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.

Other available products

Personal Finance Editor

Content updated

17 Oct, 2022

Product data updated

19 Apr, 2025

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.

Home Loans calculator

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

Your estimated mortgage repayments

Total interest

Total repayments

How much can I borrow?

Compare home loans

All calculations are estimates only; they are not guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
It is assumed that data entered into the calculator, including interest rates, do not change for the lifetime of the loan - unless specified.
The Present Value provided by this calculator is displayed as the amount labelled 'Loan amount'.
At the end of the interest-only period, the rate may change. For this calculation, rate switches to the current rate.
The current rate is today’s average big 4 owner occupier advertised discounted variable rate (LVR 80%), unless you have inserted your own rate.
Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.

Months are assumed to be of equal length. However, given some months are longer than others, interest charged may vary depending upon the month.
One year is assumed to contain exactly 52 weeks or 26 fortnights. Thus each year has 364 days.
The calculator uses the unrounded repayment to derive the home loan summary line graph and repayment schedule. However, institutions may round repayments to the nearest cent.
Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
Calculator does not include the cost of fees or other extra charges.
Calculator does not account for changes to interest rates over time.
This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Consider whether you need financial advice from a qualified adviser.
After the interest only term ends, your repayments will change based on the current* interest rate. This rate is subject to change. Read our full disclaimer.

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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About our expert

Mark Bristow

Personal Finance Editor

Mark Bristow is RateCity's Home & Personal Finances Editor, and an experienced analyst, researcher, and producer. While primarily focused on Australian mortgage and home loan expertise, he has experience across energy, home and travel insurances. Mark has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider. Mark has also completed RG 146 (Tier 1), making him compliant to provide general advice for general insurance products like car, home, travel and health insurance, as well as giving him knowledge of investment options such as shares, derivatives, futures, managed investments, currencies and commodities.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Defence Bank home loans

Why choose Defence Bank

Benefits

Drawbacks