LCU Young & Free Student Account Summary
Description
An account for eligible young members, with stepped savings interest on the first $10,000 and a lower rate on the excess, paid twice yearly.
Benefits
- No monthly savings-account fee.
- No monthly activity requirements for the ongoing rate.
Hoops
- Available to ages 8 to 25.
- Ongoing rate cap: $10,000. See the rate breakdown for higher balances.
On this page
Details
Key details
| Product name | LCU Young & Free Student Account |
|---|---|
| Maximum variable rate | 5.15% p.a. |
| Ongoing interest rate | 5.15% p.a. |
| Base interest rate | 5.15% p.a. |
| Minimum age | 8 years |
Source: noren.com.au
All comparison details
| Base | 5.15% |
|---|---|
| Ongoing | 5.15% |
| Ongoing cap | $10K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | - |
| Dep $/mth | - |
| Growth/mth | - |
| Buys/mth | - |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 8 |
| Max age | 25 |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 5.15% p.a..
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Standard variable | 5.15% | This band only | First $10k |
| Standard variable | 0.01% | 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
- Interest is calculated daily and credited on the last day of June and December.
- No monthly deposit-count, qualifying deposit-dollar, balance-growth, purchase or withdrawal-count interest requirement. No introductory offer. Pricing is reviewed for comparison balances of $1 or more.
- No account-keeping, monthly or annual fees. Separate service and transaction charges may apply. Membership requires a $10 share, refunded when membership is closed.
- The higher rate applies to the first $10,000, with the On Call savings rate on the excess. The comparison uses the weighted rate across both portions, not the higher rate on the entire balance. The $1,000 cap in the CDR description is outdated, current product information, rate brochure and structured CDR tiers establish $10,000. This is an interest-rate boundary, not a maximum account balance.
- Eligibility wording differs between documents. The product page and rate brochure require full-time study at ages 8 to 25. The June 2026 TMD describes ages 8 to 18, or ages 18 to 25 in full-time study or an apprenticeship. The older account summary also restricts access to existing members and their families, while the newer TMD includes new members. Confirm study and membership requirements with LCU.
- The TMD lists debit-card, internet and app access for members over 12, subject to approval. The general card terms also reserve discretion to decline applicants under 18. Access-facility approval is separate from the account age range.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with LCU.
- LCU membership and identity checks are required. Its CDR membership criteria specify age 8 or older and referral by an existing member who is a family member or friend. Alternative eligibility includes living or working in greater Ryde, an association with Riverside Corporate or Macquarie Park, or work in a STEM industry. Confirm your membership eligibility with LCU.
- Non-residents must complete a Tax Residency Declaration. This comparison covers personal savings use.
- The reviewed account age range is 8 to 25 inclusive. Study, apprenticeship and new-member eligibility require confirmation because the provider documents differ.
More from LCU
Similar products
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 on 31 Oct 2026. Pricing verified on 29 Oct 2026.