First Option Bank Kids Bonus Saver
Bonus rate
A savings account from First Option Bank, paying up to 5.55% a year when you meet the bonus conditions.
- 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 |
|---|---|---|---|
| $0 to $10,000 | 0.05% | +5.50% | 5.55% |
| $10,000 and over | 0.05% | +0.55% | 0.60% |
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
5.55%
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
- A higher rate. Up to 5.55%, above the typical 3.65%. On $10,000 that's about $555 a year.
- 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
- 5.55%
- Bonus conditions
- None
- Most it pays
- 5.55%
- Bonus conditions
- Yes
- Most it pays
- 5.50%
- Bonus conditions
- None
