Police Bank Dynamo/Flex Account (Dynamo, ages 0–12) Summary
Description
Learning to save has never been so easy with Police Bank’s Dynamo children’s saving account. Receive a bonus rate of interest if no withdrawals are made and and a minimum of $20 is deposited per month.
Benefits
- No monthly savings-account fee.
Hoops
- Available to ages 0 to 12.
- For bonus interest, deposit at least $20 each month. Check the full requirements below.
- Withdrawals can forfeit bonus interest.
- Ongoing rate cap: $49,999.99. See the rate breakdown for higher balances.
On this page
Details
Key details
| Product name | Police Bank Dynamo/Flex Account (Dynamo, ages 0–12) |
|---|---|
| Maximum variable rate | 2.65% p.a. |
| Ongoing interest rate | 2.65% p.a. |
| Base interest rate | 0.40% p.a. |
| Minimum age | 0 years |
Source: noren.com.au
All comparison details
| Base | 0.40% |
|---|---|
| Ongoing | 2.65% |
| Ongoing cap | $50K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 1 |
| Dep $/mth | $20 |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | 0 |
| Min age | 0 |
| Max age | 12 |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 0.40% p.a., before bonus interest.
- Ongoing: 2.65% p.a. when bonus conditions are met. Up to $49,999.99.
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 0.40% | This band only | First $49,999.99 |
| Base rate component | 0.00% | This band only | Over $49,999.99 |
| Ongoing total, conditions met | 2.65% | This band only | First $49,999.99 |
| Ongoing total, conditions met | 0.00% | This band only | Over $49,999.99 |
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
- Deposit at least $20 in total and make no withdrawals during the calendar month. Otherwise base only.
- Base and bonus interest are capped to $49,999.99, no interest on excess portions.
- 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 Police Bank.
- Australian Citizen
- Individuals
- Australian Residents
- Dynamo: age 12 or under, with parental consent. Automatically changes to Flex at age 13.
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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 on 30 Oct 2026. Pricing verified on 27 Oct 2026.