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
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.
