Defence Bank Salute Account

savings accountoccupation membershiplinked accountstaleterms checked

Salute Account is a savings account from Defence Bank. It pays 4.00% p.a. with no bonus conditions; a bonus rate of 5.75% for the first 12 months (1.75% above the base rate).

Rate tiers

Every balance band in the bank's feed: base is the rate the bank pays, intro the rate in the introductory period.

One rate on every balance, with no upper limit.

The bank's feed calls the intro column a bonus rate: the whole rate for the first 12 months of a new account, 1.75% above the base rate; after it the account pays its base rate, 4.00%.

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
• open only to members who have reached an ADF milestone (15 or 25 years, deployed, seagoing allowance, retired, resigned or medical discharge), once per milestone
• bonus needs at least $1,500 a month deposited into an Everyday Access account
• the 1.75% bonus covers balances up to $250,000 only; above that the 4.00% base applies

Introductory rate conditions: Bonus rate is the total rate payable for the first 12 months.

Features

app

yes

Osko

yes

PayID

yes

PayTo

yes

BPAY

yes

transactions

unlimited

Other features, in the bank's words:

• PayTo
• Rewards your service milestones

Fees, limits and who can open it

monthly fee

$0

interest paid

monthly

interest calculated

daily

open to

personal customers

occupation membership

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

linked account

a linked or nominated transaction account is required

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

• 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.
• employment status condition: 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.

About this 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.

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: salute-account, 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

• Cadet Saverstale savings account, 5.25% base at $50,000
• 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
• 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.