Teen Saver
An everyday savings account for those aged 12-17 years with growing financial independence in mind.
- Base rate
- 5%
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable Interest is calculated daily on the closing balance and credited on 31 March each year. | 5% | — | yearly |
Fees
| Fee | Type | Amount |
|---|---|---|
| BPAY We don't charge a fee for BPAY | Event | $0.00 |
| EFTPOS transactions We don't charge a fee for EFTPOS transactions | Event | $0.00 |
| PayTo We don't charge a fee for PayTo | Event | $0.00 |
| 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 | Event | $0.00 |
| Visa foreign currency conversion fee The fee we charge when you make a payment or a deposit or obtain a cash advance overseas. | Event | 3% of transaction (Event) |
| Internal transfers between Defence Bank accounts We don't charge a fee for Internal transfers between Defence Bank accounts | Event | $0.00 |
| Monthly account-keeping fee We don't charge a monthly account-keeping fee |
Features
- Card access
- Your choice of camo-coloured Visa Debit card.
- Unlimited transactions
- Higher rate of return
- Notifications — As an added security feature, Members can now set up transaction alerts on a nominated card via the mobile app to notify them whenever their account has been credited or debited. This is an optional feature that can be turned off and on.
- Card Alerts
- Lock & Block
- Digital wallet — Compatible with digital wallets from Apple, Garmin, Google and Samsung.
- Digital wallet — 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.
Eligibility
- Maximum age — 17 yearsTeen Saver is a great option for those aged 12-17 years with growing financial independence in mind.
- Minimum age — 12 yearsTeen Saver is a great option for those aged 12-17 years with growing financial independence in mind.
More Information
Published by Defence Bank under the Consumer Data Right · Last updated 19 May 2026 · Product ID 123 · View on CDR.gov.au · View Source Data (JSON)