CUA Youth eSaver

3.50% p.a.(for $0 to $5,000)

No Current Offer

CUA Youth eSaver

3.50% p.a.(for $0 to $5,000)

No Current Offer

Mozo Review   CUA Youth eSaver Review

Last updated: 9 October 2019.

What's hot:
  • 3.50% interest rate (under $5,000)

  • 2019 Mozo Experts Choice winner

  • Ages 10-17

What's not:
  • 1.00% interest (over $5,000)

Mozo snapshot:

If you’re looking for a competitive interest rate on a teen savings account, you’d be hard pressed to find one better than the 3.50% offered by CUA Youth eSaver. In fact, the Mozo judges thought it was one of the best around - awarding it a 2019 Mozo Experts Choice Award for best Pocket Money Saver. 

This is account is only for people between 10-17 years old and it comes with no fees. However, keep in mind that if you have over $5,000 in the account, the interest rate will drop to 1.00%.

Key features:

If you or your child are looking to make a bumper return on your savings, then the CUA Youth eSaver can help do just that. If the account has under $5,000 in it, it’ll come with a high 3.50% interest rate, which at the moment is higher than any interest rate you’ll be able to find on an adult account. The flipside is once the account balance goes over $5,000 the interest rate drops to only 1.00%.

As the CUA Youth eSaver account is a youth account, you’ll only be able to have one if you are between the age of 10-17 years of age, but the good news is you can throw any concerns about fees wearing down your savings stash, as it comes with no fees at all.

Lastly, don’t be afraid that your account will disappear once you turn 18, as the account will automatically be converted to a CUA eSaver Reward.

Who it's good for:

The CUA Youth eSaver is good for anyone between 10-17 years old, looking to get a leg up as they jump into the world of savings accounts.

Any catches?

Once your account has over $5,000, your interest rate will drop to 1.00%, at which point it may be worth considering alternative youth savings options.

Details

Rates and fees information correct as at 10 December 2019. 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: 3.50% p.a.
    Balances from $5,000: 1.00% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from phone and internet.

  • n/a

  • n/a

  • n/a

  • $0.00

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $1.00

  • $1.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • yes

  • no

  • Child must be aged 10-17 and sole account owner. Max 1 Youth eSaver account per eligible child. Must link to a transaction account.

  • none

  • 10 to 17 years

Customer Reviews

How are CUA savings accounts rated by the Mozo community?

Overall customer rating
8.2/10
Price
7.6/10
Features
6.9/10
Customer service
8.3/10
Convenience
7.7/10
Trust
8.4/10

Latest reviews of CUA Youth eSaver

  • Overall
    5/10
    Amazing customer service need better rewards

    I like the bank overall just need to fix a few things like rewards or interests

    I like the bank overall just need to fix a few things like rewards or interests

    Price
    6/10
    Features
    6/10
    Customer service
    6/10
    Convenience
    4/10
    Trust
    6/10

    Maddi | New South Wales

    reviewed over 3 years ago

  • Overall
    9/10
    Best interest rate.

    I love how you can use your card at any rediATM in Australia without paying a fee.

    I love how you can use your card at any rediATM in Australia without paying a fee.

    Price
    8/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    9/10

    Nathalie | Queensland

    reviewed almost 4 years ago

  • Overall
    7/10
    Interpersonal and relatable

    I like this bank because they have my best interest; they use different methods of saving that...

    I like this bank because they have my best interest; they use different methods of saving that allowed me to save more money rather than it going into bank fee.

    Price
    5/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    7/10
    Trust
    9/10

    John | Victoria

    reviewed about 4 years ago

CUA

About CUA

CUA is Australia's largest credit union and an alternative to the big banks, offering financial, health and insurance solutions to over 500,000 Aussies. As a mutual, it's run by members for members, and reinvests in making its service better for customers and supporting local communities. CUA is committed to helping members through life's big changes, so if you want to make a change for the better, check out CUA's range of home loans, personal loans, credit cards, savings accounts and more.

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