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Developing a good savings habit when you’re young can not only help you build a bigger bank balance, but it can develop the money management skills you need to set you up for life. The Junior Bonus Saver Account from BDCU Alliance Bank is designed to reward under-18s for their savings discipline, by paying up to 0.75% p.a. interest every month you deposit at least $10 and do not make any withdrawals or transfers.
$10
Minimum deposit
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Product Name | BDCU Alliance Bank Junior Bonus Saver Account |
---|---|
Maximum Variable Rate | 0.75% p.a. |
Standard Variable Rate | 0.10% |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
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.
There are no monthly fees attached to the account, allowing you to reach your savings goal quicker, while at-call access to your funds is provided via Internet and phone banking.