Savings account vs term deposit
Defence Bank iSaver vs term deposit
2.87% a year
5.30% a year for 1 year
Compare on
Interest over 1 year on $50,000
$1,437
2.87% a year
$2,650
5.30% a year · paid at maturity
Over 1 year on $50,000, Defence Bank iSaver pays $1,437; Defence Bank's 12-month term deposit pays $2,650.
Worked out on $50,000 until you pick a balance
Defence BankiSaver
Defence BankTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$1,437
nothing to do each month
$2,650
paid at maturity
+$1,213 · More interest over the term
Rate over the term
a year, on $50,000
2.87%
with its intro rate of 5.25% for the first 6 months
5.30%
fixed for the term
+2.43 · Higher rate over the term
Asked of you each month
Nothing
Nothing
the money stays put
Getting the money out
Any time
no notice needed
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
the bank sets it
No
fixed for 1 year
Minimum to open
None
$1,000
up to $1,000,000
The same on both
Nothing to compare in these: both say the same.
- AnyoneWho can open it
How they differ
- A savings rate can change at any time. Defence Bank iSaver's figure holds today's rate for 1 year, with its intro rate of 5.25% for the first 6 months.
- A term deposit's rate is fixed for the term, but the money is locked in: breaking it early needs 31 days' notice and usually costs some of the interest.
- Both are covered by the Financial Claims Scheme, up to $250,000 per person at each bank. Money in both at Defence Bank shares that one $250,000.
Defence Bank Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
1 monthPaid at maturity2.10%$88
2 monthsPaid at maturity2.10%$175
4 monthsPaid at maturity5.10%$850
5 monthsPaid at maturity5.00%$1,042
7 monthsPaid at maturity5.00%$1,458
8 monthsPaid at maturity5.00%$1,667
9 monthsPaid at maturity5.00%$1,875
10 monthsPaid at maturity5.40%$2,250
11 monthsPaid at maturity5.00%$2,292
1 yearPaid at maturity5.30%$2,650
As of 10 November 2026, over 1 year on $50,000, Defence Bank iSaver pays $1,437 with nothing to do each month; Defence Bank's 12-month term deposit pays $2,650 at 5.30%. Figures are the bank's published rates, worked out on the balance above as simple interest. Each row says which figure is higher; it doesn't say which one suits you.