A savings account that rewards kids for saving and gives parents the tools to help educate their kids about money.
- Unlimited free Suncorp Bank transactions with no monthly account keeping fee
- Option to earn bonus interest every month1
- Free educational tools and games with our Suncorp Bank Kids website
| Access |
Learning to save and spend responsibly is important for kids to learn. We make it easy to deposit and withdraw your savings when you need to. Choose to access your money with:
Kids over 12 years old can open and manage their own account or parents and guardians can choose to have sole or shared access to the account. |
| Eligibility |
You’re eligible for a Kids Savings Account if:
Once you turn 18 years old we’ll automatically change your savings account to an everyday transaction account called Everyday Basics where you’ll continue to benefit from no monthly account keeping fee. |
| Keeping track of your account |
|
Interest Rates
Interest is calculated daily and paid into your account monthly. To reward kids for saving, bonus interest is paid when at least $20.00 is deposited in the account and no more than one withdrawal is made each month.
Kids Savings Account
| Minimum Balance | Standard Rate | Bonus Rate | *With Bonus Interest |
|---|---|---|---|
| $0.01 and over | 1.50% p.a. | 4.00% p.a. | 5.50% p.a. |
Interest is calculated daily and paid monthly.
* Bonus interest rate of 4.00% p.a. is paid when at least $20 in combined deposits is made each month, and when no more than one withdrawal is made per month.
Fees at a glance
| Monthly account keeping fee | Nil |
|
Suncorp Bank Transactions
|
Free Free Not available Not available Not available
|
| Using other bank's ATMs | Not available |
| Direct Credits and Debits | Not available |
| Dishonour fee | Nil |
| Payment honour fee | Nil |
Earn bonus interest
To reward kids for saving, bonus interest is paid when at least $20.00 is deposited in the account and no more than one withdrawal is made each month.
Tools that help you teach kids about money
We understand that teaching kids about money is important. That’s why we’ve created a website for parents and kids to use together that makes learning about money easy and fun.
You can:
- Set a goal and keep track of it with “Set your goal”;
- Keep a record of how much you’ve saved with “Start Saving”;
- Put money towards your goal with the “Move Money” tool;
- Make a donation to a charity of your choice with “Start Giving”;
- Download work sheets that explain different aspects of banking;
- Play cool games; plus
- Access educational information for parents and guardians.
Check out the Suncorp Bank Kids website.
What you’ll need to apply
Opening an account with us is easy when you know what you need. See what information and personal identification we use to open up your new account.
Things you should know
1. Bonus interest is earned when at least $20.00 is deposited across the month and if no more than one withdrawal is made each month.
2. Interest rates subject to change without notice.
Banking Products issued by Suncorp Metway Ltd (“Suncorp Bank”) ABN 66 010 831 722. Please read the Product Information Document before making any decisions regarding this product. Visit your nearest branch or call 13 11 75 for more information. Terms and Conditions apply and are available on request. Fees and charges may apply.