This account is ideal for your kids first savings account, to teach them the fundamentals of saving and good financial habits from a young age, and is available to kids 11 years old and under. By depositing a small amount each month and making no withdrawals, the account will earn the high variable bonus interest rate and you and your child can watch the balance grow. Another benefit is there are no account keeping fees.
Hume Bank Clancy Koala Account
- Maximum variable rate
- 5.00% p.a.
- Base interest rate
- 0.01%p.a.
- Minimum deposit
- $10
Our verdict
Teach your kids good saving habits and earn up to 5% interest with this account.
This account also allows your child to earn rewards for their school through Hume's school banking program, which over 50 schools participate in.
Pros
-
No monthly fee
-
Internet and mobile banking
-
Competitive bonus interest rate
Cons
-
Only available for kids aged 11 or under
Details
Key details
| Product Name | Hume Bank Clancy Koala Account |
| Maximum Variable Rate | 5.00% p.a. |
| Standard Variable Rate | 0.01% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $1 |
Key features
No monthly fee with free internet, mobile and phone banking.
Be rewarded with bonus interest for making a small deposit each month. You can make a deposit through school banking, in your local Hume Bank branch or online via internet banking.
How to apply
This account is available for kids aged 11 and under. In many cases this account can be opened directly via any of the 50+ schools partnering in Hume's School Banking Program. Alternatively, you will need to visit your local Hume Bank branch with your drivers licence and your child's birth certificate.
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Alison Finder
Editor
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