Defence Bank savings account reviews

Defence Bank
Defence Bank's overall rating for savings accounts

(as rated by the Mozo community)

6.7 / 10

based on 58 reviews

Price

Features

Customer service

Convenience

Trust

Featured savings account from Defence Bank

Recent Defence Bank savings account reviews

Defence Bank

Defence Bank Max eSaver savings account review

Overall rating   8 / 10

Great service to Defence

A great bank for Defence members providing fast and easy banking. It is awesome to have a bank tailored to Defence members and it has easily accessible money overseas.

Full review

A great bank for Defence members providing fast and easy banking. It is awesome to have a bank tailored to Defence members and it has easily accessible money overseas.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Tony, New South Wales, reviewed over 2 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   10 / 10

Great rates and great service, with a smile.

Defence bank treats you like a family member. They know who you are and call you by your name , you are not a number to them. The staff are friendly and go out of their way to help you. Amazing bank and amazing people.

Full review

Defence bank treats you like a family member. They know who you are and call you by your name , you are not a number to them. The staff are friendly and go out of their way to help you. Amazing bank and amazing people.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lorraine, Queensland, reviewed over 3 years ago

Defence Bank

Defence Bank savings account review

Overall rating   10 / 10

Excellent

No additional comments at this time. Service of the "Defence Bank" is exceptional.

Full review

No additional comments at this time. Service of the "Defence Bank" is exceptional.

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   9 / 10

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Pieter, Western Australia, reviewed over 3 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   5 / 10

Great customer service

Owing to the placement of the bank - time taken to complete transactions are always increased.

Full review

Owing to the placement of the bank - time taken to complete transactions are always increased.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   2 / 10

    Trust   5 / 10

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Peter, Queensland, reviewed over 3 years ago

Defence Bank

Defence Bank savings account review

Overall rating   9 / 10

Defence Bank

Defence credit union are always friendly and trustworthy. Interest could be a little better.

Full review

Defence credit union are always friendly and trustworthy. Interest could be a little better.

    Price   8 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Liz, New South Wales, reviewed over 3 years ago

Defence Bank

Defence Bank savings account review

Overall rating   9 / 10

Great customer service

Good interest rates, lovely staff, very helpful.

Full review

Good interest rates, lovely staff, very helpful.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lynette, Victoria, reviewed over 3 years ago

Defence Bank

Defence Bank Max eSaver savings account review

Overall rating   10 / 10

a bank I highly recommend

Great bank to be part of

Full review

Great bank to be part of

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Vanessa, New South Wales, reviewed over 3 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   10 / 10

Great

Great for ADF staff

Full review

Great for ADF staff

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Anthony, New South Wales, reviewed over 3 years ago

Defence Bank

Defence Bank savings account review

Overall rating   8 / 10

Fantastic customer service

The staff are extremely helpful, more so as we are travelling and can't easily get to a branch. A simple phone call gets results, and the issue is solved. Would recommend Defence Bank at any time!

Full review

The staff are extremely helpful, more so as we are travelling and can't easily get to a branch. A simple phone call gets results, and the issue is solved. Would recommend Defence Bank at any time!

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   5 / 10

    Trust   10 / 10

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Mike, New South Wales, reviewed over 3 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   9 / 10

Has all the features you want, no bells & whistles

I like that the bank is a not for profit organisation so it is running for the benefit of its members and not shareholders. They understand the military and assist in being flexible where possible.

Full review

I like that the bank is a not for profit organisation so it is running for the benefit of its members and not shareholders. They understand the military and assist in being flexible where possible.

    Price   9 / 10

    Features   2 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   10 / 10

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Carolyn, New South Wales, reviewed over 3 years ago

Defence Bank

Defence Bank Max eSaver savings account review

Overall rating   8 / 10

Fantastic service.

Defence Bank is primarily for defence members but is also available for "civilians". Most branches are on defence establishments, but the staff are always more than happy to help you.

Full review

Defence Bank is primarily for defence members but is also available for "civilians". Most branches are on defence establishments, but the staff are always more than happy to help you.

    Price   6 / 10

    Features   4 / 10

    Customer service   9 / 10

    Convenience   3 / 10

    Trust   10 / 10

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Nathan, Victoria, reviewed almost 4 years ago

Defence Bank

Defence Bank savings account review

Overall rating   6 / 10

Disappointing fees

Tend to not be as competitive in many areas, one of the few banks that charge a fee for entering an incorrect pin number (ATM $0.50, EFTPOS $1.50). Although in fees schedule and meeting required disclosure, many people don't know its there, just...

Full review

Tend to not be as competitive in many areas, one of the few banks that charge a fee for entering an incorrect pin number (ATM $0.50, EFTPOS $1.50). Although in fees schedule and meeting required disclosure, many people don't know its there, just appears as a decline fee on the statement.

    Price   6 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   5 / 10

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Col, South Australia, reviewed over 4 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   8 / 10

Competitive, supportive and convenient

I have been very satisfied with my banking at Defence Bank and have found them to be competitive, helpful and convenient. They understand Defence and work with their members to reach a common goal.

Full review

I have been very satisfied with my banking at Defence Bank and have found them to be competitive, helpful and convenient. They understand Defence and work with their members to reach a common goal.

    Price   9 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   5 / 10

    Trust   8 / 10

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Ellen, New South Wales, reviewed almost 5 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   2 / 10

Uncompetitive with poor interest rates

The interest rates on the savings account is very low compared to other banks. The Internet banking site is complex and difficult to use. The customer service is not the best and simple activities may take longer to process than at other...

Full review

The interest rates on the savings account is very low compared to other banks. The Internet banking site is complex and difficult to use. The customer service is not the best and simple activities may take longer to process than at other banks. Good for defence members as it is situated on base and has some useful products just for defence members such as barracks insurance.

    Price   4 / 10

    Features   4 / 10

    Customer service   3 / 10

    Convenience   2 / 10

    Trust   10 / 10

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Rachael , New South Wales, reviewed about 5 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   10 / 10

Excellent customer service and great intiatives

Defence Bank at RAAF Base Pearce has staff who are very conciuous of providing the best service possible to their customers. They even have the intitiative to offer improvements to existing bank accounts as well as offering best options for...

Full review

Defence Bank at RAAF Base Pearce has staff who are very conciuous of providing the best service possible to their customers. They even have the intitiative to offer improvements to existing bank accounts as well as offering best options for overseas travel. Their demeanour is friendly and very courteous. Additionally their help line in Melbourne is just as courteous when having to use that service too.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Paul, Western Australia, reviewed about 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   4 / 10

Competitive

I am moving away from this bank because it changed from a credit union to its now bank status, it also has no branches in Tasmania.

Full review

I am moving away from this bank because it changed from a credit union to its now bank status, it also has no branches in Tasmania.

    Price   5 / 10

    Features   6 / 10

    Customer service   1 / 10

    Convenience   1 / 10

    Trust   5 / 10

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Name not supplied, Tasmania, reviewed about 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   4 / 10

Great customer service and accessability,high fees

There are a lot of fees involved with a bank account with this bank, some of which seem unnecessary, and relatively uncompetitive. However the customer service has always been friendly and helpful. Accessing the bank either through branches or...

Full review

There are a lot of fees involved with a bank account with this bank, some of which seem unnecessary, and relatively uncompetitive. However the customer service has always been friendly and helpful. Accessing the bank either through branches or online has also always been easy and straight forward.

    Price   2 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   5 / 10

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Name not supplied, Queensland, reviewed about 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   2 / 10

Fees are astronomical; beyond a joke.

Does not look after their customers. Computer says, 'NO'; Enough said. Just like the 'Big 4'.

Full review

Does not look after their customers. Computer says, 'NO'; Enough said. Just like the 'Big 4'.

    Price   2 / 10

    Features   3 / 10

    Customer service   2 / 10

    Convenience   3 / 10

    Trust   2 / 10

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Name not supplied, Victoria, reviewed over 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   5 / 10

Easy to use online

Branches are on Defence bases not all ways easy to access due to security.

Full review

Branches are on Defence bases not all ways easy to access due to security.

    Price   5 / 10

    Features   5 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   5 / 10

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Name not supplied, New South Wales, reviewed over 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   8 / 10

Defence Bank a secure bank used by Armed Forces.

A: All account types are available W: Welcomes you E: Easy over the phone help S: Simple step by step internet O: Overall banking needs looked at M: Mortgages, personnel loans and all insurance needs provided E: Easy to set up direct...

Full review

A: All account types are available W: Welcomes you E: Easy over the phone help S: Simple step by step internet O: Overall banking needs looked at M: Mortgages, personnel loans and all insurance needs provided E: Easy to set up direct debits with no fees and statements showing all transactions in an easy format

    Features   7 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   10 / 10

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Rosalie, Victoria, reviewed over 5 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   10 / 10

The best bank on the market

Every transaction I have had with this bank has been very satisfactory. They are on the ball at all times. Very quick to note if something does not seem correct. After selling my house they invested my money extremely well. Online banking is...

Full review

Every transaction I have had with this bank has been very satisfactory. They are on the ball at all times. Very quick to note if something does not seem correct. After selling my house they invested my money extremely well. Online banking is straight forward and very easy to follow especially for me as I am not computer savvy. Never had a problem with this bank in over 20 years. Their staff are always friendly, which makes banking a pleasure.

    Price   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lynette, Australian Capital Territory, reviewed over 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   0 / 10

Treats customers like fools!

I have been with the Australian Defence Force for 7 years. I joined Defence Bank (Formerly DefCredit) when I joined. This bank charges fees for anything you do!! Eftpos transactions, ATM withdrawals etc... I recently enquired about a home...

Full review

I have been with the Australian Defence Force for 7 years. I joined Defence Bank (Formerly DefCredit) when I joined. This bank charges fees for anything you do!! Eftpos transactions, ATM withdrawals etc... I recently enquired about a home loan and was after some further information about a package. Whoever I spoke to had no idea what she was doing and could not give me any further information other than what was on the website. When I asked to speak to someone else she told me that she handled all home loan applications.....what a joke!! Do not join this bank, you will regret it!

    Price   2 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Adam, Victoria, reviewed over 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   2 / 10

Defence Bank by name, turn coates by nature.

When i joined the army,i was introduced to Defence Bank. I banked proudly with them during and after my service. However, it didn't take me long to realise that Defence Bank only supported current serving members for my loyalty was not returned...

Full review

When i joined the army,i was introduced to Defence Bank. I banked proudly with them during and after my service. However, it didn't take me long to realise that Defence Bank only supported current serving members for my loyalty was not returned after i discharged. I hit hard times but i met my financial obligations however Defence Bank turned their back on me and i nearly lost my new family car. If not for St George and Westpac, I would have been over run,so to speak. Thank you St George and Westpac for defending me when i needed it the most.

    Price   8 / 10

    Features   8 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   3 / 10

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Paul, Victoria, reviewed over 6 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   4 / 10

High fees and poor customer service

No overly impressed with this bank/credit union. I have been with them for 15 years now and all they seem to do is raise there fees and charges. It is definitely a sure fire way to drive all you customers away. Why would we stay with a credit...

Full review

No overly impressed with this bank/credit union. I have been with them for 15 years now and all they seem to do is raise there fees and charges. It is definitely a sure fire way to drive all you customers away. Why would we stay with a credit union that raises its fee when we can go to a bank that lowers there fee and has awesome customer service that goes with it. I will be closing my account with this credit union within the next 6 months.

    Price   4 / 10

    Features   3 / 10

    Customer service   4 / 10

    Convenience   2 / 10

    Trust   3 / 10

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Natalie, Northern Territory, reviewed over 6 years ago

Defence Bank

Defence Bank Max eSaver savings account review

Overall rating   9 / 10

Easy to manage, great customer service

Easy to manage, great customer service

Full review

Easy to manage, great customer service

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Peter, New South Wales, reviewed over 6 years ago

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Savings account comparisons on Mozo - rates updated daily

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    AMP Saver Account

    AMP Saver Account

    • Competitive interest rates, calculated daily and paid monthly
    • A bonus interest rate of 0.45% per annum for the first four months
    • No Monthly fees

    special rate*

    2.55% p.a. (for $0 to $5,000,000)

    bonus rate for 4 months

    standard interest rate

    2.10% p.a.(for $0 to $5,000,000)

    account fee per month

    $0.00

    Go to site

    More info

    • Competitive interest rates, calculated daily and paid monthly
    • A bonus interest rate of 0.45% per annum for the first four months
    • No Monthly fees
    • Special rate conditions: Bonus rate for the first 4 months from account opening
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions:
    Overall rating

    7.3

    Based on 72 AMP savings account reviews

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  • HSBC Serious Saver

    HSBC Serious Saver

    • No monthly fees
    • No minimum deposit
    • Apply online in under 10 minutes

    special rate*

    3.10% p.a. (for $0 to $1,000,000)

    No withdrawals in the month. Bonus rate for first 4 months, reverting to 1.40% bonus rate after

    standard interest rate

    0% p.a.(for $0 and over)

    account fee per month

    $0.00

    Go to site

    More info

    • No monthly fees
    • No minimum deposit
    • Apply online in under 10 minutes
    • Special rate conditions: No withdrawals in the month. Bonus rate for first 4 months, reverting to 1.40% bonus rate after
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions:
    Overall rating

    7.5

    Based on 320 HSBC savings account reviews

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  • MyState Bank Bonus Saver Account

    MyState Bank Bonus Saver Account

    • No monthly account keeping fees
    • Deposits up to $250,000 per customer are guaranteed by the Australian Government
    • Enjoy bonus interest when you deposit $20 or more in to your Bonus Saver Account and make 5 or more eligible VISA Debit card transactions from your linked account each month

    special rate*

    2.60% p.a. (for $0 to $150,000)

    Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

    standard interest rate

    0.80% p.a.(for $0 and over)

    account fee per month

    $0.00

    Go to site

    More info

    • No monthly account keeping fees
    • Deposits up to $250,000 per customer are guaranteed by the Australian Government
    • Enjoy bonus interest when you deposit $20 or more in to your Bonus Saver Account and make 5 or more eligible VISA Debit card transactions from your linked account each month
    • Special rate conditions: Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.
    • Access: BPay, Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account
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    7.7

    Based on 178 MyState Bank savings account reviews

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  • MOZO EXPERTS CHOICE AWARDS 2018

    UBank USaver with Ultra Transaction Account

    UBank USaver with Ultra Transaction Account

    • Bonus interest. Conditions apply
    • Visa Debit Card with Visa PayWave
    • No monthly account keeping fees

    special rate*

    2.87% p.a. (for $0 to $200,000)

    Bonus interest only applies on funds held in linked USaver account if $200 deposited into either account in the month from an external source.

    standard interest rate

    1.81% p.a.(for $0 to $5,000,000)

    account fee per month

    $0.00

    Go to site

    More info

    • Bonus interest. Conditions apply
    • Visa Debit Card with Visa PayWave
    • No monthly account keeping fees
    • Special rate conditions: Bonus interest only applies on funds held in linked USaver account if $200 deposited into either account in the previous month from an external source and the combined balance is less than $200,000.
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
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    8.5

    Based on 670 UBank savings account reviews

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  • RaboDirect High Interest Savings Account

    RaboDirect High Interest Savings Account

    • Easy set up, online and mobile banking app
    • No fees, no minimum balance, no minimum monthly deposit and no minimum term
    • Kick start your savings with the 4 month introductory variable rate

    special rate*

    3.05% p.a. (for $0 to $250,000)

    Bonus rate for the first 4 months from account opening

    standard interest rate

    1.80% p.a.(for $0 to $250,000)

    account fee per month

    $0.00

    Go to site

    More info

    • Easy set up, online and mobile banking app
    • No fees, no minimum balance, no minimum monthly deposit and no minimum term
    • Kick start your savings with the 4 month introductory variable rate
    • Special rate conditions: Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.
    • Access: Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account
    Overall rating

    8.4

    Based on 239 RaboDirect savings account reviews

    Need more information?
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