Youth eSaver Account
Features & benefits
Designed especially for kids up to 17 years old^, our Youth eSaver Account offers a generous interest rate without monthly fees.
$0 monthly fees
No monthly account fees, no online and mobile banking transaction fees, and no telebanker transaction fees.
Access your money – keep your interest
Dip into your Youth eSaver savings when you need to without affecting your interest rate.
Generous interest rates
Earn a 2.40% p.a. variable interest rate** on balances up to $5,000 and receive regular monthly interest payments.
Contribute easily
Your family and friends can pay birthday or pocket money directly into the Youth eSaver Account.
Rename your accounts
Add a personal touch to your banking with an account nickname. It's a great way to help manage your finances.
Manage your accounts in one place
Send super-fast payments via online and mobile banking with the New Payments Platform (NPP).
Rates & Fees
For further information and details, see all Schedule of Fees, Accounts, and Access Facilities and Terms & Conditions.
Interest rates on balances
up to $5,000
2.40
%
p.a.
over $5,000
1.00
%
p.a.
How it works
- A maximum of one Youth eSaver account per eligible child.
- A child under 10 must have a parent or guardian open and operate the account as a signatory. The child cannot personally transact on the account.
- Once the child turns 10 years of age, the child can remove a parent or guardian as a signatory, or remove their authority to obtain account information, at any time.
- Parents or guardians can be given signatory access or third-party authority to obtain information on the account if required.
How to apply
The process
1. Ensure you are eligible to apply
There are a few eligibility requirements you should be aware of before applying for a Great Southern Bank Youth eSaver Account.
2. Apply online
It should take about five minutes. You will need proof of ID.
3. Make your first deposit
Pay in some money to get your new account up and running.
4. Watch your savings grow
Set aside your savings in your Great Southern Bank Youth eSaver Account and earn a high interest rate.
Eligibility
Are you eligible?
- Must be aged up to 17 years and be the sole account holder
- If under 10 years, a parent or guardian must authorise the account opening and be listed as a signatory on the account to transact on behalf of the child
- Must be an Australian resident with an Australian address
What you need to apply online
- An email address and a contact number
- Existing Great Southern Bank customer number (if you already bank with us)
- Proof the signatory is the parent or legal guardian of the child (Medicare card, birth certificate or legal guardianship documents)
- Child's Medicare card, birth certificate, Australian passport or driver's licence
You might also be interested in
Everyday Youth Account
An everyday account for 10 to 17-year-olds
Important Information
Rate current as at 17 December 2021 and subject to change.
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. This is general information and does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information, including the Terms and Conditions (T&Cs) booklet, before acting on it. The Financial Claims Scheme may apply to this product; refer to the T&Cs for more information.
** Rate applies on a stepped basis. Interest paid at 2.40% p.a. on balances up to $5,000, then at 1.00% p.a. on that portion of the balance over $5,000.
^ Great Southern Bank Youth eSaver account converts to a Great Southern Bank eSaver Flexi account once you turn 18 years old.
To view the Target Market Determination for this product, please click here.
New account application
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Important Information