Great Southern Bank Youth eSaver Account (0-17 year olds only)

9.6

Finder Score

Excellent

We currently don't have this product on Finder

Maximum variable rate: 4.75% p.a.
Base interest rate: 4.75% p.a.

Our verdict

Aged under 17? Earn up to 4.75% on your savings with no conditions to meet.

Finder Awards 2025 winner

A parent or guardian can open this account for a child under the age of 10, however you must act as the signatory for the account. The child can't make transactions from the account until they're 10 or older.

Pros

Access to funds without losing interest, encouraging saving while offering flexibility.

Cons

One account per eligible child, limiting flexibility for those with multiple savings goals.
Children under 10 cannot transact on the account without a parent or guardian as a signatory.

Your balance will earn a highly competitive interest rate of 4.75% for balances of up to $5,000. There are no monthly conditions to meet, and you can access your money at any time while still earning interest.

Details

Key details

Product Name	Great Southern Bank Youth eSaver Account (0-17 year olds only)
Maximum Variable Rate	4.75% p.a.
Standard Variable Rate	4.75% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$1

Key features

Availability

This account is meant for Australians between the ages of 0 and 17. If you're 10 or older, you can be listed as the only account holder. For children aged under 10 the account must be opened with a parent or guardian as a signatory.

Earn up to 4.75%

Your balance will earn a highly competitive interest rate of 4.75% for balances of up to $5,000. Interest rates are stepped so that any balance above that amount will receive a lower rate of interest. There are no monthly deposit conditions to meet and you can make withdrawals at any time.

Linked account

When you apply for the Youth eSaver Account you will also be prompted to open a Great Southern Bank Everyday Youth Account so that you can easily make transfers into and out of your online savings account.

Account keeping fees

There are no monthly fees to be paid for this account.

Accessibility

You can make transfers into and out of the account through online and mobile banking as well as over the phone. These are unlimited free transactions that include direct credits and debits, periodical payments and BPAY.

Easy deposit

Family members and friends can make deposits into the account on your behalf without a linked bank account. You are also allowed to deposit money boxes at a branch for no charge.

Interest payments

The interest is calculated on the daily balance and deposited into the account each month. The interest rate is variable, which means it could change at any time.

Minimum ongoing balance

You must maintain a minimum balance of one dollar with this account.

When you turn 18 years old

Once the account holder reaches their 18th birthday, the Youth eSaver will be automatically converted to an eSaver Plus Account. You can also take a look at other Great Southern Bank products here.

Launch savings calculator

Congratulations, Great Southern Bank!

The Great Southern Bank Youth eSaver Account (0-17 year olds only) won Best Kids Savings Account in the 2025 Finder Awards.

Full list of 2025 winners

How to apply

Completing an application for the Great Southern Bank Youth eSaver Account should take about 10 minutes.

Eligibility

You will be asked to confirm that you meet the eligibility requirements before beginning. These include:

Minimum age. Account holders must be between the ages of 10 and 17 for the Youth eSaver Account to be opened in their name.
Residency requirements. In order to be eligible you must be a permanent resident of Australia and have a residential mailing address.

Depository requirements. The minimum opening deposit amount is one dollar in order to activate the account.

Documentation needed

You will also be asked to supply certain information as you fill out the online application which can be found on the following documentation:

Tax file number. Depending on your circumstance, interest earnings can be taxed as a part of your income. Great Southern Bank is obligated to withhold tax on interest earnings in some cases, and will use your tax file number (TFN) or exemption code to ensure that they are applying the correct rate.
Identification. A primary photo identification document such as a driver's licence or passport is typically used for identification, but with minors who do not have either of these documents a school ID card or your Australian birth certificate can be used.
Third party authority. There is a section on the application that grants a parent or guardian the authority to obtain information about the account if you desire to do so.

What happens after I submit my application?

After submitting the online application you will be notified if any additional information is needed in order for the account to be activated. Once all the details have been confirmation you will receive your account number and deposit instructions so that you may begin earning interest on your savings.

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Great Southern Bank Youth eSaver Account information page
2. Great Southern Bank Youth eSaver Account TMD

Your reviews

No reviews yet. Write a review

Ask a question

To ask a question simply log in via your email or create an account.

Ask a question

Alison Finder

Editorial Manager, Money

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

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 Terms Of Service and Finder Group Privacy & Cookies Policy.

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

Rhiannon

November 12, 2025

Hello, how does the child access their savings? After they turn 10 do they receive a Debit card? And before 10, what are their options? Thanks in advance.

Richard Whitten Finder

November 17, 2025

Hi Rhiannon,

As this is a savings account there’s no card attached. Instead you can open up an Everyday Youth Account (a transaction account) which has a debit card. The two accounts can be linked and you can move money from the saving account to the transaction account via online banking or app.

Show more Show less

October 13, 2025

Hi,

Id like to open up an account for my 13 year old son but I want to put $10k into the account. I note there is a $5k limit, can I open two accounts for the same child with $5k in each?

Thanks

Sarah Megginson Finder

October 13, 2025

Hi Joe,

No, unfortunately you can only have one Youth eSaver account for any single child. But you can open multiple accounts with other banks, you can review some options here: https://www.finder.com.au/savings-accounts/kids-savings-accounts. Best of luck!

Show more Show less

Trish

August 16, 2025

Hi, am I able to open an account in my grandchildren’s name? One account each for both of them?

Thank you

Alison Banney Finder

August 18, 2025

Hi,

Unfortunately no, you can’t open this account online as a grandparent. To open this account on behalf of a child you must be the parent or legal guardian of the child. You will need to provide proof that you’re the legal guardian when applying.

Thanks,

Alison

Show more Show less

Pam

July 19, 2025

Are there charges for withdrawals from atms that are not great southern bank ATMs

Alison Banney Finder

July 22, 2025

Hi Pam,

The Youth eSaver Account doesn’t come with a debit card to use at ATMs.

If you have a Great Southern Bank transaction account that does come with a debit card, you may be charged a fee when using ATMs that aren’t owned by GSB. This fee will be determind by the ATM operator and will be presented on the ATM before you confirm the cash withdrawal.

Thanks,

Alison

Show more Show less

Jodi

May 26, 2025

Is there a debit card attached to this account?

Alison Banney Finder

May 27, 2025

Hi Jodi,

No this doesn’t come with a debit card – but the GSB Everyday Youth Account does: https://www.finder.com.au/bank-accounts/greatsouthernbank-everyday-youth-account

Thanks,

Alison

Show more Show less

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Great Southern Bank Youth eSaver Account

Pros

Cons

Key features

Availability

Earn up to 4.75%

Linked account

Account keeping fees

Accessibility

Easy deposit

Interest payments

Minimum ongoing balance

When you turn 18 years old

Congratulations, Great Southern Bank!

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

Sources

Your reviews

Important information about this website

Advertiser disclosure

How we make money

Sorting and ranking products

Terms of service and privacy policy