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Bank of Sydney Student Savings Account

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Open a Bank of Sydney Student Savings Account to access your money easily and also earn interest.

You can open a Bank of Sydney Student Savings Account if you’re under 18 years of age. Funds in your account earn interest at a competitive flat variable rate. Opening this account requires as little as $1. If you’re 14 to 18 years old you get access to a Visa debit card.

0.35% p.a.

Maximum variable rate

0.35% p.a.

Base interest rate

$1

Minimum opening balance

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Details

Product NameBank of Sydney Student Savings Account
Maximum Variable Rate0.35% p.a.
Standard Variable Rate0.35%
Bonus Variable Rate0.00%
Monthly Account Fee$0
Minimum Opening Deposit$1
Minimum Age14

Key features

Minimum opening balance

Opening this account requires no more than $1.

Interest

A flat variable interest rate applies to balances in Student Savings Accounts. This rate currently stands at 0.35% p.a. Calculation of interest happens on an everyday basis, and it credits to your account monthly.


How to apply

Eligibility

You can apply for the Student Savings Account by visiting your nearest Bank of Sydney branch. To use the bank's online branch locator, visit the Bank of Sydney website. Before you apply, establish if you meet the required eligibility criteria:

  • Age requirement. You can apply for this account if you're under 18 years of age. Account holders under the age of 14 years don't get access to the Visa debit card.
  • Residency requirements. You're an Australian resident and have an Australian residential address.

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2 Comments

  1. Default Gravatar
    Oksana
    August 29, 2016

    Hello,

    Do you open a USD saving account or it can be only AUD? And if yes what are the fees?

    Thanks

    • Avatarfinder Customer Care
      Clarizza
      August 30, 2016

      Hi Oksana,

      Thanks for your comment. I have responded to you with some information on the NAB Classic Banking page.

      Clarizza

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