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Key features

  • No fees or charges – at all

  • Learn, save, grow

    As your child grows, we’ll be with them every step of the way.

  • No credit cards

    Teaching kids to save before they learn to spend.

  • Easy access

    Funds can be accessed via Internet Banking, the LLL app or a passbook.

Open an LLL Children's Savings Account today


  • A variable interest rate. Interest is calculated on daily balances and added annually.
  • Internet Banking, LLL app and/or passbook facilities available.
  • No minimum deposit or balance.
  • No fees or charges – at all. Funds always accessible, with no penalties for withdrawing money at any time.
  • LLL accounts can be accessed in a variety of ways.

Learning to save can be easy with an LLL Children’s Savings Account.

The LLL encourages children to learn, save, grow.
Learn financial literacy skills that will set them up for life.
Save for a goal and budget to share or spend.
Grow in their personal knowledge and wealth.

Unlike other kids’ bank account providers, we won’t offer a credit card when they turn 18. We prefer to instill the mindset of learning to save before they learn to spend.

An LLL Children’s Savings Account is in the child’s name but the person opening the account for the child is listed as the guardian of the account. As the guardian, you can then contact the LLL and relinquish guardianship when that time arrives for them to step into adulthood or earlier if you so desire. A child may open an account in his or her own name after their 12th birthday.

Many parents and grandparents open an LLL Children’s Savings Account when a baby is born but an account can be opened at any time. As they grow up, these savings accounts provide a great way to introduce kids to saving, whilst building them a nest egg.

The LLL will be there to support your child as they learn, save, grow. Additionally, ASIC’s Money Smart Families webpage has many resources relating to financial literacy and may be a useful reference as your child grows through different stages of life (childhood, pre-teen, working-age and adulthood).

LLL Australia is a charitable Authorised Deposit-taking Institution (ADI) in Australia and is regulated under the Banking Act and by APRA. By operating an LLL Savings Account you are supporting the LLL in aiding the Lutheran Church of Australia and its local and international mission.

Open an LLL Children's Savings Account today

Read LLL’s commitment to Children’s Savings Accounts


*Interest rate is subject to change. **The $5 deposit is paid into the first account opened in the child’s name.

Additional account services