Hume Bank Clancy Koala Account

Hume Bank Clancy Koala Account

Maximum Variable Rate

2.50

Standard Variable Rate

0.01

Teach your kids good saving habits and earn up to 2.50% interest with this account.

  • No account keeping fees
  • High variable bonus interest rate
  • Part of Hume's school banking program

Product details

This account is ideal for your kids first savings account, to teach them the fundamentals of saving and good financial habits from a young age, and is available to kids 11 years old and under. By depositing a small amount each month and making no withdrawals, the account will earn the high variable bonus interest rate and you and your child can watch the balance grow. Another benefit is there are no account keeping fees.

This account also allows your child to earn rewards for their school through Hume's school banking program, which over 50 schools participate in.

Product Name
Hume Bank Clancy Koala Account
Maximum Variable Rate
2.50% p.a.
Standard Variable Rate
0.01% p.a.
Bonus Variable Rate
2.49% p.a.
Introductory / Bonus Offer Conditions
Bonus interest rates of 2.49% in addition to the current base interest rate of 0.01% when $10 or more has been deposited and no withdrawals are made.
Monthly Fee
$0
Minimum Opening Deposit
$1
Minimum monthly deposit for bonus interest rate
$10
Internet Banking
Yes
Phone Banking
Yes
Maximum Age Requirement
11
No monthly fee with free internet, mobile and phone banking.

Be rewarded with bonus interest for making a small deposit each month. You can make a deposit through school banking, in your local Hume Bank branch or online via internet banking.

Pros

  • No monthly fee
  • Internet and mobile banking
  • Competitive bonus interest rate

Cons

  • Only available for kids aged 11 or under

This account is available for kids aged 11 and under. In many cases this account can be opened directly via any of the 50+ schools partnering in Hume's School Banking Program. Alternatively, you will need to visit your local Hume Bank branch with your drivers licence and your child's birth certificate.

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