Credit Union SA Children's Savings Account
Bonus rate
Our Children’s savings account is for anyone under the age of 18 wanting an account to save or spend. The account rewards good savings behaviours and pays bonus interest if no withdrawals are made and if a deposit is made each month.The account pays interest on up to $50,000 and any amount above this will not earn interest.
- 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% | +4.55% | 4.60% |
Who can open it
- Age to open
- Up to 17
- Maximum balance
- None published
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
4.60%
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
- No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.
Cons
- A low base rate. Only 0.05% in any month you miss the bonus conditions.
- An age limit. Only for people up to 17.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 4.60%
- Bonus conditions
- None
- Most it pays
- 4.60%
- Bonus conditions
- None
- Most it pays
- 4.60%
- Bonus conditions
- None
