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Arab Bank Australia Best Buddies Account

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Teach your child the value of money with a Best Buddies account linked to the Arab Bank School Banking program.

The Best Buddies Account is for children less than 18 years of age. Arab Bank Australia starts the account with a small complimentary deposit of $5. Account holders can make subsequent deposits at any time. There are $0 account keeping fees.

0.01% p.a.

Maximum variable rate

0.01% p.a.

Base interest rate

$1

Minimum opening balance

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Details

Product NameArab Bank Best Buddies Account
Maximum Variable Rate0.01% p.a.
Standard Variable Rate0.01%
Bonus Variable Rate0.00%
Monthly Account Fee$0
Minimum Opening Deposit$1

Key features

$5 bonus for opening the account

You don't have to make any initial deposit to open this account. At the time of account opening, Arab Bank Australia credits a gift deposit of $5 into the account. Once the account is open, there are no limitations how often you have to make deposits.

$0 Minimum balance requirement

This account comes with an ongoing minimum balance requirement of as little as $0.

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How to apply

Applying for the Best Buddies Account requires that you visit an Arab Bank Australia branch. To find out where the nearest branch is, you simply have to visit the Arab Bank Australia website.

Eligibility

Before you apply, make sure you meet the required eligibility criteria:

  • Maximum age. You should be less than 18 years of age.
  • Residency requirements. You should be a resident of Australia.

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