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Learning how to save money is a vital skill for all children. By opening an interest-earning savings account for your child, you can help them understand the value of a dollar and how they can use interest rates and a disciplined savings approach to build a bigger savings balance. The First Saver Account from Bank First is a savings account that teaches Aussie kids how to save.
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Product Name | Bank First First Saver Account |
---|---|
Maximum Variable Rate | 0.6% p.a. |
Standard Variable Rate | 0.30% |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
Minimum Age | 1 |
Review by
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
Available to applicants under the age of 18, it combines competitive tiered interest rates with no account-keeping or transaction fees to ensure that your child’s pocket money goes towards saving for a secure financial future.