Defence Bank LimitedSalute Account
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.
At a glance
- Up to
- 9.75%
- Base rate
- 4.00%
- Bonus rate
- 5.75%
Rates
Every rate Defence Bank Limited publishes for this account, 2 in all.
How the rate is made up
9.75%in a month every condition is met
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| BonusBonus rate is the total rate payable for the first 12 months. | - | - | - | 5.75% | - | paid every 1 mo |
| VariableBase variable rate. Account balances above $250,000. The variable rate after 12 months. | - | - | - | 4.00% | - | paid every 1 mo |
Rate changes
2 changes logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 15 Oct 2026 | Bonus | 5.50% | 5.75% | up 0.25 |
| 15 Oct 2026 | Variable | 3.75% | 4.00% | up 0.25 |
Each change is logged the night it appears in the rates Defence Bank publishes. See how every lender answered the RBA on the rate tracker.
Fees
12 fees published, grouped by when they're charged.
While you hold it2
- Monthly account-keeping fee
We don't charge a monthly account-keeping fee
No fee - Ultimate Package annual fee
Package related to a home loan Ultimate Package.
$96 a year
When particular things happen10
- BPAY
We don't charge a fee for BPAY
No fee - Dishonours (if insufficient funds)
We don't charge a fee for dishonours
No fee - Dormant fee
This fee may be charged in certain circumstances when your membership is redeemed by us due to non-activity of more than 12 months.
$20 - EFTPOS transactions
We don't charge a fee for EFTPOS transactions
No fee - Internal transfers between Defence Bank accounts
We don't charge a fee for Internal transfers between Defence Bank accounts
No fee - Pay anyone using a BSB and account or PayID
We don't charge a fee for Pay anyone using a BSB and account number or PAYID
No fee - PayTo
We don't charge a fee for PayTo
No fee - Record search fee
Charged where you request we search our records and retrieve documents.
$50 - Same day transfers (via Swift/RTGS) - Inward
Charged when funds transferred via Swift/RTGS (same day).
$6.80 - Same day transfers (via Swift/RTGS) - Outward
Charged when funds transferred via Swift/RTGS (same day).
$11.80
Features
- PayTo
- Rewards your service milestones
Eligibility and limits
- Employment: Our 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.
- Available to ADF members who are within 12 Months either side of milestones.
- Product available only for members who meet a recognised ADF milestone.
- $1500 per month into your Everyday Access account.
Compare it with others
Put this product through a calculator
Published by Defence Bank under the Consumer Data Right, last changed by them on 14 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.