flagFounded: 1975

businessOwned by: Customer-owned

monetization_onFunded by: Retail deposits and wholesale capital markets

securityLMI Provider: Genworth

account_balanceLender type: Credit union

Defence Bank is not an available lender on our panel. This is a review only.

Defence Bank, formerly known as Defence Force Credit Union, was set up to offer cheap home loan options under the Defence Home Ownership Assistance Scheme (DHOAS).

As a customer-owned bank, they don’t operate for the benefit of shareholders so their profits go back into offering better products and service to Australian Defence Force (ADF) personnel.

Defence Bank offers financial/credit services to the broader community as well and not just to the Australian Defence Force.

How do Defence Bank home loans compare?


  • DHOAS subsidies applied to some of their mortgage packages
  • Eligible ADF members qualify for a standard variable rate discount
  • Competitive interest rates
  • Most of their products don’t have annual or monthly fees
  • Non-ADF members can still get a home loan
  • Line of credit with the equity in your property
  • Borrow up to 90% with investor home loan


What types of home loans does Defence Bank sell?

Defence Bank’s variable rate packages are the Ultimate and Essentials packages, with the only real difference being a slightly lower interest rate applied to its Ultimate package.

Do I have to be a member of the ADF?

No but a few of their products are only available to ADF personnel meaning that special interest rate discounts and government subsidies only apply via the DHOAS.

For example, the DHOAS Saver Home Loan and DHOAS Construction Home Loan is only available to ADF members.

Can I get DHOAS subsidies through other lenders?


Any bank in Australia can submit a tender to the government to secure the contract for the defence housing discounts and it currently sits with three lenders.

You can read more about qualifying for DHOAS subsidies on the defence force home loan discounts page.

We’re experts in getting home loan discounts for ADF members!

As a mortgage broker, we can assess your needs and choose from our panel of nearly 40 lenders to find a great deal on your behalf.

Call us on 1300 889 743 or complete our free assessment form today.