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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.

Nick Bendel
Nick Bendel

Property & Personal Finance Writer

Content updated

Product data updated

Why choose Defence Bank

Benefits

  • Additional repayments allowed
  • Free redraw facility
  • Below-average interest rates

Drawbacks

  • Limited loan options
  • Charges establishment fees
  • Charges ongoing fees

Defence Bank Personal Loans

Personal Loans calculator

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

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based on a $30,000 loan for 5 years at -

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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.