First Option Kids Bonus Saver Summary
Description
KIDS BONUS SAVER
Benefits
- No monthly savings-account fee.
Hoops
- Available to ages 0 to 17.
- For bonus interest, deposit at least $5 each month. Check the full requirements below.
- Withdrawals can forfeit bonus interest.
- Ongoing rate cap: $10,000. See the rate breakdown for higher balances.
On this page
Details
Key details
| Product name | First Option Kids Bonus Saver |
|---|---|
| Maximum variable rate | 5.55% p.a. |
| Ongoing interest rate | 5.55% p.a. |
| Base interest rate | 0.05% p.a. |
| Minimum age | 0 years |
Source: noren.com.au
All comparison details
| Base | 0.05% |
|---|---|
| Ongoing | 5.55% |
| Ongoing cap | $10K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 1 |
| Dep $/mth | $5 |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | 0 |
| Min age | 0 |
| Max age | 17 |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 0.05% p.a., before bonus interest.
- Ongoing: 5.55% p.a. when bonus conditions are met. Up to $10k.
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 0.05% | This band only | All balances |
| Ongoing total, conditions met | 5.55% | This band only | First $10k |
| Ongoing total, conditions met | 0.60% | This band only | Over $10k |
Source: noren.com.au
Share/Export
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Requirements
- Variable annual rates calculated daily and credited monthly. Rates apply to each balance portion as expressly defined by the October provider rate schedule.
- The ordinary account keeping fee is $0. The standard membership administration fee is $5 per month, charged once per member. Fee/mth includes it unless an automatic age waiver is established. It is waived with an average monthly aggregate balance of at least $1,000, an active loan or credit card, age 25 or under, or the first three months of membership. A selected balance alone does not prove the monthly average.
- Optional paper statements cost $3 per statement, waived under age 12, this is not a mandatory monthly account fee. Dormant accounts over 12 months can incur $75 annually. Current fee documents supersede stale CDR age-21 and $2.50-per-month paper-statement wording.
- Deposit at least $5 in the calendar month and make no withdrawals or outgoing transactions. No purchase or additional balance-growth condition. Otherwise the ordinary base rate applies. The source omits these qualification rules, they are independently established by the current rate schedule and account summary.
- No debit-card access, online/app access. The entire balance is not assigned the highest rate: lower and excess portions retain their respective rates.
- The membership administration fee is waived by age. Current rate schedule pays the first $10,000 and excess portions at their respective qualifying totals, base applies on all portions when bonus conditions fail.
- Qualification timing: Requirements are assessed in the current month. Check the settlement deadlines and exclusions in the requirements.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with First Option.
- Personal Australian-resident scenario. Membership, subscription for a member share and identity checks are required.
- Under 18, including age 17. No minimum age under the current kids page. Parent/guardian controls for younger children, the TMD says child online/app access is unavailable under 12. The account converts to Savings + Bonus at 18.
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Sources & review
Noren aggregates information from multiple primary sources to ensure you're getting the most up-to-date, accurate information. All product information is peer reviewed.
Collected and verified on 1 Nov 2026.