You've got questions, we've got answers. Read our FAQs for more information.


The Online Saver is open to Australian residents over 12 years of age.

The Online Saver has two interest rate tiers as well as a bonus interest rate.

Tier 1: Less than $5,000
Tier 2: $5,000 to $500,000
Bonus Interest: When conditions are met on the full account balance.
Click here to view our current interest rates.

Interest is calculated daily and posted monthly. Your quarterly statement will display 2 separate line items identifying the:

  • Standard interest calculation; and
  • Bonus interest calculation (where applicable).

In order to earn bonus interest, on your Online Saver, you must meet the following two conditions.

  1. The account balance must be in tier 2 (between $5,000 and $500,000), and
  2. There must have been no withdrawals during the calendar month.

In the event your account meets the balance criteria mid month (due to a deposit) and there have been no withdrawals in the month, the bonus interest will only be applied for the number of days that the account was eligible.

If the balance on your account exceeds $500,000, you will not earn interest on the balance above this threshold. For example, if you have an account balance of $520,000 your interest calculation will be based on the maximum amount of $500,000 only.

As the account is an online only product, all applications need to be submitted through our website. Unfortunately, you cannot open an account in branch. The account is self-service, which is why we’re able to offer such a competitive interest rate.

As all transactions for the Online Saver Account are performed online, it is not recommended for members who do not have regular access to the internet. Apart from the online applications, statements and other notifications for this product will also be delivered electronically, requiring internet access.

Australian Military Bank offers a number of other products which may better suit your needs if you have limited access to the internet.

There are no fees associated with this account.

No. Funds can only be transferred out to your linked account. BPAY® functionality is not active for this product.

® Registered to BPAY Pty Ltd ABN 69 079 137 518

The Online Saver requires members to nominate a ‘linked’ account. Linked accounts are either Internal (another Australian Military Bank account) or External (other Australian financial institution). The Online Saver has not been setup as a traditional transaction savings account and withdrawals/transfers out of the account are limited to the linked account. 

If your nominated linked account is not held with Australian Military Bank, we will need to verify it for your protection, before you can make withdrawals. 

To verify your nominated linked account and start transacting, simply deposit any amount from your nominated linked account to your new Online Saver Account. In the transaction description, please type the word ‘verify’. Once we see this transaction, your account will be fully verified.

Place a call the Direct Contact Centre on 1300 13 23 28 and they will talk you through this process. You will need your mobile phone and the new linked bank account details handy.

There are different limits depending on whether your linked account is with Australian Military Bank or another Australian financial institution.  The limit on daily transferswithdrawals to your linked external bank account is $20,000. There is no transfer limiter restriction on any Australian Military Bank linked account.

If you need to transfer a higher amount please call our Direct Contact Centre on 1300 13 23 28.


If your online identity verification is incomplete, we can still open the account for you to deposit funds.  Before you can transfer funds from your account, you will need to be identified by submitting the required identification documents.  For more information about how you can verify your identity, please see our FAQ, Verifying your Identity, or call 1300 13 23 28 for more information and assistance.  

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