One of the most important gifts we can give a child is their very own bank account. One of the most important lessons we can teach a child is the habit of saving. Both will last them a lifetime.
With no management or monthly account keeping fees, BCI’s “My First Saver” account is designed for children up to 16 years of age. It rewards you and your child with competitive interest rates, more so if you stay on track and don’t dip into their savings.
My First Saver account features a tiered interest rate relative to the account balance and rewards you and your child for higher savings. You can also make savings easier by nominating this account to receive your Child Benefit payments, and deposits through our school banking programme.
Banking Account - Fees
|Monthly Fee :||$0|
|Passbook :||1 Free|
|Re-issue Passbook :||$20|
|Early withdrawal :||$50|
Banking Account - Interest Incomes
|Balance up to $99 :||2.00% pa|
|Balance over $100 - $499 :||3.30% pa|
|Balance over $500 :||3.75% pa|
|Balance over $500,000 :||0.00% pa|
Banking Account - Access Method
|Branch Access :||Yes|
|ATM/EFTPOS Access :||No|
|Cheque Book :||No|
Banking Account - Key Features
|Availability of funds :||Limited access, designed as a long term savings account for a child|
|Minimum to open :||$10|