Huggies Forum

  1. home
  2. Baby Forum
  3. General Baby Topics
  4. General Discussion
  5. Starting a savings account for dd.

Starting a savings account for dd. Lock Rss

We are doing comparisons on the best bank to open a savings account for dd but I wouldn't mind seeing which banks other mums have found to be the best. I've been with the same bank all my life and want to change my accounts as well but am still deciding on the best deals. Hope everyone has been doing well. smile I haven't been on here very much these days.

I'm considering looking at Suncorp, there's a lot more banks than I realised. Lol.

We just opened our kids account with the bank we were already with. I didn't bother looking around for deals though it's probably a good idea.

I like small banks like Heritage, Bendigo, BOQ, St George etc

Forever, for always and no matter what

We just keep the kids accounts with whoever we're banking with, makes it easier to link with our accounts for transferring money. Started with CBA and recently refinanced our mortgage with NAB so changed all the kids accounts too. I think both banks had a bonus interest incentive if you deposited a minimum amount each month.
I looked around and NAB were pretty good with their bonus interest. We have our accounts with smaller building societies but one of the pitfalls is we have no branch nearby. Most of our banking is electronic so not an issue but for dd we keep a money box and figure her birthday cash etc can be deposited so I wanted a bank with a local branch. NAB do something like 1% interest and a bonus 4% if you deposit monthlya nd don't withdraw.

To be honest I don't think they're is one that is overall the best. I lock my kids accounts for 24 months collect the interest and after the 24 mths I change banks to the best deal of the day basically.
Thankyou for all the responses. I will investigate the options you've all suggested. PAIRS, I do like the idea of earning off the interest. This is going to be a pure savings account for dd. We won't be making an withdrawals unless it's absolutely necessary. smile

I just opened one through my online banking with BankSA (St George). It was free and she earns interest. We pop a few $s in there each week smile Pretty happy with it!


Both of my kids have an account with suncorp. When DS was younger he had one with commonwealth and he earnt hardly any interest at all. Suncorp has been great and they get bonus interest if a minimum of $20 is deposited in a month. That's who I bank with so it's easy to transfer money into their accounts.



Sign in to follow this topic