Defence Bank LimitedTeen Saver
An everyday savings account for those aged 12-17 years with growing financial independence in mind.
At a glance
- Base rate
- 5.25%
Rates
The one rate Defence Bank Limited publishes for this account.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableInterest is calculated daily on the closing balance and credited on 31 March each year. | - | - | - | 5.25% | - | paid every 1 yr |
Rate changes
One change logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 15 Oct 2026 | Variable | 5.00% | 5.25% | 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
21 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 happen19
- Bank@Post (withdrawals and deposits)
We don't charge a fee for Bank@Post (withdrawals and deposits)
No fee - Bank@Post™
For each cheque deposited through the Bank@Post system and subsequently dishonoured.
$21.72 - BPAY
We don't charge a fee for BPAY
No fee - Defence Bank ATM cash withdrawals or balance enquiries
We don't charge a fee for Defence Bank ATM cash withdrawals or balance enquiries
No fee - Dishonours (if insufficient funds)
We don't charge a fee for dishonours
No fee - Domestic ATM cash withdrawals or balance enquiries
Free withdrawals and balance enquires at Major Banks and ATMx, (all other ATMs may charge a direct charge)
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 - Emergency card replacement
When you request that we replace your Visa card while you are overseas.
No fee - Emergency cash
When you request emergency cash while overseas other than through an ATM. The maximum amount of emergency cash available is $1,000 (at our discretion).
No fee - Internal transfers between Defence Bank accounts
We don't charge a fee for Internal transfers between Defence Bank accounts
No fee - Overseas ATM cash withdrawals or balance enquiries fee
We don't charge a fee Overseas ATM Cash withdrawals or balance enquiries
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 - Replacement Visa card within Australia
We don't charge a fee for Replacement Visa card within Australia
No fee - 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 - Visa foreign currency conversion fee
The fee we charge when you make a payment or a deposit or obtain a cash advance overseas.
3.00% of transaction
Features
- Higher rate of return
- Lock & Block
- Bank@Post
- PayTo
Eligibility and limits
- Minimum age 12
- Maximum age 17
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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.