Defence Bank Cadet Saver

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Cadet Saver is a savings account from Defence Bank. It pays 5.25% p.a. with no bonus conditions.

Rate tiers

Every balance band in the bank's feed: base is the rate the bank pays.

One rate on every balance, with no upper limit.

Conditions

• not updated by the bank since 2026-10-14, before the Reserve Bank's cash rate rise of 4 November 2026; check its page, as the rate may have changed
• ages 12 to 17
• open only to cadets aged 12 to 17
• converts to an Everyday Access account at 18

Features

card

Set your own pin

app

yes

Osko

yes

PayID

yes

PayTo

yes

BPAY

yes

notifications

yes

transactions

unlimited

wallets

Compatible with digital wallets from Apple, Garmin, Google and Samsung, Replace lost or stolen cards immediately. Using Quick Cards, Members can order a replacement card within the app and be issued with a virtual card that they can add to their digital wallet and use immediately. This removes the stress and inconvenience of having to wait until the physical card arrives to access funds.

Other features, in the bank's words:

• Lock & Block
• Bank@Post
• PayTo

Fees, limits and who can open it

monthly fee

$0

other fees named

Visa foreign currency conversion fee (no amount in the feed)

interest paid

annually

interest calculated

daily

age

ages 12 to 17

open to

personal customers

age limited

open only to people of certain ages (kids, youth or seniors accounts)

occupation membership

open only to people in certain occupations, or the lender takes members only from them

Who can open it, in the bank's own words:

• age 17 and under
• Created especially for cadets aged 12 to 17 years, our Cadet Saver account will have you and your savings looking good.

About this account

Created especially for young cadets aged 12 to 17 years, our Cadet Saver account will have you and your savings looking good.

Data

• Defence Bank's own page for this account.
• The bank's documents its product record links to: terms and conditions, fees, eligibility.
• Our verbatim snapshot of the bank's product record (source), as fetched on 22 October 2026.
• We read the bank's own page and terms against this page on 1 November 2026: cadet-saver, www.defencebank.com.au, defence-bank-products-and-services-conditions-of-use.pdf, defence-bank-fees-and-charges-schedule.pdf, defence-bank-summary-of-accounts-and-access-facilities.pdf, disclosure-documents; conditions they state and its feed does not are listed above.
• /au/finance/savings-accounts/v1/brands/defence-bank.json: this bank's accounts and every balance band as JSON; Defence Bank's page lists them.
• The bank last updated this record on 14 October 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.

Other accounts at Defence Bank

• iSaver savings account, 0.50% base at $50,000
• Kids Club Savingsstale savings account, 5.25% base at $50,000
• Max E Saverstale savings account, 5.30% conditional at $50,000
• Salute Accountstale savings account, 4.00% base at $50,000
• Teen Saverstale savings account, 5.25% base at $50,000
• Everyday Accessstale transaction account, 0.00% base at $50,000

All of Defence Bank's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.