Getting a good deal on a kid?s savings account can be tricky, so how do parents make sure they?re getting the best deal?
When it comes to kids? savings accounts, the good news is that there is plenty of healthy competition. It?s possible for kids to earn interest rates – on at least some of their money – that their parents can only dream about. Getting the best deal, though, means checking what?s available at least every few months and reading the terms and conditions of the chosen account carefully.
So what types of deals are available for kids? Here are a couple of examples at the time of writing – with the traps to watch out for – from the Canstar database:
Some account features for parents to keep an eye on include:
Sifting through the terms and conditions can be a great learning experience! You can find out more on how to find the right youth account for your kids here.
Canstar’s 2022 Outstanding Value – Junior & Youth Banking Awards recognise the institutions offering outstanding value to Australian consumers through their suite of junior and youth banking products.
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