Young Achievers Savings Account

It's never too early to start saving and teaching your child to save is one of the most important lessons they’ll ever learn. That’s why Geelong Bank has a Young Achiever Savings Account that rewards good savings habits by paying a bonus^>.

Earn up to 3.10% pa

Product Features:

Savings Accounts Features
Funds Available :	At Call
Minimum Amount :	$1
Branch Access :	Yes
ATM/EFTPOS Access :	No
Direct Entry (Credit/Debit) :	Credit Only
Statements :	6 monthly June and December
Interest Calculation :	Calculated daily, paid monthly

YAS Young Achiever Savings Account (S50)

Balance	Interest Rate (p.a.)
$1 or more	1.30% pa
Bonus	1.80% pa
Earn up to	3.10% pa

Interest calculated daily and paid monthly.

This account is available for kids and teenagers under 18 years of age
Access by internet, our mobile banking app or over the counter
Make a deposit and no withdrawals per calendar month to qualify for Bonus.
Deposits: Funds may be deposited into the Achieve Saver Account via direct credit, Internet and our mobile banking app

FAQs

Read our most frequently asked questions below or view all our FAQs.

Do I have to be a member to open an account?

Geelong Bank is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Part of the membership process is to open an account.

What is the Financial Claims Scheme?

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA).

In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

Young Achievers Savings Account