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Credit Union SA Childrens Savings Account

Advertiser disclosure
Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
1.20% p.a. (for $0 to $50,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Credit Union SA Childrens Savings Account

Last updated: 23 March 2021.

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What's hot
  • 1.20% interest rate (if conditions are met)
  • No monthly account or transaction fees
What's not
  • 0.05% standard rate
Mozo snapshot

Kids bank accounts come in all shapes and sizes and Credit Union has developed one to fit your child’s saving needs with its Children's Savings Account. With no monthly account or transaction fees, as well as a 1.20% special interest rate, this account offers some notable features and high points.

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Key features

The Credit Union SA Children's Savings Account is a great account for those under the age of 18 who want to start saving regularly. This account has a no minimum deposit amount, however to score the 1.20% special interest rate, savers must make at least one monthly deposit with no withdrawals otherwise the rate drops to a lower rate of 0.05%. As well as this, the Childrens Saving Account has no account keeping or transaction fees attached, which is great for any young saver.

This savings account is easily accessed through both internet and phone banking, and with ATM access and free over the counter withdrawals, this account is a great first step to introduce kids into the world of saving.

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Who is it good for

This account is great for young savers who are only just being introduced to meeting bonus requirements and who are able to take advantage of a great interest rate while only needing to put small amounts away every month.

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Any catches

Savers must have the discipline to make at least one deposit and no withdrawals each month each month otherwise the account’s interest interest rate drops down to 0.05%.

Details

Rates and fees information correct as at 14 June 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.05% p.a.

  • Balances from $0: 1.20% p.a.
    Balances from $50,000: 0.05% p.a.

  • Minimum one deposit and no withdrawals in the month

Fees
  • $0.00

  • n/a

  • Unlimited internet and phone banking transfers to Credit Union SA accounts.

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • yes

  • none

  • yes

  • no

  • yes

  • yes

  • no

  • yes

  • yes

  • no

  • yes

  • none

  • none

  • Under 18

Customer Reviews

How are Credit Union SA savings accounts rated by the Mozo community?

Overall
8.3/10
Price
7.6/10
Features
6.7/10
Customer service
8.8/10
Convenience
7.9/10
Trust
8.6/10
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About Credit Union SA

Credit Union SA is a credit union providing its financial services to the South Australian region. Credit Union SA offers a wide range of financial products and services in credit cards, savings accounts, personal loans, home loans and car insurance. Credit Union SA pride themselves on providing excellent customer service and friendliness through all their financial products.

See Credit Union SA savings accounts