Children's Savings Account Rewarding positive saving habits to help them on their way
Bonus interest and fee-free
The Children's Savings Account is perfect for children under the age of 18 wanting to start regular saving, and young adults who’ve just landed their first job.
It pays bonus interest at the end of any month in which at least one deposit is made, and there have been no withdrawals. Interest is calculated daily and paid monthly and best of all – there are no fees*.
Either the child can set up the account, or an adult on their behalf.
No transaction or monthly fees*
Free Visa debit card
For young adults 16 and older.
Pays bonus interest
Every month a deposit is made and no withdrawals.
Set up regular direct deposits
Helps earn that bonus interest!
Interest rates and fees
|Product Name||Interest Rate||Rate + Bonus|
|Childrens Savings Account||0.25% pa||3.25% pa|
|There is no monthly fee on the Children's Savings Account.||$0|
|There are no transaction fees on the Children's Savings Account*.||$0|
How we can help
*While no transaction fees are charged by us, a fee may be charged by the ATM operator if a card is linked to the account and transactions are performed using an ATM that is not part of the national network of rediATMs. Other fees and charges may apply. This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.