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Defence Bank Personal Loans

Defence Bank is a member-owned bank based in Melbourne. As a member-owned institution, Defence Bank does not have external shareholders. Instead, profits are reinvested back into the business in order to lower rates and fees.

Defence Bank was created in 1975 as Defence Force Credit Union, before changing its name to Defence Bank in 2012.

Defence Bank operates 39 branches across Australia.

Defence Bank personal loan repayment calculator

Thinking about taking out a personal loan with Defence Bank? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Defence Bank personal loans compare with other options.

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Defence Bank Personal Loans rates

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Features of a Defence Bank personal loan

Defence Bank offers personal loans that can be used for a variety of expenses, including a new car, home renovations or an overseas holiday. Because Defence Bank is a smaller personal loan lender, it doesn’t have as many loan options as larger banks.

Customers can choose a loan period of between one and seven years. Defence Bank charges an application fee, processing fee and monthly service fee.

Defence Bank’s current personal loan rates range from very low to moderate, depending on the loan you choose.

Defence Bank personal loans - customer service

Customers can contact Defence Bank via phone, email and online enquiry. The Defence Bank Contact Centre is open from 8am to 8pm from Monday to Friday.
Customers can also visit any Defence Bank branch.

Who is eligible for a Defence Bank personal loan?

  • Must be at least 18 years old
  • Must be a permanent Australian resident or citizen
  • Must have regular income

How to apply for a Defence Bank personal loan?

  • Click ‘Apply Now’
  • Complete the online application form
  • Provide personal and financial details
  • Submit the online application form and wait for a response

Defence Bank personal loans review

While Defence Bank provides a limited selection of personal loans, its loans may be suitable for a variety of borrowers. Defence Bank borrowers are able to choose a loan period of between one and seven years, and there is no penalty for paying the loan out early.

Defence Bank charges an establishment fee and ongoing monthly fees, though there is no fee for additional payments. Customers also have access to a free redraw facility either online or at a Defence Bank branch.

Defence Bank personal loan rates vary from product to product. In general, Defence Bank personal loan interest rates range from very low to moderate.

Because of the number of personal loan lenders in Australia, it’s important to compare personal loan rates before applying. A comparison will help you secure the best personal loan rates for your specific situation.


Personal loans may require a borrower to provide proof of identity, proof of residence, details of any other outstanding loans (including credit cards), details of assets they own (e.g. savings, car, property), and proof of income.

While borrowers in full-time or part-time employment can often provide payslips and similar documents to prove their income, self-employed borrowers may need to provide other information, such as bank statements or tax returns, to demonstrate that their income can cover a loan’s repayments.


^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, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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