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Kids savings accounts

  • Good money habits begin at home and a high interest children's savings account with low (or no) fees is a great way to teach your kids the value of money and help them off to a flying start.

  • What impact can a high interest rate have on small starting amounts?

    The impact of compound interest can be very powerful over time! Putting just $5 a week into a children's savings account earning 6% interest for 18 years would reach a total of $8,543 and earn a total of $3,751 in interest.

  • Try our savings calculator and see for yourself how a kids bank account could help your kids off to a great start.

  • How else can I teach my kids good money habits?

    Money habits are learned at home and that means the good and the bad. Talk openly with your kids about money, offer them ways to earn pocket money by helping out around the house and encourage them to save for the things that they want by setting up a kids savings account . The result - you won't have to reach into your pocket every five minutes for the latest toy and your children will learn the value of earning and saving money - and that there isn't just a limitless supply! You could find their rooms are a little tidier too.

  • Can I apply online for a kids savings account?

    You sure can! After you have compared all the kids savings accounts and found the best savings account for your child's needs, just click through on the blue 'go to site' button next the kids savings account of your choice.

Savings account comparisons on Mozo Rates updated daily

  • Westpac Reward Saver (under 12)

    Westpac Reward Saver (under 12)

    • Earn bonus interest each month you deposit and don't withdraw
    • No monthly fees
    • Free withdrawals (when a withdrawal is made the variable bonus rate won't apply)

    special rate

    1.85% p.a. (for $0 and over)

    Minimum one deposit and no withdrawals in the month

    standard interest rate

    0.01% p.a.(for $0 and over)

    ages

    Under 12

    Go to site

    More info

    • Earn bonus interest each month you deposit and don't withdraw
    • No monthly fees
    • Free withdrawals (when a withdrawal is made the variable bonus rate won't apply)
    • Conditions: Minimum one deposit and no withdrawals in the month
    • Account fee: $0.00
    • Minimum balance: $0.00
    • Access: Branch access
    Overall rating

    7.9

    Based on 1602 Westpac savings account reviews

    Need more information?
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    More info

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