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.

Kids savings account comparisons on Mozo - rates updated daily

  • ANZ Progress Saver (Kids)

    ANZ Progress Saver (Kids)

    • Earn bonus interest when no withdrawals in the month
    • No monthly account fee
    • Automated transfers from your everyday account to your savings account each month

    Maximum rate

    0.85% p.a. (for $0 and over)

    standard interest rate

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

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    Under 18

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    • Earn bonus interest when no withdrawals in the month
    • No monthly account fee
    • Automated transfers from your everyday account to your savings account each month
    • Conditions: Bonus interest when you make a single deposit of $10 or more in a month and no withdrawals
    • Account fee: $0.00
    • Minimum balance: $10.00
    • Access: Branch access, Phone banking, Internet banking
    Overall rating

    7.4

    Based on 6130 ANZ savings account reviews

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  • bcu Scoots Super Saver

    bcu Scoots Super Saver

    Maximum rate

    No Current Offer

    standard interest rate

    1.90% p.a.(for $0 to $50,000)

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    Up to 13

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    • Conditions: n/a
    • Account fee: $0.00
    • Minimum balance: $0.00
    • Access: ATM, EFTPOS, Branch access, Phone banking, Internet banking
    Overall rating

    8.2

    Based on 90 bcu savings account reviews

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  • Newcastle Permanent Smart Saver Account (under 25)

    Newcastle Permanent Smart Saver Account (under 25)

    Maximum rate

    1.80% p.a. (for $0 and over)

    standard interest rate

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

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    Under 25

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    • Conditions: Increase account balance by $10 (excluding interest) and no more than two withdrawals in the month
    • Account fee: $0.00
    • Minimum balance: $0.00
    • Access: ATM, EFTPOS, Visa Debit, BPay, Branch access, Internet banking
    Overall rating

    8.4

    Based on 342 Newcastle Permanent savings account reviews

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  • UniBank Mighty Saver Account

    UniBank Mighty Saver Account

    Maximum rate

    1.55% p.a. (for $0 and over)

    standard interest rate

    0.10% p.a.(for $0 and over)

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    Under 18

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    • Conditions: Minimum deposit of $10 and no withdrawals in the month
    • Account fee: $0.00
    • Minimum balance: $0.00
    • Access: Branch access, Phone banking, Internet banking, Bank@Post
    Overall rating

    8.5

    Based on 22 UniBank savings account reviews

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  • Teachers Mutual Bank Mighty Saver Account

    Teachers Mutual Bank Mighty Saver Account

    Maximum rate

    1.55% p.a. (for $0 and over)

    standard interest rate

    0.10% p.a.(for $0 and over)

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    Under 18

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    • Conditions: Minimum deposit of $10 and no withdrawals in the month
    • Account fee: $0.00
    • Minimum balance: $0.00
    • Access: Branch access, Phone banking, Internet banking, Bank@Post
    Overall rating

    8.4

    Based on 228 Teachers Mutual Bank savings account reviews

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  • Auswide Bank Ziggy Kids Saver

    Auswide Bank Ziggy Kids Saver

    Maximum rate

    2.01% p.a. (for $0 and over)

    standard interest rate

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

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    Under 12

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    • Conditions: Minimum one deposit and no withdrawals in the month
    • Account fee: $0.00
    • Minimum balance: $0.00
    • Access: BPay, Branch access, Phone banking, Internet banking
    Overall rating

    8.0

    Based on 92 Auswide Bank savings account reviews

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  • Bank First First Saver Account

    Bank First First Saver Account

    • Unlimited free transactions from phone, Internet & BPAY
    • $0 account fees
    • $0 minimum balance

    Maximum rate

    No Current Offer

    standard interest rate

    0.75% p.a.(for $2,000 and over)

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    Under 18

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    • Unlimited free transactions from phone, Internet & BPAY
    • $0 account fees
    • $0 minimum balance
    • Conditions: n/a
    • Account fee: $0.00
    • Minimum balance: $0.00
    • Access: BPay, Branch access, Phone banking, Internet banking, Bank@Post
    Overall rating

    9.2

    Based on 105 Bank First savings account reviews

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  • Endeavour Mutual Bank Young Saver

    Endeavour Mutual Bank Young Saver

    Maximum rate

    No Current Offer

    standard interest rate

    1.50% p.a.(for $0 to $5,001)

    Govt Deposit Guarantee

    Yesup to $250,000

    ages

    12 to 17 years

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    • Conditions: n/a
    • Account fee: $0.00
    • Minimum balance: $1.00
    • Access: BPay, Branch access, Phone banking, Internet banking
    Overall rating

    7.4

    Based on 9 Endeavour Mutual Bank savings account reviews

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