Australia’s Best Savings Accounts 2017

At Mozo, we’re passionate about getting Australians a better deal on their finances and the Experts Choice Awards provide us with a platform to highlight children’s savings account products in the marketplace that we believe offer great value to Australian consumers. Here are the winning savings accounts taking home Mozo Experts Choice honours in 2017.

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Pocket Money Saver

Of the 35 children’s savings accounts we compared for this year’s Experts Choice Awards, here are the savings accounts identified with the best unconditional interest rate for children 8 years and over. Criteria for the award also included: no monthly service fee, unlimited free internet transactions, no notice period for withdrawals, no automatic sweep function and to be able to link to accounts at any institution.

Pocket Money Regular Saver

If your child can make regular deposits of their pocket money, a savings account with an ongoing bonus rate could be the best interest earner. We reviewed all kids bonus rate savings accounts in our database and here’s the winners list for 2017. For full awards criteria see here.

About the Mozo Experts Choice Awards

Mozo considered at call savings accounts, transaction focused bank accounts, and fixed term deposits. Awards have been awarded for each of these product types.

Mozo has been researching and comparing financial products since 2008, and hundreds of thousands of Australians use our comparison services each month.  Our research team is headed by our Research & Insights Director and our Product Data Manager who have over 50 years of financial services experience and 22 years in online financial comparison.

More information on the methodology and deposit awards criteria can be found here

Kickstarting your kid’s savings account

The 2017 winners of the Mozo Experts Choice Children’s savings account awards have met our money expert’s criteria for excellent value, but are there other things you need to consider when choosing a savings account for your child? Here’s some of our top tips:

And also look out for: