Life Saver
Conditional savings account for under 25 year olds
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Details
| Field | Value |
|---|---|
| Base | 0.00% |
| Ongoing | 5.50% |
| Ongoing cap | No cap |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 0 |
| Dep $/mth | - |
| Growth/mth | $0.01 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | - |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Interest rates & fees
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 0.00% | Whole balance | All balances |
| Ongoing total, conditions met | 5.50% | Whole balance | All balances |
Source: noren.com.au
Bonus requirements
For Life Saver, meet these requirements to earn the ongoing total rate shown above.
- End the calendar month with a higher balance than at its start, excluding interest credited during the month. Withdrawals are allowed if net growth still occurs. No interest is paid if the growth condition fails, this is a conditional total, not an unconditional base.
- Deposits/transfers must actually arrive within the calendar month, processing delays, weekends and public holidays can affect qualification. No fixed monthly deposit amount, purchase count or no-withdrawal condition.
- The schedules disclose a $15 six-monthly dormant-account fee after 24 months without qualifying activity, plus optional/special-service fees. This is not a regular monthly account-keeping fee.
Qualification timing: Requirements are assessed in the current month. Check the settlement deadlines and exclusions in the requirements.
Fees
| Fee | Amount | Details |
|---|---|---|
| Monthly account fee | $0 | Monthly account fee. |
Source: noren.com.au
Showing reviewed fees only, other charges may apply
Rate history
| Observed | Base | Ongoing | Intro |
|---|---|---|---|
| 29 Oct 2026 | 0.00% | 5.50% | - |
Source: noren.com.au
Eligibility
- In Australia with an Australian residential address and satisfactory identity checks. $1 minimum opening and ongoing balance.
- Must be under 25 when opening, but may retain the account and qualifying pricing after turning 25, no universal ongoing maximum age. Sole natural-person holders only, no joint or business operation.
- Children can open subject to the bank’s capacity checks and appointment of a benefactor where required. Benefactors are removed on the first business day after the holder turns 18. The online route has additional adult and NSW/Queensland address restrictions.
Similar products
Tools & support
Things you should know
- Check withdrawal access, linked-account requirements and transaction timing with the provider.
- Introductory and ongoing offers may have different eligibility and balance limits.
Collected on 30 Oct 2026. Pricing verified on 31 Oct 2026.