Kids Savings Account
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Australia has the strongest banking regulatory system in the world – all banks (including Police Bank), building societies and credit unions meet exceptionally high standards on capital, liquidity, risk management and governance as set down by the regulator, APRA. Under the Banking Act deposits in all Australia’s banks (including Police Bank), building societies and credit unions are safe.
Terms & Conditions
1. The interest rate of 3.75% p.a., is if the account has no withdrawals and minimum deposits of $20 are made within a month, and has a balance of $500 or more.
*Bonus rate of interest applies if no withdrawals and a minimum deposit of $20 are made within a month.
^ Child must be aged 12 or older to be eligible for a Redicard.
# Child must be aged 12 or over. If child is aged 12-16, they have View Only access. From 16 and over, child has full internet access.
†The Account will automatically transfer to a Bonus Saver Account (S23) when the Member turns 18 years of age.