Get the Finder app 🥳

Track your credit score, free

Free

Bankwest Children’s Savings Account

Last updated:  

Get your kids on the right savings track early with an account that encourages them to tuck their pocket change away.

Designed for Australian children under the age of 15, the Bankwest Children’s Savings Account pays a competitive rate of interest so that kids can see how fast their money can grow. There are no fees eating away at the savings, and parents are able to quickly access the account through online banking or over the phone.

0.01% p.a.

Maximum variable rate

0.01% p.a.

Base interest rate

Details

Product NameBankwest Children's Savings Account
Maximum Variable Rate0.01% p.a.
Standard Variable Rate0.01%
Bonus Variable Rate0.00%
Monthly Account Fee$0
Minimum Opening Deposit$0

Key features

Monthly account keeping fee

You will not be charged any account keeping fees with the Children's Savings Account.

Interest rates

The interest rates for this account are variable and tiered to give you the most value for higher balances.

TierInterest rate
$0 to $2,999.990.01% p.a.
$3,000 to $9,999.990.05% p.a.
$10,000 to $19,999.990.45% p.a.
$20,000+1.25% p.a.

Launch savings calculator


How to apply

The Bankwest Children's Savings Account gives you a lot to consider when it comes to setting up your kids' financial future. If you think that these features give you the most benefit, you can apply for the account by visiting a local branch or over the phone.

Eligibility

Before making the trip to Bankwest, check to ensure that you are able to meet the eligibility requirements:

  • Minimum age. Account holders must be aged 15 or younger, while the assigned signatory for the account needs to be at least 18 years of age.
  • Residency requirements. Australian residents who have an Australian residential address can apply.

Ask an expert

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

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

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 Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site