Kids Savings Account
Teach kids to save with a BOQ Kids Savings Account
At a glance
$ 0
Account keeping fees
2.75 %P.A.^^
Variable Base Rate + Bonus Interest Variable Rate*
$ 0
Minimum monthly deposit
Why choose our Kids Savings Account
Encourage the right saving behaviour for children under 14 with a BOQ Kids Savings Account held in their name. You can reward your kid's savings efforts with high interest, and teach them to take ownership of their own account.
High interest rates
Receive a high rate of interest on your kid’s savings account
Linked to your account
Linked parents or guardians have full access to the account
Safe keeping
Your child can make branch deposits, but all other account access by your child is restricted
Deposit book
Kids receive their own deposit book and wallet to track their savings
Personalised statements
Kids receive statements in their name, so they can watch their savings grow
Earn bonus interest
Reward good savings habits with bonus interest for saving, without withdrawing more than once a month*
| Balance | Variable Base interest rate % p.a. | Variable Base + Bonus Interest rate % p.a.* |
|---|---|---|
| $1 to $4,999 | 0.05 | 2.75 (base rate + 2.70% p.a. bonus interest) |
| $5,000 to $49,999 | 0.05 | 2.75 (base rate + 2.70% p.a. bonus interest) |
| $50,000 and over | 0.05 | 2.75 (base rate + 2.70% p.a. bonus interest) |
Bonus interest will be paid in addition to the base rate if no more than one (1) withdrawal is made during a calendar month. Calculated daily and paid monthly**.
Fees
| Features | Applicable Fees |
|---|---|
| Minimum Monthly Balance | Nil |
| Account Maintenance Fee | Nil |
| Monthly Card Fee (Visa Debit) | Nil |
| Teller Withdrawals | Nil |
| BOQ ATM/eftpos withdrawals/transfers | 1 free then $0.65 each |
| Internet Banking Funds Transfer to your BOQ Account or BPAY | 1 free then $0.30 each |
Single Pay Anyone (Third party BOQ account or other financial institution transfer) |
$0.65 each |
| Multi Payment | $1.50 for up to 10 payments then $0.19 for each additional transaction |
~Other fees (including other bank ATM and International Transaction fees) and charges may be payable. Please view the Personal Banking Guide to Fees and Charges for more details.
Important information
For important information on the Kids Savings Account, view the Terms and Conditions.
We can also help with:
Fixed term interest rates and no account fees
Term Deposits
Rewarding you with higher interest on balances over $5,000. Enjoy the security of a fixed rate for your nominated term.
We’re receiving a high volume of online applications at the moment, so it might take us a little longer than usual to get your account ready for you. Please be assured we’ll process your request as quickly as possible.
- Flexible terms from just 1 month
- Minimum investment of just $1,000
- Choose how and when you receive interest payments
Everyday banking with no monthly fees
Everyday Account
Our simple, intuitive everyday transaction account, made even better for you with user-friendly features that help you make the most of your money.
- Access your money whenever you need, exclusively on the all-new myBOQ mobile app. Please note: As an app-exclusive account, it cannot be accessed via Internet Banking.
- Managing your money has never been easier, with in-app spend tracking to help you budget better and bill tracker to give you a heads up when bills are due.
- Fast, easy payments. Pay or be paid instantly with PayID.
- Open an Everyday Account directly within the myBOQ app and start banking with BOQ today!
