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P&N Way Cool Saver

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Set your kids on the path to success by teaching them how to save

P&N Bank has structured a savings account especially for the youngest Australians, up to the age of 15. With competitive interest earned, minimal fees and flexibility for both parent and child, this savings account can be an invaluable step on the path to good spending habits.

1.25% p.a.

Maximum variable rate

1.25% p.a.

Base interest rate

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Details

Product NameP&N Way Cool Saver
Maximum Variable Rate1.25% p.a.
Standard Variable Rate1.25%
Bonus Variable Rate0.00%
Monthly Account Fee$0
Minimum Opening Deposit$0

Key features

Age requirements

The Way Cool Saver is available from the age of zero right up until a child turns 15.

Membership required

P&N is a mutual bank and required that all account holders are also members. Members can apply on behalf of their child under the age of 12, but kids aged 12 to 15 will have to pay the $10 shareholder fee and become a member before an account can be issued in their name.

Launch savings calculator


How to apply

You can apply for the Way Cool Saver over the phone or in person at a local branch, and can request an appointment by visiting the P&N website.

Eligibility

In addition to those already mentioned above, there are some eligibility requirements that you will have to meet before you can submit an application:

  • Minimum age. Anyone up to the age of 15 can have a Way Cool Saver Account in their name. Parents or guardians are required to assist their children in applying for the account.
  • Residency requirements. In order to be eligible for this high interest savings account you must have an Australian residential and mailing address.

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