iSaver Account: 1.25% pa Variable Base + 4.15% pa Fixed Bonus Interest for 6 Months on Balance up to $250,000 @ Defence Bank

190

Go to Deal

aka nioh on 08/01/2025 - 20:30 defencebank.com.au (272 clicks)
Last edited 08/01/2025 - 21:34 by 1 other user

5.4% intro rate for 6 months.

Key pts:
Defence Bank is one of Australia's larger member-owned banks and commenced operations in March 1975 as Defence Force Credit Union Limited

$10k transfer daily limit OSKO + has payID

Good for those who already have $100k in Ubank, $100k in ING, $25k in MOVE, already did Rabobank HISA and have a spare $250k to burn.

Took me 5 mins to sign up: needs passport or drivers license

All Australians can signup, you don't have to be part of ADF

spreadsheet by techt with list of HISA : https://docs.google.com/spreadsheets/d/145iM6uuFS9m-Rul65--e…

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Defence Bank

• 

  shiprekt on 08/01/2025 - 20:40

  +8

  250k to burn and here I am adding free steam games to my account.

• 

  Jetyy on 08/01/2025 - 20:41

  ahh finally, somewhere to park my spare 250k

  • 

    chutibuti on 08/01/2025 - 20:44

    For 6 months 😀

• 

  BatmanAU on 08/01/2025 - 21:12

  Is this personal or business or both?

• 

  jalalii on 08/01/2025 - 21:12

  +2

  Mortgage holders will most likely be better off putting spare $$$ in offset or redraw.

• 

  shaidas on 08/01/2025 - 21:15

  Anyone with an SMSF using a high interest paying account ? I have been looking around for some options for short term (3 months renewable) cash storage ..most do not cater to SMSF or do not do short term

  Edit: Looks like Macquarie is doing 4.85% for 3 months atm

  • 

    Noppy on 08/01/2025 - 21:44

    I was looking recently and looked like Macquarie was the easiest. ANZ also had something close.

    • 

      shaidas on 08/01/2025 - 22:09

      Yes I think Macquarie is the best option atm unless you use a non govt supported financial institution ..Just asked my accountant to certify the trust deed ..that is the only thing needed apart from the company's ABN, ACN and director's passports or any other proof.. Thanks for replying bud

• 

  slackme on 08/01/2025 - 21:25

  $10k transfer daily limit is pretty low.

  • 

    rimalala on 08/01/2025 - 21:28

    +1

    The daily limit is $10,000, but if you ever need to transfer a larger once-off amount, simply get in touch with us and we can increase it temporarily for you.

    A limit increase will take up to 24-48 hours to reach your account.

    • 

      itsDANNY on 09/01/2025 - 12:18

      Shocking that it takes that long to action a limit increase! Not common based on my experience with other banks which is often instant. Same with everyone else's?

• 

  psychicEgg on 08/01/2025 - 21:35

  What's it like moving $250,000 out of Rabobank when the honeymoon period is over? Currently in Macquarie honeymoon for a couple more months

  • 

    leeroys_dad on 08/01/2025 - 22:06

    +1

    Not instant unfortunately

  • 

    karma25 on 08/01/2025 - 23:48

    +1

    It was easy but not instant, took one business day to show up in nominated account.

• 

  alexshel on 09/01/2025 - 09:39

  +1 for the attached spreadsheet👍🏻

• 

  cakesyy on 09/01/2025 - 10:49

  what happens after 6 months?

  • 

    CatmanAU on 09/01/2025 - 10:59

    -2

    Good question

    Considering they have an i in front of name, like apple shit, I'll pass.

    • 

      ThithLord on 09/01/2025 - 11:40

      like apple shit, I'll pass.

      Legitimately cringe conclusion.

  • 

    Popo on 09/01/2025 - 11:51

    +1

    1.25% so need to see what else is around at that time.

• 

  koplik8 on 09/01/2025 - 11:22

  I use to bank with them . I wonder if they got rid of the $1.50 charge for incorrect pin number

  • 

    CatmanAU on 09/01/2025 - 16:18

    Wow, that's at bit pathetic