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

250
iSaver Account: 1.25% pa Variable Base + 4.15% pa Fixed Bonus Interest for 6 Months on Balance up to $250,000 @ Defence Bank
Go to Deal
aka nioh on 08/01/2025 - 20:30 defencebank.com.au (338 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…

Financial Bank Account Savings Account

Related Stores

Defence Bank
Defence Bank

Comments

  • 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
    +3

    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
        +1

        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.

    • Ave Maria on 15/01/2025 - 20:27
      +1

      if you initiate the Rabobank transfer out before the daily cuttoff time (6pm) it will be received same day. If transfer is scheduled in advance it is is received by noon. Done that a zillion times.

      • psychicEgg on 15/01/2025 - 23:49

        Nice one, thank you! I just wanted to check they don't make things difficult like $10K max per day or something similar

        • Ave Maria on 16/01/2025 - 16:53
          +1

          You can take out $300K from each of the accounts held with them per day - that is $600K using both the HISA & Premium Saver (no questions asked ever). Being able to take out money quickly compensates for having only one nominated external account to do so. Same feature can be used to take out money quickly without a fuss from an external account (after nomination) via direct debit if enabled - I believe the limit is $5 Million per day.

  • alexshel on 09/01/2025 - 09:39
    +1

    +1 for the attached spreadsheet👍🏻

  • cakesyy on 09/01/2025 - 10:49

    what happens after 6 months?

    • CatmanAU on 09/01/2025 - 10:59
      -3

      Good question

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

      • ThithLord on 09/01/2025 - 11:40
        +1

        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
    +1

    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
      +2

      Wow, that's at bit pathetic

      • tommytill on 13/01/2025 - 21:23
        +1

        I used to bank with them until Josie at Edinburgh branch was caught making withdwawals after hours using the paper based witdrawal slips and signing as the customer. This was when OP Slipper was going strong and all the boys allowances were coming back from the MEAO to their accounts. She was taking thousands. All involved (stolen from) had to sign an NDA as a part of being refunded their own money. And here's her husband, junior rank on base, driving the latest monaro around base. Thats when I left Defcredit / DefenceBank - I assume this was about the time of the name change as well..

        • koplik8 on 14/01/2025 - 09:47

          @tommytill What??!!! Did she go to jail??

          • tommytill on 14/01/2025 - 17:13
            +1

            @koplik8: Dont believe so. When you queried the other staff they wouldn't say a thing about it. He still had his monaro in the years after.

  • danielt25 on 11/01/2025 - 12:43

    Thanks for this find … a great interest rate and a good bonus period. Shame it's not for higher amounts though

  • plantatree2013 on 04/02/2025 - 19:10

    Thank you aka nioh for posting this.May i ask in your Isaver account does the account shows both the base rate and bonus rate or only base rate ?Did they ring you to verify your details after you open your account?

    Thanks everyone,have a great week!

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