A special savings account with big interest for small people

A dedicated high-interest savings account exclusively for under-18 members, designed to help kids save up for something they want.


Deposit a minimum of $5 per month (pocket money!) without making a withdrawal and you will earn 5.55% p.a. interest on balances up to $5,555.


5.55% p.a. is the total of the base interest rate (0.05% p.a.) plus the bonus interest rate (5.50% p.a.).

Kids' Bonus Saver accounts can have their own PayID so parents (and grandparents!) can directly contribute to kids' savings via an email address or a mobile phone number, without needing an account number and BSB. 

There's no Visa debit card attached to our Kids' Bonus Saver accounts in order to encourage good saving habits.

A linked 'everyday' account with a Visa debit card (digital and plastic) can be included in kids' memberships. 

Kids Bonus Saver accounts can be linked to their parents' internet banking if they are also First Option members, so they have visibility over the kids' savings, and spendings. Alerts can also be set up (email or SMS) for real-time notifications of deposits and withdrawals. 

  • No minimum initial deposit
  • Variable interest rates
  • Balances over $5,555 will earn only the base interest rate of 0.05% p.a.
  • Internet banking and Mobile Banking App access


Email for more info

Open a Kids Bonus Saver account


Government Guarantee

Deposits in First Option Bank savings accounts are protected by the Australian Government Financial Claims Scheme – up to a total of $250,000 per member. This provides you exactly the same protection as the same type of accounts offered by the major banks. Read more about the Deposit Guarantee on the APRA website here.