Kids' accounts

A special savings account with big interest for small people

A dedicated high-interest savings account for under-18s designed to help kids save for something they want.


Deposit $25 per month without making a withdrawal and earn bonus interest up to 3.8% p.a. on your balance up to $5,000. 

Kids' Saver accounts can have their own PayID so parents (and grandparents!) can directly contribute to savings via an email address or a mobile phone number, without needing an account number and BSB. 

There's no Visa debit card attached to our Kids' Saver accounts in order to encourage good saving habits. A linked 'everyday' account with a Visa debit card (digital and plastic) can be included in kids' memberships for their pocket money management. 

Kids Saver accounts can be linked to parents' internet banking so they have visibility over the kids' savings, and spendings. 

  • No minimum initial deposit
  • Variable interest rates
  • Bonus interest tiered structure optimised for $0 - $5,000 balances
  • Bonus interest conditions – minimum deposit of $25 per month and no withdrawals, otherwise only the base interest is earned: 0.05% per annum. 
  • Internet banking and Mobile Banking App access 
  • Daily transaction limit without SMS One Time Password = $250
  • Daily transaction limit with SMS One Time Password = $5,000
  • Osko single transaction limit = $1,000


3.80% p.a.  


Government Guarantee

Deposits in First Option Bank savings and investment accounts are insured by the Australian Government Financial Claims Scheme – up to a total of $250,000 per member. This provides you exactly the same protection as you would get from the major banks. Read more about the Deposit Guarantee on the APRA website.