Kids can get over 6% on savings

Children’s savings accounts have healthier interest than standard savings accounts.

Suncorp executive manager of deposits Craig Fenwick says there are a growing number of children's savings accounts being opened this year. The average account balance is about $1500.

The best bonus saver account for children attracts 6.01 per cent interest. The best bonus saver account for adults is currently paying 4.76 per cent.

Source: Herald Sun