Savings account · 12-17 years
Defence Bank Teen Saver
5.25%p.a. total
No bonus conditions: the rate is paid every month
49th of 151 savings accounts · market average 4.37%
The RBA raised the cash rate to 4.60% on 30 September. Teen Saver moved on 15 October, 15 days later.
What it asks
Nothing each month- Each month
Nothing. The rate is paid every month.
- Who can open it
12 to 17 year olds
- Balance
No balance cap.
Rate history
Last change 15 Oct- Teen Saver
- RBA cash rate
- Market average
October 20261 change
- 15Thu
- 5.00 → 5.25Total rate 5.00% → 5.25% · 15 days after the RBA rise to 4.60%+0.25
May 20261 change
- 20Wed
- 4.75 → 5.00Total rate 4.75% → 5.00% · 14 days after the RBA rise to 4.35%+0.25
- #35AprApr 2026: ranked 35 of 76
- #33MayMay 2026: ranked 33 of 79
- #40JunJune 2026: ranked 40 of 79
- #41JulJuly 2026: ranked 41 of 80
- #41AugAug 2026: ranked 41 of 80
- #52SepSep 2026: ranked 52 of 120
- #48OctOct 2026: ranked 48 of 150
- #49NowNov 2026: ranked 49 of 151
- Top 5%
- Top 10%
- Top 25%
- Top half
- Lower half
In the top 50% for 5 of the last 8 months. Its lowest was #41 of 80 in July 2026.
- Interest a year
- $2,625
- Each month
- $219
- Against the average (4.37%)
- +$441
On a $50,000 balance. Type yours above; it's kept with your savings preferences.
Notes from savers
to leave a note.
Other Defence Bank accounts: Kids Club Savings 5.25% · Max E Saver 5.10% · iSaver 0.50%
Pays 5.25% p.a. with no bonus conditions as of 2 November 2026. Ranks 49th of 151 savings accounts tracked by BankMate, 0.88 points above the average of 4.37%. The rate last rose on 15 October 2026, 15 days after the RBA raised the cash rate to 4.60%. From Defence Bank's Consumer Data Right feed, refreshed nightly. Compare savings accounts ·