In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

First Option Bank Kids Bonus Saver

  • Avatar
First Option Bank Kids Bonus Saver
Maximum variable rate
5.55% p.a.
Base interest rate
0.05%p.a.
Minimum deposit
$5

Our verdict

Your child can earn a high interest rate and develop good savings habits with the First Option Bank Kids Bonus Saver.

The First Option Bank Kids Bonus Saver is for children under the age of 18. It's an account designed to encourage good saving habits.

To earn the maximum rate of 5.55% on this account you only need to deposit $5 a month.

Pros

  • High rate
  • No minimum opening balance

Cons

  • Very low base rate if you don't meet conditions

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

Details

Key details

Product Name First Option Bank Kids Bonus Saver
Maximum Variable Rate 5.55% p.a.
Standard Variable Rate 0.05% p.a.
Monthly Account Fee $0

Key features

Maximum variable interest rate of 5.55%

This account's maximum interest rate is one of the higher offers on the market. But if you don't meet the monthly deposit requirement then you only get a rate of 0.05%.

Deposit requirement

To get the maximum rate you'll need to deposit $5 a month.

Minimum and maximum balance

There is no minimum balance for this account. However, you can only earn the maximum interest rate on balances of up to $5,555.

Account fees

This account has no fees.

Features

The Kids Bonus Saver does not come with a debit card. It's designed for saving. But you can link a transaction account with a debit card and transfer money between accounts.


How to apply

Eligibility

The First Option Bank Kids Bonus Saver is for a child under the age of 18 who is an Australian resident.

The parent or guardian will need to provide a phone number and email address.

There are other eligibility criteria that may apply.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Richard Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site