Best Children’s Savings Accounts: Best of the Best 2020
By Money Team Published on January 14, 2020
GOLD WINNERS:
ENDEAVOUR MUTUAL (BANK)
SUNCORP BANK (MAJOR BANK)
CUA (NON-BANK)
User-friendly accounts teach kids good saving - and spending - habits
In the bank category, the Sydney-based Endeavour Mutual has a revamped product with a market-leading rate and the account can be opened online.
This is a big plus for a bank with 25 branches.
Among the non-banks, CUA keeps it simple with one great rate for balances under $5000.
Suncorp combines the best of the old with the new. It allows kids to have one withdrawal a month and still get the bonus rate, as long as they deposit at least $20 a month - a reasonable rule when some other children's accounts are particularly tough.
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