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Young Saver Account

Help kids establish good habits for saving and spending.

The Young Saver is great for teaching your child about the fundamentals of money.

$0 - $5,000 5.50 % p.a. Interest rate

 Australian Mutual Bank has won the Gold award for Best Kids Savings Account for our Young Saver Account in 2022.

The RateCity Gold awards celebrate banks, lenders and credit unions that offer consistently competitive products to Australian consumers. The winners of the awards score consistently as top performers based on RateCity's extensive methodology.

The top 10 percent in each category are awarded a RateCity Gold Award - a signal to consumers that this product is one of the best options in market.

  • Access to the account is available via the mobile banking app, internet banking, and branch facilities
  • No transaction fees (internet banking, or mobile banking app transactions)
  • No over-the-counter withdrawal fees (under $5,000)3

Product Features:

Young Saver Account
Minimum amount : $0
Funds available : Yes
Online Banking : Yes
Direct Entry (Credit/Debit) : Credit and Debit
Interest income : Interest is calculated on the daily balance and paid monthly.
Branch access : Yes
Visa Debit Card : Yes
Fees
Annual fee : $0
Monthly fee : $0
Young Saver Account Rate p.a.
$0 - $5,000.00 5.50% p.a.
$5,000.01 - $10,000.00 2.50% p.a.
Portion above $10,000.00 0.01% p.a.

View all our Savings products

View all our Savings Interest rates

View the Target Market Determination for this product

Looking for more information?

Enquire about our Savings Accounts and Term Deposits. Reach your goals sooner.

 

 

Privacy

The Privacy Act requires us to tell you about how we collect and use your personal information before we collect it. We explain this in our Privacy Notification which is available here.

Why choose Australian Mutual Bank?

  • 100% Customer owned

    On becoming a member of our bank, you're not just a customer, you're an owner!

  • Ethical banking

    The benefit of our members, society, and the planet drives everything we do

  • Friendly service

    Our number one goal is to give you the best overall banking experience we can

  • Safe and secure

    Eligible deposits are protected by the Financial Claims Scheme

Footnotes:

  • 1 Interest is calculated daily on the portion of the balance which falls within each of the tiers and paid monthly on the last day of the month unless otherwise stated. This is a savings account available to members aged 12 to under 18 years. The account is also available to adults with a child or children under 12 years of age, where the membership is owned and operated by the parents’ or guardians. At the age of 12, the child can apply for their own membership at Australian Mutual Bank. Only one account per child. Any accounts held under a parent or guardians name will therefore be required to be closed.
  • 2 Eligibility on access facilities may apply depending on the child's age.

3 Large cash withdrawal fees may apply. Please refer to the Fees & Charges and Transaction Limits schedule for details. Does not include Bank@Post fees.

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Australian Mutual Bank acknowledges the Traditional Owners and Custodians of the land where our office is located in Surry Hills, Sydney as the Gadigal people of the Eora Nation. We further acknowledge the Traditional Owners and Custodians of Country from where our members and employees reside.

We extend our deep respect to Elders, past and present, and emerging Community leaders for maintaining enduring connections that protect and care for Country for a sustainable future.

Disclosures | Security | Privacy | BSB: 611 100

Any advice or information on this site does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please review Australian Mutual Bank Ltd Account and Access Facility Conditions of Use and Financial Services Guide before acquiring the product.

© Australian Mutual Bank Ltd | ABN 93 087 650 726 | Australian credit licence 236476 | AFSL 236476.