Suncorp Kids Savings Account

Suncorp Kids Savings Account

Maximum Variable Rate


Standard Variable Rate


Start putting your dollars away in a different type of bank and see how quickly bonus interest can fatten up your savings

  • Up to 2.60% p.a. when at least $20 is deposited across the month and if no more than one withdrawal is made each month
  • No monthly fee and no Suncorp bank fees
  • Easy access of your funds through internet, telephone and mobile banking
  • Available up to 18 years of age

Product details

The Suncorp Bank Kids Savings Account is designed for Australian children under the age of 18 to learn the value of stockpiling spare change for the future. Kids have the chance to earn bonus interest on top of the base rate every month with this versatile account that does not eat away at your savings with fees.

With online banking tools exclusive to Suncorp you can set goals and then monitor your saving progress.

Product Name
Suncorp Kids Savings Account
Maximum Variable Rate
2.60% p.a.
Standard Variable Rate
1.40% p.a.
Bonus Variable Rate
1.20% p.a.
Introductory / Bonus Offer Conditions
Bonus interest is earned when at least $20 is deposited across the month and if no more than one withdrawal is made each month.
Monthly Fee
Minimum Opening Deposit
Minimum monthly deposit for bonus interest rate
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
No Minimum Age
Maximum Age Requirement
Age Conditions
Under 18 years of age applicant need to have parent or guardian supervision.
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the Suncorp Kids Savings Account?

There are a number of Australian banks who now have customised accounts to get kids started on saving for the future. Compare the features of those various accounts with the Suncorp Kids Savings Account to help you in determining where your child’s money is getting the most benefit.

A competitive, variable interest rate of 2.60% when you deposit at least $20 and make no more than one withdrawal

To reward kids for savings, Suncorp will award a bonus interest rate when the above conditions are met. Otherwise, a standard rate of 1.40% will apply for that month.

How do I earn interest?

Every cent of your deposited money will earn interest at a base rate. For each month that you deposit at least $20 and make only one withdrawal from the account you will be rewarded with a competitive bonus interest rate. Interest is calculated daily on the balance and paid into the account monthly. The interest rate is variable, which means it could change according to the movements of the RBA cash rate.

Available for children under the age of 18

If you are under 11, a parent or guardian must give you permission to open the account. Once you turn 18, the account will automatically be converted to a Suncorp Everyday Basics Account.

Access through phone, Internet and mobile

The Suncorp Kids Savings Account can be accessed through telephone, online and mobile banking as well as inside of a branch. You will need to transfer the money to another Suncorp transaction account and then withdraw it as you normally would, or at a Suncorp branch.

How do I deposit into the account?

Electronic credits can be set up for no charge, or you can deposit cash and/or cheques at your local Suncorp branch.

$0 Account keeping fees

With this account you are not charged any monthly fees. There are no fees for making withdrawals or deposits, not even when they are made in all spare change.

Education and teaching tools

Suncorp Bank has established a special website where kids and parents can learn the value of saving and how to conduct basic banking transactions. Among the activities are tools to help set and monitor savings goals, keep records of how much has been saved, instruction on how to transfer money between accounts, make donations, and games to play. If you like the features of these accounts it might be a good idea to look over some of the other Suncorps Accounts, including ones designed specially for students, retirees and almost anyone else who wants to save more money.

To see how much interest you will actually earn, in real dollar amounts, you might also consider using a savings calculator to compare accounts in detail.

Launch savings calculator


  • $0 account keeping fee
  • Easy access of your funds through internet, telephone and mobile banking
  • Bonus interest is offered to account holders with minimum deposit of $20 and only 1 withdrawal is made during the month


  • Children under 11 years of age require consent from their parents.

How do I apply for the Suncorp Kids Savings Account?

Due to the specific nature of this account you must apply in person at a Suncorp Bank branch.

Before heading out, make sure that you are able to meet the following eligibility requirements.

  • Minimum age. Only children under 18 are eligible for this account. If you are under 11 you will need to provide parent or guardian consent before the account can be activated.
  • Residency requirements. You need to be an Australian resident with a residential address in order to be able to apply for this account.
  • Depository requirements. There is no minimum deposit requirement to meet when activating the account, yet do keep in mind that in order to earn your bonus interest you need to deposit at least $20 each month.

Documentation for your application

Before going to the Suncorp Bank branch you will also need to bring with you some documentation that will help in filling out the application.

  • Tax file number. Your tax file number (TFN) or TFN exemption code is used to make sure that you are not being subject to withholding tax on your interest earnings.
  • Identification. In order for an account to be opened solely in your name, you will need to bring a copy of your Australian birth certificate and if possible a photo identification documents.

What happens after I apply?

The Suncorp Bank representatives will go over the documents you provide along with the application before activating the account in your name. Once activated you may begin to make your deposits into the savings account.

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20 Responses

  1. Default Gravatar
    FVDBOctober 9, 2018

    I would like to open a kids saver account, but am based in Alice Springs where we have no local branch. How can I open a kids saver ?

    • finder Customer Care
      JohnOctober 9, 2018Staff

      Hi FVDB,

      Thank you for leaving a question.

      Yes, you would still be able to open a Kids Savers account with Suncorp but for you to start the application process you would need to apply for it in person at a Suncorp Bank branch. Hope this helps!


  2. Default Gravatar
    MelanieAugust 15, 2018

    for the Suncorp Kids account does the child need to be a resident in Australia?

    • finder Customer Care
      JohnAugust 16, 2018Staff

      HI Melanie,

      Thank you for leaving a question.

      Yes, the Suncorp Kids Savings account require that the child needs to be a resident in Australia.


  3. Default Gravatar
    TinaAugust 1, 2018

    What does “Joint” mean? Does this mean I can open one account for two children?

    • finder Customer Care
      NikkiAugust 1, 2018Staff

      Hi Tina!

      Thanks for leaving an inquiry on our page.

      For Suncorp Kids Savings account, as per the terms and conditions of the card:

      If the Child is under 11 years of age:
      — A parent/guardian must give their consent to opening the account;
      — The parent/guardian will have full access to operate the account. The Child is not
      permitted to transact on this account.

      If the child is 11 years of age or older, the account can be opened and operated on by the
      Child either solely or as a shared account (JOINT) with a parent/guardian.

      Only 1 child is allowed per Kids Savings Account.

      Hope this clarifies!


  4. Default Gravatar
    TrevorMarch 8, 2018

    Does the account have an debit or ATM card option?

    • finder Customer Care
      AshMarch 9, 2018Staff

      Hi Trevor,

      Thank you for visiting finder.

      Unfortunately, the Suncorp Kids Savings Account does not have a Debit Card with it. You may withdraw the needed money by transferring it through another Suncorp Transaction Account which has a Visa Card for easy access.

      I hope this helps.

      Let us know if there is anything else that we may assist you with. Enjoy the rest of your day!


  5. Default Gravatar
    AndreaMarch 6, 2018

    Can I open an account for a grandchild, and what documents would I need when i go into a branch to open the account, ie, what documents would i need for myself and my grandson

    • finder Customer Care
      MayMarch 7, 2018Staff

      Hi Andrea,

      Thank you for your inquiry.

      Your grandson can actually open an account under his name. You can be his guardian when applying if he’s under 11 years of age, so he needs your consent for him to open account. So that’s the only document you’d need for yourself. But if you also like, you can bring a valid ID in case the bank may ask. The birth certificate of your grandson is also needed. If the boy is under 16 years old, he’s not required to bring TFN, though ensure the account is marked “Under 16 – TFN Exempt”.

      Meantime, if you also want to check some other children/kids savings account, please check this guide.

      Hope this helps.


  6. Default Gravatar
    FionaFebruary 28, 2018

    Am I able to open a Suncorp kids savings account online- no branches near us?

    • finder Customer Care
      JhezelynMarch 3, 2018Staff

      Hi Fiona,

      Thank you for your comment. It looks like Suncorp Kids Savings Account is not available for application online that’s why you’re advised to visit the nearest branch near you. This is because some documents might be needed and a parent/guardian consent must be given prior to opening the account. Best to contact Suncorp directly too so they can provide you advise on what to do next.


  7. Default Gravatar
    JoostJanuary 15, 2018

    Is this up to 18 years of age or 11? It says 11 in the pros and cons


    • Default Gravatar
      ArnoldJanuary 16, 2018

      Hi Joost,

      Thanks for your inquiry

      The age limit for this account is 18 years of age. We have amended the pros and cons to avoid confusion among our users.

      Hope this information helps


  8. Default Gravatar
    DevonDecember 14, 2017

    Hi. Is there a maximum deposit amount per month or year? for example can I deposit $1000 or more each month?

    • finder Customer Care
      JhezelynDecember 14, 2017Staff

      Hi Devon,

      Thank you for your comment.

      For the cash deposits, you can make up $9,999.95 per day. As long as you deposit at least $20 into the account each month and no more than one withdrawal is made each month, then you will be paid for the bonus interest. In addition, regarding withdrawals, you will be able to make of up to $1,000 cash per day. I hope this helps.


  9. Default Gravatar
    DanielJuly 20, 2017

    I’m confused by the information on this page, the Maximum Age Requirement and product details state it is available for Australian children up to 18 years of age but under pros and cons it states only available for children up to the age of 12 years old?

    • finder Customer Care
      HaroldJuly 20, 2017Staff

      Hi Daniel,

      Thank you for your inquiry.

      Bank Kids Savings Account is designed for Australian children under the age of 18. That means the maximum age requirement is 18 years of age. However, if the account holder is under 18 years of age applicant need to have parent or guardian supervision.

      I hope this information has helped.


  10. Default Gravatar
    ShanMcDJuly 11, 2017

    Hi, Do you have to make a withdrawal every month? Can you use this account solely to deposit into and make no withdrawals?

    • Default Gravatar
      JonathanJuly 13, 2017

      Hello ShanMcD!

      Thanks for your comment. :)
      Absolutely! In fact, this account gives you bonus interest if you don’t make more than one withdrawal in a month.
      Please check its Product Disclosure Statement located on its website or call Suncorp Hotline for further clarification.

      Hope this helps.


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