Defence Bank Limited
Salute Account
Defence Bank Limited · trans and savings accounts
Provider last updated this product 2026-05-20.
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You'll complete your application on
Defence Bank Limited's website. Confirm the rate and fees with them
before applying.
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.
Deposit rates
| Type | Rate | Term | Calculated | Applies to | Conditions | Interest |
|---|---|---|---|---|---|---|
| BONUS | 5.50% | - | daily | - | Bonus rate is the total rate payable for the first 12 months. | calculated daily, paid monthly |
| Bonus rate is the total rate payable for the first 12 months. | ||||||
| VARIABLE | 3.75% | - | daily | - | Base variable rate. Account balances above $250,000. The variable rate after 12 months. | calculated daily, paid monthly |
| Base variable rate. Account balances above $250,000. The variable rate after 12 months. | ||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| BPAY | EVENT | $0 | We don't charge a fee for BPAY |
| Same day transfers (via Swift/RTGS) - Inward | EVENT | $6.80 | Charged when funds transferred via Swift/RTGS (same day). |
| Same day transfers (via Swift/RTGS) - Outward | EVENT | $11.80 | Charged when funds transferred via Swift/RTGS (same day). |
| Record search fee | EVENT | $50 | Charged where you request we search our records and retrieve documents. |
| Dormant fee | EVENT | $20 | This fee may be charged in certain circumstances when your membership is redeemed by us due to non-activity of more than 12 months. |
| Ultimate Package annual fee | PERIODIC | $96 | Package related to a home loan Ultimate Package. |
| Dishonours (if insufficient funds) | EVENT | $0 | We don't charge a fee for dishonours |
| EFTPOS transactions | EVENT | $0 | We don't charge a fee for EFTPOS transactions |
| PayTo | EVENT | $0 | We don't charge a fee for PayTo |
| Internal transfers between Defence Bank accounts | EVENT | $0 | We don't charge a fee for Internal transfers between Defence Bank accounts |
| Monthly account-keeping fee | PERIODIC | $0 | We don't charge a monthly account-keeping fee |
| Pay anyone using a BSB and account or PayID | EVENT | $0 | We don't charge a fee for Pay anyone using a BSB and account number or PAYID |
Rate history
The figures behind this chart
| From | Until | Rate |
|---|---|---|
| 2026-07-15 | 2026-09-30 (current) | 5.50% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
- PayTo
- Rewards your service milestones
Who can apply
- otherAvailable to ADF members who are within 12 Months either side of milestones.
- otherProduct available only for members who meet a recognised ADF milestone.
- other$1500 per month into your Everyday Access account.
- employment statusOur Salute account rewards those who have been deployed, have reached 15 and 25 years of service or have transitioned out with bonus interest for 12 months.
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-05-20T00:00:00.000+10:00 · Product ID: 119