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 1.10% special interest rate, this account offers some notable features and high points.
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 1.10% 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.
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.
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%.
| Balances from $0: 0.05% p.a. | |
| Balances from $0: 1.10% p.a. | |
| Minimum one deposit and no withdrawals in the month |
| $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 |
| $0.00 | |
| $0.00 | |
| Monthly |
| yes | |
| none | |
| yes | |
| no | |
| yes | |
| yes | |
| no | |
| yes | |
| yes | |
| no | |
| yes | |
| none | |
| none | |
| Under 18 |
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.10% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Bank of Queensland
WebSavings Account
1.00% p.a. (for $2,000 and over)
0.05% p.a.(for $2,000 and over)
Yes up to $250,000
ING
Savings Maximiser
1.35% p.a. (for $0 to $100,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.10% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Serious Saver
0.30% p.a. (for $0 to $1,000,000)
0.15% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
ING
Savings Maximiser
1.35% p.a. (for $0 to $100,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
0.35% p.a. (for $0 and over)
Yes up to $250,000
Newcastle Permanent
Smart Saver
0% p.a.(for $0 and over)
1.20% p.a. (for $0 and over)
Yes up to $250,000
Auswide Bank
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
1.25% p.a. (for $0 and over)
Yes up to $250,000