Compare Defence Bank savings accounts
Compare Defence Bank's savings accounts, everyday accounts and term deposits, and see how to join and get in touch.
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Defence Bank has served Australian Defence Force members since 1975, but membership is open to all Australians. It's a member-owned bank with branches around the country, many of them on Defence bases. You can use it for a home loan, your everyday banking and your savings.
Defence Bank savings accounts, bank accounts and term deposits
Defence Bank savings accounts
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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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Defence Bank bank accounts
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We assess multiple product features for transaction accounts from over 100 providers and assign each product a score out of 10.
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Defence Bank term deposits
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Finder Score for term deposits
Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
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What are the pros and cons of banking with Defence Bank?
Pros
- App and online banking, with PayID and round-ups to savings
- Member-owned, with profits reinvested in the bank
Cons
- Smaller branch network, which may not suit you if you prefer banking in person
- Many branches are on Defence bases, so you may need to call ahead before you visit
How to apply for Defence Bank savings account
Applying online for a new bank account is fast and easy. You'll need identity documents such as your driving licence or passport. For more about the process, check out our full guide to opening an account online.
If you're not a Defence Bank member yet, you join and open your accounts in the same online set-up. Existing members can open a new account in the Defence Bank app, in Online Banking or by calling 1800 033 139.
Defence Bank app and contact details
The Defence Bank Mobile app is available on the App Store and Google Play. Its features include:
- PayID. Get paid in real time to your mobile number or email address.
- Round-ups. Round up card purchases and send the difference to a nominated savings account.
- Look Who's Charging. See who you've paid and where, in the app and on your eStatements.
You can call Defence Bank on 1800 033 139 (Monday to Friday, 8am to 6pm AET) or +61 3 8624 5888 from overseas. You can also send a secure message in the app or Online Banking, use the contact form on its website or visit a branch.
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