People First Bank / Heritage Bank Youth Target Bonus Account

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Youth Target Bonus Account is a savings account from People First Bank / Heritage Bank. It pays 4.50% p.a. in a month in which the conditions below are met and 0.01% when they are not.

Rate tiers

Every balance band in the bank's feed: base is the rate when the bonus conditions are not all met, bonus the add-on for meeting them, conditional the two together.

The bonus is paid on top of the base rate in a month in which the conditions are met; conditional is the two together, and the base rate is what is paid otherwise.

The feed states no cap on the balance that earns the bonus.

The feed states a minimum balance of $1.

Conditions

For the bonus rate

• no withdrawals in the month

Other conditions

• not updated by the bank since 2026-10-31, before the Reserve Bank's cash rate rise of 4 November 2026; check its page, as the rate may have changed
• for children under 17, opened in branch by a parent or guardian; the parent operates it until the child turns 12
• the bonus rate needs at least one deposit as well as no withdrawals in the month

Features

app

yes

transactions

unlimited

Other features, in the bank's words:

• Electronic or Physical statements provided
• $0 account keeping fees
• Backed by the Government Deposit Guarantee for deposits up to $250,000
• SMS Services

Fees, limits and who can open it

monthly fee

no monthly fee stated

minimum balance

$1

interest paid

monthly

interest calculated

daily

open to

personal customers

age limited

open only to people of certain ages (kids, youth or seniors accounts)

About this account

Help your child establish good saving habits with a Heritage Kids Bank Account.

Data

• People First Bank / Heritage Bank's own page for this account.
• The bank's documents its product record links to: terms and conditions, fees, eligibility.
• Our verbatim snapshot of the bank's product record (source), as fetched on 31 October 2026.
• We read the bank's own page and terms against this page on 1 November 2026: kids-bank-account, target-bonus, guide-to-deposit-products, fees-and-limits-guide; conditions they state and its feed does not are listed above.
• /au/finance/savings-accounts/v1/brands/people-first-and-heritage-bank.json: this bank's accounts and every balance band as JSON; People First Bank / Heritage Bank's page lists them.
• The bank last updated this record on 31 October 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.

Other accounts at People First Bank / Heritage Bank

• Community and Business Saverstale savings account, 1.60% base at $50,000
• Dream Fundstale savings account, 5.55% conditional at $50,000
• Online Saver Accountstale savings account, 3.45% base at $50,000
• Target Bonus Accountstale savings account, 4.50% conditional at $50,000
• Business Access Accountstale transaction account, 0.01% base at $50,000
• Community and Business Accessstale transaction account
• Everyday Accountstale transaction account
• Simply Access Transaction Accountstale transaction account, 0.01% base at $50,000
• Youth Simply Access Transaction Accountstale transaction account, 0.01% base at $50,000

All of People First Bank / Heritage Bank's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.