Difficult to use. Felt like I was pushed into more Money. Difficult to get to a branch.
Excellent all round. Service exceptional and had the cheque for the car very quickly. Only drawback is the branch near me is on a RAAF base, which is OK for me because I have access to the base but may make it difficult for 'normal' people. However, the cash card provided works in all ATM's that I have tried using it on.
I served in the RAAF for over 20 years. As a convenience I was with Defence bank (Formally DEFCREDIT) because they have a branch on every military base in Australia. They have a captive customer base and they abuse it. They are selfish and do not give a stuff about our serving military personnel.
Just got an amazing rate on my car loan. Customer service was brilliant - even dropped me at the train station after approving the loan. Only downside is availability of branches, however make up for it with wide network of ATMs.
They changed the interest rate on me on the day I got my loan.
They are good, I have been with them for a few years now.
These guys have a great car loan - top rate, all the bells and whistles in terms of features (free redraw, no early payout fees, no monthly fees) and the application process was super easy.
They have a very personal touch to each account and you get to speak to an individual person. They follow everything up and acted very promptly. I would highly recommend them even though any physical bank is on base (I am not part of the ADF even though my boyfriend is, but I became a member in my own right with the Bank (I am a lawyer.) They have been wonderful to deal with and competitive and worth it for the personal individual assistance they provide.
The branch people were great. However, the person who manages the loans online has poor customer service skills and took it upon himself to change the date of my repayments without consent, which is not part of the agreement. He was rude to me on more than one occasion. This was only one person, but it changed my whole banking experience. I have stayed with Defence Bank as the interest rates are competitive for loans.
Great value & no penalties for withdrawing or extra deposits
I like this product as they will help you all the way
Loans with defence bank( previously defcredit) are really convenient and easy to set up for defence members. It's great having a bank that's familiar with the system. These guys got mine approved in 2 days. Fast and easy, not exactly best deal out there, but play them off against adcu and you.ll get a better deal! (I had monthly fees and all setup costs waived)
I hold a car loan, a personal loan, two savings accounts, debit and credit cards, all with Defence Bank because they are unfailingly able to meet the unique needs of defence members and their families. The only negatives are the .50 charge for each debit card usage, unless credit option is used, for which there is often a surcharge (although these are quite small). Also, being a Defence bank, branches are only available on base, which is not always convenient. That being said, I have been 100% happy with internet banking, and 110% happy with customer service, including phone banking...especially the ease with which you can talk to an actual person, not just an automated voice! They are always friendly and helpful, both on the phone and in person. Customer service can be the thing customer satisfaction hinges on. Defence services can at times be notoriously slow, but when it comes to their bank, they beat any civilian bank I have ever used, hands-down! I can't wait to take advantage of their home loan rates and DHOAS (Defence Homeowners Assistance Scheme) for first home buyers, hopefully soon!
I just got my 2nd car loan with this bank and they made sure I got the best possible deal. They even found me better car insurance. They have low administration fees and you are able to pay the loan off faster without being penalised. Excellent customer service too!
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Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 4.67% would cost $34,096.76 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 4.89% would cost $34,377.58 including fees.
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.89% would cost $34,276.58 including fees.
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 5.19% would cost $34,320.13 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.50% would cost $34,632.09 including fees.
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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