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Savings Accounts and Term Deposits

Children's Savings Account

Our Children’s Savings Account has taken out Mozo’s Expert Choice Award for the third year in a row and received a 5-Star Rating from Canstar. So, we can officially say it’s one of the best in Australia!

How it works

Bonus interest

Bonus interest applies each month you make a deposit of any amount and make no withdrawals. 

Saving skills

Our bonus interest helps teach children the benefits of regular saving. 

Fee free

And best of all there’s no monthly fees or transaction fees*

Who can apply? 

  • This account is for anyone under 18 years of age.
  • A parent or legal guardian over 18 years of age can to open the account on behalf of the child (either online or in person).

How to apply

Existing members

Open a child membership by following theses instructions:

  1. Download and complete this form
  2. Log into your Internet Banking
  3. Select Secure Mail from the top menu
  4. Click the orange Compose button
  5. Attach the form and a copy of the child’s birth certificate or passport to the email
  6. Address the email to <insert category/inbox> with the subject line “Child membership”
  7. Sit back and relax – we’ll open the child’s membership for you within 2 business days.

Not a member?

You can join online now and open a Children’s Saving Account through Internet Banking. Or please call (08) 8202 7777 or visit us at 400 King William Street, Adelaide.

Contact us Call us (08) 8202 7777


No transaction or monthly fees*

Free Visa Debit Card

Visa Debit Card are only available to persons aged 16 years or over.

Pays bonus interest

Every month a deposit is made and no withdrawals.^

Set up regular direct deposits

Helps earn that bonus interest!

Interest rates and fees

Product Name Interest Rate Rate + Bonus
Children's Savings Account 0.15% pa 2.80% pa
Fee Amount
Monthly Fee
There is no monthly fee on the Children's Savings Account.$0
Transaction Fee
There are no transaction fees on the Children's Savings Account*.$0

Want to do more with your money?

Outstanding day-to-day banking flexibility that’s just right for students. Your money will be at your fingertips whether you're in study mode or planning your summer holidays.

Offering the ability to earn higher returns without having to lock funds away while having no monthly account keeping or transaction fees*.

Looking for a savings account that delivers great interest no matter how many deposits or withdrawals you make? Our Netsave Account ticks every box.

Our Access Account is our fee free account with 24/7 banking, plus digital wallets including Google Pay™, Apple Pay, Samsung Pay, Fitbit Pay and Garmin Pay™.

*While no transaction fees are charged by us, a fee may be charged by the ATM operator if a card is linked to the account and transactions are performed using an ATM that is not part of the national network of rediATMs. Other fees and charges may apply.

^ Bonus interest will not be paid in the 1st month of account opening.

This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.

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