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First Option Bank Kids Bonus Saver vs First Option Bank Savings + Bonus

vs
These are open to different people: First Option Bank Kids Bonus Saver only to anyone under 18, First Option Bank Savings + Bonus to anyone.
Interest a year on $50,000, with the conditions met
$795
1.59% on this balance
$2,500
5.00% on this balance

First Option Bank Savings + Bonus pays $1,705 more a year on $50,000 than First Option Bank Kids Bonus Saver.

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Where they differThe rate (5.55% against 5.00%), the conditions on the bonus, how much of a balance the top rate covers and who can open it.

The same on bothNo minimum balance.

First Option BankKIDS BONUS SAVER
First Option BankSAVINGS + BONUS
Interest a year without meeting the conditions
on $50,000
$245
at the base rate
+$120 · More without meeting the conditions
$125
at the base rate
Rate on your $50,000
1.59%
blended across its tiers
5.00%
one rate on all of it
+3.41 · Higher rate on this balance
Total rate
base plus bonus
5.55%
+0.55 · Higher total rate
5.00%
Base rate
paid whatever you do
0.05%
0.25%
+0.20 · Higher base rate
Bonus rate
5.50%
with the conditions met
+0.75 · Higher bonus rate
4.75%
with the conditions met
Top rate paid up to
$10k
$250k
+$240k · Covers more of a balance
What the bonus asks each month
  1. A deposit of at least $5
  2. No withdrawals
  1. A deposit of at least $100
  2. No withdrawals
Who can open it
Anyone under 18
Anyone
Rank by total rate
9th of 114
among accounts open to under-18s
60th of 117
among accounts open to adults
Last rate change
3 June 2026
up 0.25
No change
since 24 Sep 2026

Rates over time

Each account's total rate, a cell a week. A move shows as ▲ or ▼ in the week it happened.

First Option Bank Kids Bonus Saver
Go to siteMore about this account
First Option Bank Savings + Bonus
Go to siteMore about this account

As of 2 November 2026, First Option Bank Kids Bonus Saver pays 5.55% with its monthly conditions met, and First Option Bank Savings + Bonus pays 5.00% with its monthly conditions met. On $50,000, that's $795 against $2,500 a year, $1,705 more from First Option Bank Savings + Bonus. Figures are the banks' published rates, worked out on the balance above. Each row says which figure is higher; it doesn't say which account suits you.

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