Learning how to save money is a vital skill for all children. By opening an interest-earning savings account for your child, you can help them understand the value of a dollar and how they can use interest rates and a disciplined savings approach to build a bigger savings balance. The First Saver Account from Bank First is a savings account that teaches Aussie kids how to save.
Bank First First Saver Account
![Bank First First Saver Account](https://www.finder.com.au/global/images/providers/bank-first-logo1-140px.png)
- Maximum variable rate
- 4.40% p.a.
- Base interest rate
- 4.4%p.a.
- Minimum deposit
- $0
Our verdict
Kickstart your child’s savings and teach them how to manage their money with a First Saver Account from Bank First.
Available to applicants under the age of 18, it combines competitive tiered interest rates with no account-keeping or transaction fees to ensure that your child’s pocket money goes towards saving for a secure financial future.
Pros
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No account keeping fees
-
No minimum deposit or balance needed
-
Internet and Phone banking available
Cons
-
Interest rates are lower than some other kids savings accounts
Details
Key details
Product Name | Bank First First Saver Account |
Maximum Variable Rate | 4.40% p.a. |
Standard Variable Rate | 4.40% p.a. |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
Your reviews
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Alison Finder
Editor
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