Defence Bank Cadet Saver
No conditions on the rate
Created especially for young cadets aged 12 to 17 years, our Cadet Saver account will have you and your savings looking good.
- Base rate up to
- 5.25%
- Introductory rate
- None
- Maximum balance
- None published
Rate a year, up to
Rates by balance
| Balance | Base rate |
|---|---|
| Any balance | 5.25% |
Who can open it
- Age to open
- 12 to 17
- Maximum balance
- None published
Who it's for
- Created especially for cadets aged 12 to 17 years, our Cadet Saver account will have you and your savings looking good.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
5.25%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
5.25%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
- A higher rate. Up to 5.25%, above the typical 3.65%. On $10,000 that's about $525 a year.
- No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.
Cons
- 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
- 5.25%
- Bonus conditions
- None
- Most it pays
- 5.25%
- Bonus conditions
- None
- Most it pays
- 5.25%
- Bonus conditions
- None
