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Barracks Insurance

Barracks Insurance


Holding contents cover in communal Defence residential barracks means you can feel secure that your personal belongings are protected.

Australian Military Bank offers Barracks Insurance for accidental loss or damage to your contents such as laptops, digital media players and jewellery.

New for old

replacement

Cover whilst

relocating

Cover whilst

deployed

Overview

 

The key features of Barracks Insurance are:
 

  • Contents cover in communal residential barracks
  • Cover when your place of residence is unoccupied due to deployment (upon application)
  • Cover whilst relocating
  • New for old replacement cover for contents
Download the Accidental Damage PDS
 
Download the Listed Events PDS
To request a quote or to apply for Barracks Insurance, call us on
1300 13 23 28, or visit your nearest branch.

Inclusions

 

Here’s a summary of the main inclusions on our Barracks Insurance:
 

  • Contents cover in communal residential barracks
  • Cover up to 30 days whilst relocating
  • Cover up to 270 days when your place of residence is unoccupied due to deployment (upon application)
  • Optional cover for accidental loss or damage to your valuables anywhere in the world, including whilst you are on peacekeeping duties.
  • New for old replacement cover for contents
  • Option to pay fortnightly or monthly at no extra charge
  • $30 million legal liability insurance
  • Cover for high risk items 
  • Cover for electrical motor burnout up to 15 years
  • Cover for home office equipment up to $15,000 
  • Cover for food spoilage  

Questions

 

Here are the most common questions we get asked about our Barracks Insurance. Have a different question? Call us on 1300 13 23 28.

    
How long can I be covered for when I’m deployed?
If you’re away from your place of residence due to deployment, you’ll be covered for up to 270 days (upon application).
 

Am I covered if a personal belonging gets damaged whilst relocating between barracks?
Yes, your belongings are covered for up to 30 days whilst you’re relocating.
 

Is liability insurance included in my policy?
Yes, you’re covered for up to $30 million in liability insurance. 
 

If my belongings are damaged, will they be replaced with new items?
Yes, our Barracks Insurance includes new for old replacement. 
 

How do I make a claim?
To make a claim, just call 132294 and quote your policy number.

Features
24/7 claims
Quote online
Multi policy discount
No claim bonus discount

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Boat Insurance

Boat Insurance


Your boat might be your pride and joy, your weekend escape or even your place of residence. With boat insurance from Australian Military Bank, you can relax knowing that should anything happen, you’ll be back on the water without any major expense or trouble.

Cover for

damage

Cover for

towing or transport

Liability

Cover

Overview

 

The key features of our boat insurance policy includes: 
 

  • Accidental damage cover including collision
  • Automatic cover for accessories, tools and contents (up to $1,000)
  • Your boat is covered while navigating Australian inland and coastal waters up to 200 nautical miles offshore (or in transit within Australia) 
  • New for old boat replacement
  • Personal accident cover
  • Cover for towing and transport costs
To request a quote or to apply for a boat insurance policy, call us on
1300 13 23 28 to speak to a consultant, or visit us in person at your nearest branch.

Inclusions
 

  • Accidental damage (including collision)
  • Automatic cover for accessories, tools and contents up to $1000
  • Cover for fire, explosion, flood, storm and theft
  • Cover while navigating Australian inland and coastal waters up to 200 nautical miles offshore (or in transit within Australia) 
  • Damage to boat trailer
  • Food spoilage up to $500
  • New-for-old boat replacement in the event of a total loss, if the boat is purchased new up to 2 years old
  • Optional additional accessories cover
  • Optional lay up cover
  • Optional Water Skiers or Aquaplaning liability extension
  • Optional Yacht Racing Risk extension (Covers sails, masts, spars and rigging)
  • Personal accident cover includes ambulance costs, funeral costs and total disablement payments
  • Personal property belonging to you, your crew or invited guests up to $1500
  • Return to home costs if your boat is damaged more than 100km from home up to $500
  • Towing costs
  • $10 million liability cover 

Questions

 

We get asked a lot of questions about our Boat Insurance. Here are the top 5. Have a different question? Call us on 1300 13 23 28 to speak to a consultant.

Is my boat covered if I have an accident whilst on the water?
Yes, you’ll be covered for accidents that occur on the water, whether or not you’re at fault. 

Is my boat covered if I have an accident on the road whilst towing my boat?
Yes, you’ll be covered for accidents that occur on the road if your boat if being towed, whether or not you’re at fault.

Will I have to pay an excess if the accident was not my fault?
If it’s agreed that the accident was not your fault and we are provided with all the relevant documentation, you won’t be liable to pay an excess. Refer to the PDS for more information.

Is all the equipment on my boat covered?
You’ll be covered for any damage to the boat’s hull, accessories, masts, sails, rigging, motors (including control equipment) and tools supplied with your boat.

Am I covered for recovery costs if my boat sinks?
Yes, if your boat sinks and has to be recovered and transported for repairs, you’ll be covered for the costs associated. 

Features
24/7 claims
Quote online
Multi policy discount
No claim bonus discount

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Used Car Loan

Used Car Loan


If you’re looking to buy a pre-loved car or motorbike that’s between 1 and 5 years old, our Used Car Loan gives you a competitive interest rate and a range of great features.

Competitive

interest rate

Fast

approval

Apply online

in under 15 minutes

Overview

 

Our Used Car Loan features:
 

  • Minimum loan size $1,000, maximum $70,000
  • Loan term of up to 7 years
  • Available for cars and motorbikes between 1 and 5 years old
  • The option to make extra repayments
  • The option to pay off your loan early without penalty
  • Flexible repayment frequencies - pay weekly, fortnightly or monthly
  • The option to make repayments straight from your salary
  • Redraw facility available
  • Loan repayment insurance available
Applying for the Used Car Loan is easy. Applications can be made online,
by calling 1300 13 23 28 or by visiting your nearest branch.

Rates & Fees


Here's a summary of the rates and fees for the Used Car Loan:
 

  • Interest Rate: 
  • Comparison rate*: 

*Comparison rate based on a $30,000 loan over 5 years unsecured. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. 

  • Application fee: $150
  • Monthly fee: $10
  • Annual fee: $0

Additional fees, including a redraw fee and personal property security administration fee, may be payable. For more information please see our Fees and Charges Schedule.

Download our Fees and Charges Schedule

Questions

 

We get asked a lot of similar questions about our Used Car Loan, here are our most common ones. Call us on 1300 13 23 28 if you have a different question. 
 

Can I make extra repayments on my loan?
Yes. You can make additional repayments on your loan and reduce your overall loan term without penalty.


Can I redraw excess funds from my loan?
Yes. If you’re ahead in your repayments, the Used Car Loan allows you to redraw extra funds if needed.


How old can my car or motorbike be?
Your car or motorbike needs to be within 1 and 5 years old.


Can I choose my repayment frequency?
Yes. You can choose the repayment frequency that best suits you - weekly, fortnightly or monthly repayments.


How long do I have to pay off my loan? 
You can pay off your loan over a period of up to 7 years. If you want to pay off your loan sooner, you can also make extra repayments at no extra cost.

Interest Rate
Comparison Rate*
Redraw Facility
Minimum Amount
Maximum Amount
Loan Period
Early Repayments without Penalty
Loan Repayments from Pay
Flexible Repayment Options
Maximum Car Age

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Car Loan

Car Loan


Available for cars, motorbikes, caravans and boats that are less than 5 years old. 

Low interest

rate

Fast approval

process

Apply online

in under 15 minutes

Overview


Key features of the Car Loan are:
 
  • Loans from $4,000 to $200,000
  • Loan terms from 1-7 years
  • Maximum car age of less than 5 years
  • Motorbikes included; maximum motorbike age of less than 5 years
  • Boats included; maximum boat age of less than 5 years
  • Caravans included; maximum caravan age of less than 5 years
  • The ability to make extra repayments or pay off your loan early without penalty
  • Flexible repayment frequency - pay weekly, fortnightly or monthly
  • The option to make repayments straight from your salary
  • $10 monthly fee
Applications for the Car Loan can be made online, over the phone on
1300 13 23 28 or by visiting your nearest branch.

Rates & Fees


Here’s a summary of the rates and fees for the Car Loan:

  • Interest Rate: 6.95% p.a.
  • Comparison rate*: 7.89% p.a. 

*Comparison rate based on a $30,000 loan over 5 years unsecured. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

  • Application fee: from $150
  • Monthly fee: $10

Additional fees, including a  personal property security administration fee, may be payable.  For more information please see our Fees and Charges Schedule.

Download our Fees and Charges Schedule

 

Questions


We get asked similar questions about our Car Loan so here are some common ones. If you have a different question, call us on 1300 13 23 28.

Can I make extra repayments on my loan?
Yes. You can make additional repayments on the Car Loan, which could help you pay it off sooner.
 
Can I redraw excess funds from my loan?
No. The Car Loan does not allow you to redraw extra funds.
 
How old does my vehicle or boat have to be?
The car, motorbike or boat you purchase must be less than 5 years old. 
 
Can I borrow for a motorbike or boat?
Yes, our Car Loan is also available for motorbikes and boats. If you’re unsure give us a call on 1300 13 23 28.
 
Can I choose my own loan term? 
Yes, you can select any loan term up to 7 years. If you select a longer loan term but would like to pay your loan off sooner, you can also make additional payments without penalty.
 
 

Interest Rate
Comparison Rate*
Redraw Facility
Minimum Amount
Maximum Amount
Loan Period
Early Repayments without Penalty
Loan Repayments from Pay
Flexible Repayment Options
Maximum Car Age

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Low Rate Visa Card

Low Rate Visa Credit Card

With a low annual fee and a low ongoing interest rate for purchases, the Low Rate Visa Credit Card is the only credit card you'll ever need.

Plus, with our competitive 12-month balance transfer rate, you can also transfer your outstanding balances from other credit or store cards to Australian Military Bank for 0.00% p.a (introductory rate).

Low interest rate

on purchases

0% 12 month

balance transfer

Secure online

shopping worldwide

Overview


The Low Rate Visa Credit Card is packed with features and benefits including: 
 

  • A low 11.99% p.a. interest rate on purchases. 
  • 0.00% p.a.12 months introductory balance transfer rate. This reverts to 11.99% p.a. after 12 months. 
  • Tap and Pay with Visa payWave
  • Up to 45 days interest free on purchases
  • Fast assessment 
  • Worldwide acceptance
  • ATM and EFTPOS facilities
  • Cash advance facilities
  • The latest security measures including microchip free fraud protection service and Verified by Visa for online purchases
  • 24-hour lost card hotline
  • Multi-access repayments via BPAY®, online and mobile banking

Apply for a Low Rate Visa Credit Card online, over the phone on 1300 13 23 28 or by visiting your nearest branch.

Terms, conditions, fees, charges and lending criteria apply and are available in branch or on this website. Rates are current at the time of publication and are subject to change.
The Target Market Determinations (TMD) for our products are available here
® Registered to BPAY Pty Ltd ABN 69 079 137 518

Rates & Fees


Here's a summary of the rates and fees for our Low Rate Visa Card:
 

  • Interest rate on purchases: 11.99% p.a. 
  • Introductory balance transfer rate: 0.00% p.a. for 12 months
  • Interest free days on purchases: up to 45 
  • Annual fee: $49 
  • Additional card holders fee: $0

Download our Fees and Charges Schedule

Terms, conditions, fees, charges and lending criteria apply and are available in branch or on this website. Rates are current at the time of publication and are subject to change.
® Registered to BPAY Pty Ltd ABN 69 079 137 518

Questions

 

We’re often asked similar questions about our Low Rate Visa Credit Card so here are our top five. Can’t see your question? Call 1300 13 23 28.

What do I do if my card is lost or stolen?
Let us know if your card becomes lost or stolen straightaway by calling us on 1300 13 23 28. If you’re overseas, you can also call the Visa International Hotline specific to the country you’re in.

What is a cash advance?
If you find yourself short of cash, the Low Rate Visa Card offers a convenient cash advance feature. Cash advances allow you to withdraw cash through an ATM or at a branch with the cash taken from your credit card account rather than from the funds in your bank account. Refer to Rates and Fees for more information about the cash advance interest rate.

What is a credit limit?
Your credit limit is the amount you have been approved to spend on your Low Rate Visa Card. Make sure to monitor your Low Rate Visa Card account balance so you don’t exceed your credit limit and incur any extra charges. You can apply to have your credit limit changed by calling us on 1300 13 23 28.

How does a balance transfer work?
If you already have a credit card (or store card) debt that you’re paying off with another bank you can transfer the outstanding balance to Australian Military Bank and save on interest payments. The offer will run for 12 months (introductory offer), after which point the purchase rate will apply. To get the most out of your balance transfer, try to pay off the old debt before the balance transfer period runs out. 

How do I ensure I'm eligible for up to 45 days interest-free days?
To make the most of the interest -free period, ensure you repay the balance of your Low Rate Visa Card in full each month before the due date. For more information, refer to the Low Rate Visa Card Terms and Conditions.

Personal Loan

Personal Loan


If you’re looking for a personal loan with set repayments, our Personal Loan gives you the peace of mind in knowing what your repayments will be for the life of your loan.

Flexible repayment

options

Fast approval

process

Apply online

in under 15 minutes

Overview

 
Key features of the Personal Loan:
 
  • Fixed rate loan
  • Minimum loan size $4,000, maximum $75,000* 
  • Loan terms from 1-7 years
  • Purpose includes consolidation loans
  • Unsecured Loan
  • The ability to make extra repayments or pay off your loan early without penalty
  • Flexible repayment frequency - pay weekly, fortnightly or monthly
  • The option to make repayments straight from your salary
  • $10 monthly fee
Applying for our Personal Loan is easy. Applications can be made online, by calling 1300 13 23 28, or by visiting your nearest branch.
*$40,000 for debt consolidation

Rates & Fees


Here's a summary of the rates and fees for the Personal Loan:

  • Interest rate: 8.95% p.a. 
  • Comparison rate*: 9.85% p.a. 

*Comparison rate based on a $30,000 loan over 5 years unsecured. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

  • Application fee: $150
  • Monthly fee: $10

Additional fees, including a personal property security administration fee, may be payable.  For more information please see our Fees and Charges Schedule.

Download our Fees and Charges Schedule

Questions

 

We get asked a lot of similar questions about our Fixed Rate Personal Loan, here are our most common ones. Call us on 1300 13 23 28 if you have a different question. 

 
Can I may extra repayments on my loan?
Yes. You can make additional repayments on the Fixed Rate Personal Loan to help you pay it off sooner. 
 
Can I redraw excess funds from my loan?
No, the Fixed Rate Personal Loan does not have a redraw facility. Refer to the comparison table below for a full list of features. 
 
How much can I borrow?
You can borrow up to $75,000. ($40,000 for debt consolidation) 
 
Can I choose my repayment frequency?
Yes. You can choose the repayment frequency that best suits you - weekly, fortnightly or monthly.
 
How long do I have to pay off my loan?
You can pay off your loan over a period of 5 years or less and can make extra repayments at no extra charge.
 

 

Interest Rate
Comparison Rate*
Redraw Facility
Minimum Amount
Maximum Amount
Loan Period
Early Repayments without Penalty
Loan Repayments from Pay
Flexible Repayment Options
Maximum Car Age

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Recruit Salary Saver

Recruit Salary Saver Account

We know that starting out financially can be a challenge. That’s why we’ve introduced our Recruit Salary Saver Account designed for new Defence Force Recruits and Cadets. It’s a simple everyday transaction account to give new Recruits a financial head start in their careers.

Designed

for Recruits and Cadets

Tap and Pay

with Digital Wallets

Zero

monthly or annual fee

Overview
 

The Recruit Salary Saver Account is available to those aged between 12 and 30. It features:
 
  • No annual fee on the Visa Debit Card
  • No monthly service fee 
  • Add your Visa card to your preferred digital wallet from Apple Pay, Google Pay, Samsung Pay, and Garmin Pay^^
  • Access to fast and simple payments with PayID
  • No minimum balance to get started
  • Visa Debit Card access including your choice of card design
To open a Recruit Salary Saver Account, apply online, call us on
1300 13 23 28, or visit your nearest branch.

Rates & Fees


Here’s a summary of the rates and fees for the Recruit Salary Saver Account:

Interest Rates:

  • Interest rate: 1.05% p.a.
  • Interest calculated daily and paid monthly


Monthly Fees:

  • Monthly service fee: $0


Everyday Banking Fees:

  • BPAY® transactions: Free
  • Internet banking transactions: Free
  • Mobile banking transactions: Free
  • Australian Military Bank ATM transactions: Free
  • EFTPOS transactions: Free

Additional fees may be payable. For more information please see our Fees and Charges Schedule.


Download our Fees and Charges Schedule

Questions

 

Here are the top questions we get asked about our Recruit Salary Saver Account. Can’t see your question? Call 1300 13 23 28.

Who is eligible to open a Recruit Salary Saver?
You can open a Recruit Salary Saver Account if you are aged between 12 and 30.

Can I earn interest on my balance?
Yes, you can earn a great interest rate on your account balance, which is calculated daily and paid into your account monthly.
 
Is there a minimum balance needed to open the account and keep it active?
No, there is no minimum balance required to open the account and keep it active.

Can I use tap and go on my Visa debit card?
Yes, your Visa debit card comes enabled with Visa payWave that enables you to perform tap and go transactions under $200.

Features
Monthly Service Fees
Visa Debit Card Access
Direct Debit and Credit Facility
Choose your debit card design
Cheque Facility
Interest Rate
Internet and Mobile Banking
ATM and EFTPOS
Bank @ Post
Branch Banking
Interest Calculated
Interest Paid

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Military Clubs Account

Military Clubs Account

 

Our Military Clubs Account is designed for Defence related clubs, canteens, and messes to help manage their daily finances. 

No monthly

fees

Designed

for ADF organisations

No minimum

balance

Overview


The Military Clubs Account has a range of great features including:
 
  • No monthly account keeping fees
  • 24 hour access via internet banking and mobile banking
  • Visa debit card access
  • Tap and go payments with Visa payWave
  • Unlimited card holders
  • BPAY® facilities available
  • Banking at Australia Post available
To open a Military Clubs Account, apply online, call us on 1300 13 23 28, or visit us at your nearest branch.

Rates & Fees


Here’s a summary of the rates and fees for the Military Clubs Account:
 

  • Interest rate: 0.01% p.a.
  • Interest calculated monthly and paid annually on 31 May
  • Monthly account keeping fee: $0


Additional fees may be payable. For information about these fees please see our Fees and Charges Schedule.

Download the Fees and Charges Schedule

Questions

 

Here are the top 4 questions we get asked about our Military Clubs Account. Call us on 1300 13 23 28 to speak to a consultant if you have a different question.


Is there a minimum balance needed to open the account and keep it active?
No, there is no minimum balance required to open the account and keep it active.
 

How does the Military Clubs Account help me keep track of all my expenses?
You’ll have a record of all the transactions on your Military Clubs Account when you log into internet banking or check your account history on our mobile banking app. 
 

Is there a limit on how many card holders can be on the account?
No, there’s no limit to the number of card holders on the account.
 

Can I earn interest on my balance?
Yes, you can earn interest on your balance, calculated monthly and paid annually on 31 May each year. Refer to the comparison table below for our current interest rates.

Features
Monthly Service Fees
Visa Debit Card Access
Direct Debit and Credit Facility
Choose your debit card design
Cheque Facility
Interest Rate
Internet and Mobile Banking
ATM and EFTPOS
Bank @ Post
Branch Banking
Interest Calculated
Interest Paid

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Access Account

Access Account


The Access Account gives you access to your money 24/7 so you can do your banking whenever it suits you. With no monthly fees, it’s a perfect account for all your everyday needs.

No monthly

fees

Choose your

card design

Earn interest on

your account balance

Overview

 
Key features of the Access Account are:
 
  • No monthly account keeping fees
  • Visa Debit Card access with your choice of card design
  • If you have an everyday account with us you have access to free Australian Military Bank ATMs
  • Tap and go payments with Visa payWave
  • Banking at Australia Post available
To open an everyday Access Account, go online, call us on 1300 13 23 28 to speak to a consultant, or visit us in person at your nearest branch.

Rates & Fees

 

Here’s a summary of the rates and fees for the Access Account:
 

  • Interest rate: 0.01% p.a.
  • Interest calculated monthly and paid annually on 31 May
  • No monthly account keeping fee


Additional fees may be payable. For information about these fees please see our Fees and Charges Schedule.

Download our Fees and Charges Schedule 

Questions

 

Take a look at our frequently asked questions about the everyday Access Account. Or, call us on 1300 13 23 28 to speak to a consultant if you have a different question.


Is there a minimum balance needed to open the account and keep it active?
No, there is no minimum balance required to open the account and keep it active.
 

What’s the most amount of money I can transfer?
The maximum amount you can transfer at one time is $5,000.
 

How does Visa payWave work?
Your new card is embedded with an antenna so that when it’s held against the payWave reader, a secure message is transmitted to the terminal to process your transaction. Visa payWave only works for purchases under $200.
 

How do I open an Access Account?
You can open an Access Account online, in branch or over the phone.
 

Can I earn interest on my balance?
Yes, you can earn interest on your balance, which is calculated monthly and paid annually on 31 May each year. Refer to the comparison table below for our current interest rates.

Features
Monthly Service Fees
Visa Debit Card Access
Direct Debit and Credit Facility
Choose your debit card design
Cheque Facility
Interest Rate
Internet and Mobile Banking
ATM and EFTPOS
Bank @ Post
Branch Banking
Interest Calculated
Interest Paid

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Superannuation

If you're looking for an account to help you manage your retirement we can help. Australian Military Bank has a range of retirement savings accounts that are low cost and easy to manage.

Talk to our Retirement Product Specialist, Gowhar Rezvi, about finding the right account to suit you and your life stage. To find out more about Gowhar, click here

Loan
Features
Maximum interest rate1
Online Access
Covered by the Financial Claims Scheme
Investment options

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                            [label] => Covered by the Financial  Claims Scheme
                        )

                    [9] => Array
                        (
                            [weight] => 9
                            [value] => Fixed term and variable rate options
                            [type] => text
                            [label] => Investment options
                            [machine_name] => field_investment_options
                        )

                )

            [2] => Array
                (
                    [-99] => Array
                        (
                            [weight] => -99
                            [value] => DIY Super Saver
                            [type] => text
                            [machine_name] => field_product_name
                        )

                    [-98] => Array
                        (
                            [weight] => -98
                            [value] => superannuation/diy-super-saver-account
                            [type] => text
                            [machine_name] => field_product_url
                        )

                    [-97] => Array
                        (
                            [weight] => -97
                            [value] => Manage your super your way
                            [type] => text
                            [machine_name] => field_product_content
                        )

                    [-96] => Array
                        (
                            [weight] => -96
                            [value] => https://ib.australianmilitarybank.com.au/AMBOnlineBanking/apps/services/www/AMBBankingApp/desktopbrowser/default/AMBAppIndex.html?pd=DIYSS
                            [type] => text
                            [machine_name] => field_apply_url
                        )

                    [5] => Array
                        (
                            [weight] => 5
                            [value] => Specifically designed for self-managed super funds
                            [type] => text
                            [label] => Features
                            [machine_name] => field_features
                        )

                    [6] => Array
                        (
                            [weight] => 6
                            [value] => 3.75% p.a.
                            [type] => taxonomy
                            [label] => Maximum interest rate1
                        )

                    [7] => Array
                        (
                            [weight] => 7
                            [value] => 
                            [type] => list
                            [label] => Online Access
                        )

                    [8] => Array
                        (
                            [weight] => 8
                            [value] => 
                            [type] => list
                            [label] => Covered by the Financial  Claims Scheme
                        )

                    [9] => Array
                        (
                            [weight] => 9
                            [value] => Self-managed
                            [type] => text
                            [label] => Investment options
                            [machine_name] => field_investment_options
                        )

                )

        )

    [1] => 5
)
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