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Spriggy is a mobile app with a linked prepaid card which helps Australian parents and their kids to manage their money together and track their progress in a fun, interactive app.
Try the app for free for 30 days. Sign up online in 2 minutes or less by clicking the "Go to site" button.
Your child is rewarded with bonus interest when they meet conditions such as making no withdrawals and at least one deposit every month.
Bank account | Variable bonus interest rate | Conditions for earning bonus interest rate |
---|---|---|
Commonwealth Bank Youthsaver Account | 0.6% p.a. | Make at least one deposit to the account and have no withdrawals during the calendar month. |
People’s Choice Young Saver Account | 1.1% p.a. | Deposit at least $5 and make no withdrawals during the calendar month. |
Suncorp Kids Saving Account | 0.95% p.a. | Deposit at least $20 and make no more than one withdrawal during the calendar month. |
Bankwest Kids’ Bonus Saver | 4.25% p.a. | Deposit between $25 - $250 and make no withdrawals. Child must also have a linked Bankwest Children's Saving Account in his or her name. |
These bank accounts for kids work in much the same way as a regular no-fee bank account.
Bank account | Variable interest rate (if applicable) |
---|---|
Westpac Choice for Under 21s – for people 12 years and older | 0% |
Bendigo Bank Student Account | 0.05% |
CUA Everyday Youth Account | N/A |
Commonwealth Bank Smart Access Account | N/A |
Kids savings accounts pay a flat rate of interest and feature online, telephone and branch account access.
Bank Account | Variable interest rate |
---|---|
Bendigo Bank PiggySaver Account | 0.15% |
P&N Way Cool Saver | 1.1% |
There are many different types of kids bank accounts available to open. Make sure you spend time reading about these different types of accounts so you open the right one for your child.
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