and messes.

Compare up to 4 providers

Rates last updated December 19th, 2018
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Australian Military Bank Star Saver Direct
0.10%
0.10%
0.00%
$0
$0 / $0
Ongoing, variable 0.10% p.a.. Available on balance $2,000 or above.
Australian Military Bank Online Saver
2.55%
0.27%
2.28%
$0
$0 / $0
At-call access to your savings and be rewarded with bonus interest when you maintain a balance.
Australian Military Bank DIY Super Saver Account
2.20%
2.20%
0.00%
$0
$0 / $0
Ongoing, variable 2.20% p.a.. Available on the entire balance.
Australian Military Bank Christmas Club
1.50%
1.50%
0.00%
$0
$0 / $0
Ongoing, variable 1.50% p.a.. Available on the entire balance.
Australian Military Bank Cash Management
1.65%
1.65%
0.00%
$0
$5,000 / $5,000
Ongoing, variable 1.65% p.a.. Available on balance $100,000 or more


Australian Military Bank Junior Saver Account
1.50%
1.50%
$0
$0 / $0
Ongoing, variable 1.50% p.a.. Available on balance $1,000 or more

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Rates last updated December 19th, 2018
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. Min Deposit Interest Earned
Australian Military Bank Investment Plus
2.25%
2.25%
2.35%
2.45%
2.60%
2.80%
$1,000
Australian Military Bank Income Plus
2.25%
2.25%
2.35%
2.45%
-
-
$1,000
Australian Military Bank Teen Plus Term Deposit
2.25%
2.25%
2.35%
2.45%
2.60%
2.80%
$500

Compare up to 4 providers

Rates last updated December 19th, 2018
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
HSBC Serious Saver
3.10%
1.40%
1.70%
$0
$0 / $0
Introductory rate of 3.10% p.a. for 4 months, reverting to a rate of 1.40% p.a. Available on balances below $1,000,000.
Bank of Queensland Fast Track Saver Account
2.80%
0.50%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you link to an BOQ Day2Day Plus Account and deposit $1,000+ into the Day2Day account each month from an external account. Available on balances up to $250,000.
Bankwest Hero Saver
2.60%
0.01%
2.59%
$0
$0 / $0
Ongoing, variable 2.60% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
ING Savings Maximiser
2.80%
1.00%
1.80%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month and make 5+ card purchases a month. Available on balances up to $100,000.
AMP Saver Account
2.55%
2.10%
0.45%
$0
$0 / $0
Introductory rate of 2.55% p.a. for 4 months, reverting to a rate of 2.10% p.a. Available on balances below $5,000,000.
HSBC Flexi Saver Account
2.50%
1.25%
1.25%
$0
$0 / $0
Ongoing, variable 2.50% p.a. when you deposit $300+ each month (other conditions apply). Available on balances up to $5,000,000.
AMP SuperEdge Saver Account
2.05%
2.05%
0.00%
$0
$0 / $0
Link to your SMSF. Ongoing, variable 2.05% p.a. when you link to AMP SuperEdge Cash Account or a different transaction account for your SMSF in another bank. Available on the entire balance.
CUA eSaver Boost Account
2.75%
0.25%
2.50%
$0
$1 / $1
Ongoing, variable 2.75% p.a. when you make a total deposit of at least $250 and no withdrawals in a calendar month. Available on balances up to $500,000.
MyState Bank Bonus Saver Account
2.60%
0.80%
1.80%
$0
$0 / $0
Ongoing, variable 2.60% p.a. when you deposit at least $20 into the account each month and make five or more Visa Debit card transactions from a linked MyState transaction account.
AMP Bett3r Account
2.25%
1.50%
0.75%
$5
$0 / $0
With AMP's bundled Bett3r account, get three linked Pay, Spend and Save accounts. Earn a competitive, ongoing rate of up to 2.25% on your Save account balance when you deposit $2,000 into the Pay account each month from a source that is not another AMP Bank account.

Please note: The 2.25% maximum variable rate is earned only on your Save account balance. To calculate interest earned, enter your initial and monthly deposit amounts for the Save account only, not including any money that’ll be in your Spend or Pay account.

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Who is Australian Military Bank (ADCU)?

When you choose Australian Military Bank, you are giving your money the chance to grow along with your career. From special accounts for new recruits to transact from, to high interest saving products that build your retirement funds, each stage is covered. You will find that interest rates are competitive with larger banks, while monthly and transaction fees are kept at a minimum.

What’s internet banking like for Australian Military Bank?

Australian Military Bank offers members a number of ways to access their accounts, including a comprehensive online banking facility. They have also added a mobile app which can be downloaded from the Google Play Store or the App Store. By implementing the latest in online banking and mobile payment technology, both provide you with a secure and convenient way to bank from anywhere in the world.

Once you have set up you online banking platform with Australian Military Bank you can begin making a number of transactions from your mobile device or personal computer using an array of features.

Notable features include:

  • View your account balances
  • Register a debit or credit card lost or stolen
  • Pay your bills using BPAY
  • Retrieve a transaction history
  • Find an ATM or branch
  • Make payments use Pay Anyone
  • Make transfers between your accounts
  • Use the Tap and Pay function for purchases under $100 with the app downloaded on your Android device

What about the mobile app?

Image Source: App Store
Login page Activate card Transfer and overseas transfers Locating the near ATM
login-amb activate-card transfer find-atm
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What transaction accounts are offered by Australian Military Bank?

  • Military Rewards Account. Get 2% back on your purchases made using Visa payWave with this rewards transaction account. You can also avoid any monthly service fee by meeting a minimum deposit amount each month.
  • Access Account. A no-frills and no fees everyday account that allows for unlimited electronic transactions with no minimum balance requirement. You can also choose a linked Visa debit card to help in making your daily purchases and cash withdrawals.
  • Recruit Salary Saver Account. Especially designed for new Defence Force recruits, this everyday account also pays you interest on your balance each month at a competitive rate. Your monthly service fee can be waived by meeting a minimum deposit requirement and you can take advantage of a number of transaction methods free of charge.
  • Deeming Access Account. For service members who have reached the age of 55 and claiming a government pension, this account pays tiered interest on your balance according to the government deeming rates.
  • Mess Account. An easy to manage business oriented account meant for messes, military canteens and Defence related clubs that need a secure way to accept and make payments.

What high interest savings accounts are offered by Australian Military Bank?

  • Star Saver Direct. Earn a competitive interest rate with an account that limits your access to online and phone banking. There is no minimum balance requirement to meet, and you will not be charged a monthly account keeping fee.
  • Online Saver. An exclusively online savings account, you can earn bonus interest in addition to the base rate by maintaining a minimum balance without making any withdrawals.
  • DIY Super Saver Account. Specially designed to help you manage your DIY Super, your investment money can still earn a competitive interest rate while you wait for a new opportunity to come up. Access is limited to online and branch banking.
  • Christmas Club. Save a portion of your salary throughout the entire year to take the stress out of holiday shopping. Your Christmas spending money will even get a boost with the earned interest that is added to the account when the funds become available in November.
  • Cash Management. For those who have a minimum amount of $5,000 to save, but still want to be able to access it. This account pays a competitive tiered rate of interest, and limits your access to branch, phone and online banking.
  • Junior Saver. Designed for kids under the age of 17, this account is free of any fees and pays a competitive interest rate on the entire balance. Interest is calculated daily, and will be paid into the account quarterly so that kids can earn a little more from compound interest.

What term deposits are offered by Australian Military Bank?

  • Investment Plus. By investing a minimum of $1,000 you can take advantage of a guaranteed return from fixed interest rate. You choose the length of time to lock your money into the account, and receive your interest payments once a year and at maturity.
  • Income Plus. For a slightly lower interest rate you can get all of the same benefits and features of a fixed rate term deposit, except use the earned interest as a form of income with payments made into a nominated account once a month.
  • Teen Plus Term Deposit. Kids can earn interest at a higher rate as you, with a deposit that can be as low as $500 to start building towards their future.
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What are the pros and cons of banking with Australian Military Bank?

Pros

  • Monthly fees. With Australian Military Bank you are given many opportunities to bank and save without having to pay a monthly fee.
  • Banking app. The secure banking app offered by Australian Military Bank provides you with a on the go ease in your everyday transactions.
  • Mobile bankers. While branch access may be limited, you can still speak face to face with a mobile banker who will travel to you.
  • Visa debit card. With access to a Visa debit card you are able to make withdrawals and purchases wherever Visa is accepted.

Cons

  • Limited accessibility. This credit union is employment specific, catering to the needs of those in the Australian Defence Force.
  • Minimum balance requirements. With a number of accounts you are required to maintain a minimum balance in order to receive all of the benefits.
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How do I apply for an Australian Military Bank account?

Even if you are not yet a member of the Australian Military Bank you can become one as you fill out an online application for one of their accounts. The minimum age required to complete an online application is 18, and you must be a citizen or permanent resident of Australia. This holds true for both applicants if you are opening a joint account. When applying you are going to need your current driver’s licence, Medicare card and your tax file number. Once completed and submitted, the details will be sent to the Direct Service Team who will provide you with a reference number if you have any questions.

Savings Account Offers

Important Information*
ING Savings Maximiser

Maximum Variable Rate

2.80

Standard Variable Rate

1.00
AMP Saver Account

Maximum Variable Rate

2.55

Standard Variable Rate

2.10
Bankwest Hero Saver

Maximum Variable Rate

2.60

Standard Variable Rate

0.01
HSBC Serious Saver

Maximum Variable Rate

3.10

Standard Variable Rate

1.40

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