CUA Youth eSaver

4.00% p.a.(for $0 to $5,000)

No Current Offer

 

CUA Youth eSaver Review

Review published: 13 July 2018

What's hot:

  • 4.00% interest rate (under $5,000)

  • Ages 10-17

What's not:

  • 1.00% interest (over $5,000)

Mozo snapshot:

If you’re looking for a high interest rate on a teens savings account, you’d be hard pressed to find one better than the 4.00% offered by CUA Youth eSaver. This is account is only for people between 10-17 years old and 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 very high 4.00% 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.

How are CUA savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
8.0

Based on 155
CUA savings accounts reviews

7.5 7.1 8.1 7.5 8.3

Read CUA savings account reviews by the Mozo community

Latest reviews of CUA Youth eSaver

CUA

CUA Youth eSaver savings account review

Overall rating   5 / 10

Amazing customer service need better rewards

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

Full review

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

Less

Maddi (NSW), reviewed over 2 years ago

CUA

CUA Youth eSaver savings account review

Overall rating   9 / 10

Best interest rate.

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

Full review

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

Less

Nathalie (QLD), reviewed over 2 years ago

CUA

CUA Youth eSaver savings account review

Overall rating   7 / 10

Interpersonal and relatable

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.

Full review

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

Less

John (VIC), reviewed over 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Balances from $0: 4.00% p.a.
    Balances from $5,000: 1.00% p.a.

  • none

  • n/a

Fees

  • $0.00

  • none

  • Unlimited free transactions from phone and internet.

  • none

  • none

  • none

  • $0.00

  • none

  • none

  • $0.00

  • $0.00

  • none

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.

  • $50 bonus cash for first 200 new accounts opened before 28 September 2018. Converts to an eSaver Plus account at age 18.

  • under 17

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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