The Bankwest Kids Saver is a savings account specifically designed for children and young adults. It is a great way for kids to learn about saving money and managing their finances at an early age.
One of the key features of the Bankwest Kids Saver is that it has a competitive interest rate, which means that the money in the account will earn a higher rate of return than it would in a regular savings account. This can help kids to see the benefits of saving their money and encourage them to continue saving in the future.
The Bankwest Kids Saver also has no monthly fees, which means that kids can save their money without worrying about incurring any additional costs. This can help to make saving more accessible and appealing to kids, especially those who may not have a lot of disposable income.
In addition to these financial benefits, the Bankwest Kids Saver also has a number of educational resources and tools available to help kids learn about money management. This includes budgeting tips, financial literacy resources, and games and activities designed to teach kids about saving and spending wisely.
One of the best things about the Bankwest Kids Saver is that it is available to children and young adults of all ages. This means that kids can start learning about saving and managing their money at an early age, which can set them up for financial success in the future.
Overall, the Bankwest Kids Saver is a great tool for helping kids to learn about saving money and managing their finances. It has a competitive interest rate, no monthly fees, and a range of educational resources and tools to help kids develop good financial habits.
Bankwest kids savings account
Once i was old enough and working, i opened up a high interest savings account and started saving. Products compared may not compare all features and options that may be relevant you. While Mozo attempts to make a wide range of products and providers available via its site it may not cover all the options available to you. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product. You should confirm any information with the product provider and read the information they provide. Some lenders will allow you to open a kids savings account online while others may require you to visit a local branch. A term deposit paying 6% p.
It seems that you have to set up a kids account for each child then another of this 10% account for each child. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. These conditions generally include making regular deposits and avoiding withdrawals. By providing you with the ability to apply for an insurance quote or a credit facility we are not guaranteeing that your application will be approved. Is it because they generally have no fees? Best, Nikki Why you can trust this review At Finder, we value and respect our editorial independence. Rates and fees verified as correct at 7 January 2023. I believe Bankwest Kid saver account currently offer the highest interest rate - 7%.
So before you do anything, do a quick google. A standard variable interest rate of 0. Sure, the bank offers the highest interest rate on the market for young savers, but the account comes with one big, fat asterisk. We have a commercial marketing relationship with these providers. You should not act on the basis of anything contained in this article without first obtaining specific professional advice. I looked into this for my kids. What happens after I submit my application? We provide tools so you can sort and filter these lists to highlight features that matter to you.
Banks are covered by a Government Deposit Guarantee. And remember to get bonus interest on one of the three above accounts, you still need make regular deposit once a month. Show more You are about to post a question on finder. If InfoChoice refers you to a provider, you will be dealing with that provider directly and not with us. Any month that you need to dip into your savings you will receive our standard variable rate.
Bankwest savings account comparisons for January 2023
We try to take an open and transparent approach and provide a broad-based comparison service. Whilst you will not see interest added to your offset account which i guess is a psychological need, it may be working just as hard if not harder for you and your kids. Target Market Determinations can be found on the provider's website. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service. You will receive a confirmation email after applying and your account will be opened immediately if you have provided all of the necessary information. We may sort or promote the order of these products based on our commercial arrangements. It can be viewed as a family bank but now that I'm an adult and I have take more responsibility in looking at the pros and cons of the features.
Key features The Bankwest Smart eSaver account is an exclusively online savings account designed to get you serious about saving. We may receive fees and commissions from product providers for services we provide as detailed below. Fact-checked Checked for accuracy by our qualified fact-checkers and verifiers. I had no bankers like Sue in my life and it makes me feel that I am in the right bank. Bankwest savings accounts Bankwest can help you reach your monetary goals with their selection of savings accounts.
But if all Bankwest wanted was to teach kids that banks aren't their friends: job done. Hope this helps and feel free to reach out to us again for further assistance. Show more How to apply If you have found that this account has the features you need to meet your savings needs, you can apply easily online in under 15 minutes. Other information correct at the time of writing. We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not. Give us a call on From the age of 11, your child can open an Easy Transaction Account in their own name.
I would like Sue to get some of recognition for the amazing work that she is doing. With no account keeping fees and no monthly deposit requirements, there's no pressure to put away money, you can do it as often as you like you'll just need to leave you savings be to get the highest interest rate. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Find out more about On the surface, the Bankwest Kids' Bonus Saver account's 5. Important Information Although we cover a range of products, providers and services we don't cover every product, provider or service available in the market. InfoChoice will not accept liability for incorrect information. If not, you will be informed of the next steps you need to take in order for Bankwest to issue the account in your name.