Teen Saver

Pays 5.00% p.a. with no bonus conditions as of 18 September 2026. Ranks 49th of 93 savings accounts tracked by BankMate, 0.14 points above the average of 4.86%. The rate last rose on 20 May 2026, 14 days after the RBA raised the cash rate to 4.35%.

5.00%p.a.

No bonus component · bonus up to $250,000 · unlimited withdrawals · variable

Go to Defence Bank

Rate over time

Total rate, conditions met

Teen Saver
RBA cash rate
Market average

Position among 93 accounts

By month, end of month

Apr 2026: ranked 42 of 88
May 2026: ranked 37 of 91
June 2026: ranked 46 of 91
July 2026: ranked 48 of 92
Aug 2026: ranked 48 of 92
Sept 2026: ranked 49 of 93

Apr 2026

Top 5%
Top 10%
Top 25%
Lower

This month

Mostly outside the top half of accounts over the last 6 months: from #37 of 91 in May 2026 to #49 of 93 in Sept 2026.

Changes

1 on record since 2 Apr 2026

20 May 2026
4.75 → 5.00Base rate · 14 days after the RBA rise to 4.35%
+0.25

Conditions

Checked each month

Balance range: $0 - $250,000
Age: 12-17 years

On your balance

Saved with your preferences

Your balance$

Interest this year: —
Each month: —
Against the average account (4.86%): —

Rate by balance

Up to $250k

5.00%

Notes from savers

to leave a note.