Choose a term that suits you and have your chosen amount ready (minimum $2,000).
If you're an exisitng Defence Bank member, simply log in to Online Banking and set up your term deposit in under five minutes.
You have seven days grace period to decide whether you want to withdraw your funds or reinvest them.
If you do nothing by the end of your grace period, your funds will automatically reinvest for the same term, at the rate applicable at the time of maturity.
Please read all of our rates and fees carefully before opening an account.
For all product rates, see our rates schedules.
For all product fees, see our fees and charges schedules.
If you require any assistance or have questions regarding our rates and fees please contact us.
For amounts over $1 million, please contact us to discuss your options.
| $2,000.00 to $1,000,000.00. | Interest rate. |
|---|---|
| 1 month. | 1.35% p.a. |
| 2 months. | 1.35% p.a. |
| 3 months. | 4.00% p.a. |
| 4 months. | 3.60% p.a. |
| 5 months. | 3.70% p.a. |
| 6 months. | 4.20% p.a. |
| 9 Months. | 4.25% p.a. |
| 12 months. | 4.45% p.a. |
| 24 months. | 3.75% p.a. |
If you're an existing Defence Bank member, welcome back! Talk to us about a business term deposit today.
New to the bank? In that case, we'll just need a few details and you'll be on your way.
Business term deposits are exclusive to: sole traders, corporates (including corporate trustees), individual trustees, partnerships, incorporated associations (not-for-profits organisations and clubs).
Gross rate of interest before deduction of government earnings tax.
Interest is calculated on the daily balance. Interest is paid on the date of maturity. Where terms exceed 12 months, interest is capitalised annually. Interest payable in respect of the last 12 months or part thereof is added to the balance at maturity.
Unless advised otherwise, the interest earned on your term deposit will be re-invested with your principal deposit. If the same term is no longer available, then the re-investment will be for the standard term closest to the original term.
Any requests for variations to the terms of your Term Deposit received after the grace period has expired, may incur a pre-payment adjustment (a loss of interest) and a fee - refer to our Defence Bank Product and Services – Conditions of Use for more details.
Our term deposits are part of the Government Deposit Guarantee (Financial Claims Scheme).
We may change our fees and charges and interest rates from time to time. For more details on our fees and charges, refer to the Fees and Charges Schedule. For more details on interest rates, refer to the relevant interest rate schedule.
We also publish a brochure - ‘Tips on Reducing your Banking Fees with Defence Bank’ - which can be obtained via defencebank.com.au, by visiting your local branch or calling 1800 033 139.
All products except foreign currency facilities and insurance are issued by Defence Bank. Before acquiring a product, Defence Bank recommends you read the relevant terms and conditions relevant to the product, All documents are located here.
Any advice contained on this website is general advice only and does not take into account your needs, objectives or your financial situation.
Defence Bank’s Target Market Determination can be viewed here.
For personal accounts, our minimum term deposit is $1,000, and there is no maximum amount you can get started with.
Learn more about our term deposits.
For business accounts, our minimum term deposit is $2,000, and there is no maximum amount you can get started with.
While interest rates for new term deposits may change during your term, this will never affect a deposit that is part way through its term. That rate is locked in for the agreed amount of months.
Currently only an individual account holder (an account in the name of one person only) can make changes to term deposit renewal instructions via online banking.
Joint account holders cannot change the account to redeem in online banking, however, they can view the renewal information.
A signatory to the account can view the account in online banking, but cannot see the renewal instructions nor make changes in online banking.
Power of Attorney (POA) holders can view the renewal information, but, cannot make any changes in online banking.
