Defence Bank Limited
Salute 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.
Savings & transaction accountsBank updated 20 May 2026
At a glance
- Base rate
- 3.75%
- Bonus rate
- 5.50%
- Up to
- 9.25%
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| BonusBonus rate is the total rate payable for the first 12 months. | — | — | — | 5.50% | — | paid every 1 mo |
| VariableBase variable rate. Account balances above $250,000. The variable rate after 12 months. | — | — | — | 3.75% | — | paid every 1 mo |
§ 02 — Fees · 12
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| BPAY | Event | No fee | — | We don't charge a fee for BPAY |
| Dishonours (if insufficient funds) | Event | No fee | — | We don't charge a fee for dishonours |
| 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. |
| EFTPOS transactions | Event | No fee | — | We don't charge a fee for EFTPOS transactions |
| Internal transfers between Defence Bank accounts | Event | No fee | — | We don't charge a fee for Internal transfers between Defence Bank accounts |
| Pay anyone using a BSB and account or PayID | Event | No fee | — | We don't charge a fee for Pay anyone using a BSB and account number or PAYID |
| PayTo | Event | No fee | — | We don't charge a fee for PayTo |
| Record search fee | Event | $50 | — | Charged where you request we search our records and retrieve documents. |
| 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). |
| Monthly account-keeping fee | Periodic | No fee | — | We don't charge a monthly account-keeping fee |
| Ultimate Package annual fee | Periodic | $96 | Every 1 yr | Package related to a home loan Ultimate Package. |
§ 03 — Features
Instant paymentsPayIDDigital bankingUnlimited transactions
- · PayTo
- · Rewards your service milestones
§ 04 — Eligibility & 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.
§ 05 — Compare
§ 06 — Run the numbers
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Published by Defence Bank under the Consumer Data Right, last changed by them on 20 May 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.