Encouraging kids to keep saving with bonus interest.
To open a NAB Smart Junior Saver for your child:
- call us on 13 13 12 from 8am-8pm Mon-Fri, or 9am-6pm on weekends (AEST/AEDT)
- visit us in any NAB branch.
We'll need to see identification for your child, like a birth certificate and Medicare card.
Overview
Especially for kids under 18, the NAB Smart Junior Saver teaches the value of regular savings by offering:
- a free money box
- unlimited deposits
- bonus interest each month there are no withdrawals and at least one deposit (before the second-to-last banking day of the month)
- no monthly account fees
- no minimum opening balance
- quarterly statements that graph your child's saving progress.
Interest and fees
Both the base interest rate and the bonus interest rate are variable.
We calculate interest daily and pay it monthly. If your child earns bonus interest, we calculate it using their daily closing balance throughout the month.
To earn the bonus interest, make no withdrawals and at least one deposit in the month. (We need to receive the deposit on or before the second-to-last banking day of the month.)
Fees
No monthly account fees or transaction fees (but remember that withdrawals stop us paying the month's bonus interest).
Access
You and your child can access the account through
- NAB Internet Banking
- NAB Telephone Banking (13 22 65, 24 hours a day, 7 days a week)
- any NAB branch