Bank of Queensland Kids Savings Account
Bonus rate
It's never too early to teach kids to save! Encourage the right saving behaviour for children under 14 with a children's savings account held in their name. Make one withdrawal a month and still earn Bonus Interest variable rate. Start earning high interest from the first dollar. Deposit only access for the linked child. Manage the account on your internet banking.
- Base rate up to
- 0.05%
- Introductory rate
- None
- Maximum balance
- None published
Rate with bonus, up to
Rates by balance
| Balance | Base rate | Bonus | Total |
|---|---|---|---|
| Any balance | 0.05% | +1.20% | 1.25% |
How to earn the bonus
Calculated daily and paid monthly.
Who can open it
- Age to open
- Up to 14
- Maximum balance
- None published
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
1.25%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
0.05%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
Nothing stands out.
Cons
- A lower rate. Up to 1.25%, below the typical 3.65%, so your savings grow more slowly than in many other accounts.
- A low base rate. Only 0.05% in any month you miss the bonus conditions.
- Conditions for the bonus. Calculated daily and paid monthly. Miss them in a month and you earn the base rate.
- An age limit. Only for people up to 14.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 1.25%
- Bonus conditions
- None
- Most it pays
- 1.25%
- Bonus conditions
- None
- Most it pays
- 1.25%
- Bonus conditions
- None
