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  4. Defence Bank
Defence Bank

Defence Bank home loans

Defence Bank (formerly Defence Force Credit Union Limited) was founded in 1975 to help Australian Defence Force personnel manage their money. One of Australia’s largest member-owned banks, Defence Bank has over 90,000 customers and manages more than $1.5 billion in assets.

Defence Bank is well known for providing a range of home loans tailored to Defence personnel in addition to more standardised financial products such as insurance, credit cards and every day banking facilities.

As Defence Bank isn’t controlled by shareholders it’s able to offer a range of financial products at competitive interest rates to customers across Australia. In 2014 and 2015 Defence Bank won Money Magazine’s ‘Best of the Best Award’ for it’s car loan and was a finalist in the 2013 Australian Lending Awards.

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Content updated
Product data updated22 Oct, 2023

Important disclosure

Why choose Defence Bank

Benefits

  • Offers discounts on the interest rate.
  • Suitable for low deposits.
  • Opportunity to package financial products.
  • Pre-approval available for home loans.

Drawbacks

  • Some products include high upfront fees.
  • Not all products offer offset facilities.

Defence Bank Home Loans

Loan amount

$

Minimum deposit

Loan type & Term

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Compare
Company
Product
Essentials Home Loan
Real Time Rating™
Features
Investor
5% min deposit
P&I
Offset Account
Australian Credit Licence 234582
Interest Rate
Comparison Rate*
Repayment

7.97%

p.a

Variable

8.12%

p.a

$2,694

monthly

Go to site
Australian Credit Licence 234582
Compare
Company
Product
Smart Mover Line of Credit with Ultimate Package
Real Time Rating™
Features
Owner Occupied
20% min deposit
P&I
Australian Credit Licence 234582
Interest Rate
Comparison Rate*
Repayment

8.87%

p.a

Variable

Not Applicable

$2,906

monthly

Go to site
Australian Credit Licence 234582
Compare
Company
Product
Basic Variable Home Loan
Real Time Rating™
Features
Owner Occupied
20% min deposit
P&I
Extra repayments
Australian Credit Licence 234582
Interest Rate
Comparison Rate*
Repayment

7.70%

p.a

Variable

7.75%

p.a

$2,632

monthly

Go to site
Australian Credit Licence 234582
Compare
Company
Product
Premier Home Loan
Real Time Rating™
Features
Owner Occupied
30% min deposit
P&I
Extra repayments
Australian Credit Licence 234582
Interest Rate
Comparison Rate*
Repayment

6.19%

p.a

Variable

6.19%

p.a

$2,296

monthly

Go to site
Australian Credit Licence 234582
Compare
Company
Product
Premier Home Loan
Real Time Rating™
Features
Owner Occupied
5% min deposit
P&I
Extra repayments
Australian Credit Licence 234582
Interest Rate
Comparison Rate*
Repayment

6.44%

p.a

Variable

6.44%

p.a

$2,350

monthly

Go to site
Australian Credit Licence 234582

Home Loans calculator

Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios.

$
130
25 years

Your estimated mortgage repayments

at interest rate 6.19%

Total interest payable

$0

Total loan repayments

$0

Defence Bank customer service

Defence Bank home loan customers can get in touch in a number of ways. By calling the customer service centre it’s possible to speak to a member of staff on the phone, or alternatively customers can visit one of its 40-plus branches primarily located on defence bases across Australia. Wherever customers are located cash can be withdrawn through one of Australia’s largest ATM networks and enquiries can be made via email or through the bank’s website. Defence Bank mobile and online banking services are available 24/7.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Branch

How to Apply

To get in touch with Defence Bank regarding their home loan customers can call the customer service centre and arrange to speak to a home loan consultant. Customers can also make enquiries online and complete Defence Bank’s obligation-free pre-approval process. Home loan applications can be made both online and face-to-face in a branch. Before settling on a home loan it’s important for customers to calculate how much they can comfortably borrow at various terms and interest rates. To support any Defence Bank home loan application the following documentation may be required:

  • Personal identification material.
  • Proof of income and tax file number.
  • Proof of additional earnings.
  • Information regarding current debts, liabilities and assets.
  • Documentation on the new property.

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