Help & support
For the portion of the balance over $50,000 and/or if the bonus criteria isn't met, the standard variable rate will apply.
Simply follow the steps below and get your child a $20 boost^
There are no monthly account or withdrawal fees on our Youthsaver account.
Earn bonus interest when you grow your savings balance each calendar month (excluding interest and transactions initiated by the Bank).
Manage online with the NetBank and the CommBank app (over 14s or parents).
All rates shown are per annum.
For bonus interest eligibility purposes, transactions initiated by the Bank are excluded, such as:
Children under 14 with an Australian residential address can apply for a Youthsaver account – they’ll need a parent or legal guardian to open the account on their behalf online or at a branch.
A parent or legal guardian can open a Youthsaver account for a child under 14 at a branch or online.
For both ‘In-branch’ and ‘Online’, you’ll need:
You may choose to quote a Tax File Number (TFN), Australian Business Number (ABN) or TFN Exemption (if applicable)2
You’ll need:
If you’re aged 14 to 17, you can open a Youthsaver account yourself by applying at a branch only.
You’ll need:
You may choose to quote your Tax File Number (TFN), Australian Business Number (ABN) or TFN Exemption (if applicable)2
You’ll need:
You'll need to provide ID for verification for yourself and your child within 20 days of opening the account or the account may automatically close. You can reapply at any CommBank branch. You’ll need to bring physical ID as we do not accept digital forms of ID.
If you are applying or finalising applications in branch, please bring your child’s birth certificate or a court order to identify you as a parent or legal guardian.
To be eligible, as a parent or guardian, you must:
From your Kit app settings, simply link each Youthsaver account to a corresponding Kit child profile during the campaign period and meet all eligibility criteria.
Yes, you still qualify. Existing Youthsaver account holders and/or existing Kit customers are eligible as long as you link your child’s Youthsaver account to the Kit app during the campaign period and meet all the eligibility criteria.
Yes. To be eligible, you must have both a Kit account and a CommBank Youthsaver account, and link each eligible Youthsaver account to the corresponding Kit child profile in the Kit app. To link a Youthsaver to Kit, you must be an Authorised Operator on the account.
You need to complete all eligibility criteria between 9 April and 31 May 2026 (inclusive).
The $20 bonus is typically paid within one week after you successfully link your Youthsaver account to Kit during the campaign period. In some cases, it might take a little longer.
The bonus will be paid directly into your child’s Kit account (child profile). It will appear as a transaction labelled ‘Kit bonus’.
You can view the full terms and conditions here.
Terms & Conditions
^Youthsaver x Kit Offer
Eligibility Conditions
To be eligible for this promotion, you must have (a) successfully created a Kit account for the Kit product (Kit Account) through the Kit app, including linking a parent/guardian bank account (Boss Linked Account), (b) at least one child profile associated with the Kit Account, (c) successfully opened a CommBank Youthsaver account, and (d) linked each eligible Youthsaver account to the corresponding Kit child profile in the Kit app from 9 April 2026 (12:01am AEST) to 31 May 2026 (11:59pm AEST) (‘the offer period’). The Youthsaver account(s) and Kit Account must both remain open and active during the offer period to be eligible for the bonus.
Getting Your $20 Bonus
A $20 bonus will be credited to the relevant Kit child profile for each separate eligible Youthsaver account successfully linked during the offer period, up to a maximum of $20 per Kit child profile and up to a maximum of $100 per Kit membership (equivalent to up to five eligible child accounts). The payment is typically processed within one week of linking the Youthsaver account to Kit, but in some cases may take longer. Payment will appear as <Kit bonus> on the Kit child profile. No further claiming is required.
This is a limited time only offer. Kit reserves the right to change, end, or extend this offer at any time as permitted by law.
For all enquiries, you can reach out to Kit at Help Centre
1 Interest is calculated daily and paid monthly. Rates effective 27 March 2026 but subject to change.
2 The Bank is authorised under the taxation laws to collect a Tax File Number (TFN), an Australian Business Number (ABN) or an exemption code. It is not an offence if you don’t provide a TFN, an ABN or an exemption code, but by law, we may be required to withhold a portion of your interest earned on the account.
3 Please check the list of acceptable documents here. If you are applying or finalising applications in branch, please bring your child’s birth certificate or a court order to identify you as a parent or legal guardian.
The target market for this product will be found within the product’s Target Market Determination, available here.
The advice on this website has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before action on the advice, consider its appropriateness to your circumstances. Please view our Financial Services Guide (PDF). Full terms and conditions for the transaction and savings accounts mentioned (PDF) and Electronic Banking (PDF) are available here or from any branch of the Commonwealth Bank. Other fees and charges may apply.
Kit is a brand of CBA New Digital Businesses Pty Ltd ABN 38 633 072 830 trading as HEY KIT. CBA New Digital Businesses Pty Ltd is a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124 (CBA). CBA New Digital Businesses Pty Ltd is not an Authorised Deposit-taking Institution for the purposes of the Banking Act 1959 and its obligations do not represent deposits or other liabilities of Commonwealth Bank of Australia or its subsidiaries, and therefore you may be exposed to investment risk including possible delays in repayment and loss of income and principal invested, as relevant. CBA New Digital Businesses Pty Ltd has been appointed as authorised representative (001296799) of Hay Limited (ABN 34 629 037 403 AFSL 515459), who is the issuer of the Kit Account and associated Kit Cards. View the CBA New Digital Businesses Pty Ltd Financial Services Guide (PDF). Any advice provided is general only and does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. Please consider the Product Disclosure Statement (PDF), before making any decision about the products. Fees and charges may apply. View the Target Market Determination (PDF). Please visit Important Legal Information to access detailed terms and conditions about our app and the services, our Privacy Policy (PDF) and other important legal documents.
CBA New Digital Businesses Pty Ltd (ABN 38 633 072 830), trading as Hey Kit, has been appointed as authorised representative (001296799) of Commonwealth Bank of Australia (ABN 48 123 123 124 AFSL 234945) who is the issuer of the CommBank Youthsaver account.
*CommBank Yello is a customer recognition program offered by Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945. Eligibility conditions apply, see commbank.com.au/commbankyello. Offers may vary at any time. Full T&Cs and details on how to activate the offer at heykit.com.au/commbankyello.
