LCU
Young and Free Student Account
Learn to save with a great interest rate and no monthly Visa card fees. Bonus rate on balances up to $1000.
Savings & transaction accountsBank updated 6 May 2026
At a glance
- Base rate
- 0.01%
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| Variable | — | — | up to $10,000 | 4.90% | — | paid every 6 mo |
| Variable | — | — | $10,000+ | 0.01% | — | paid every 6 mo |
§ 03 — Features
Instant paymentsPayIDDigital bankingUse your compatible Apple device to make paymentsUse your compatible Android device to make payments
- · BPAYView - Receive your bills directly to your internet banking and pay with one click
- · Sweep Facility - Automatically move funds between your accounts based on a minimum or maximum balance to be maintained on the specified account
- · Government Guarantee - 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 in…
- · Receive international payment to your account through Western Union. No fee for sender or receiver.
- · Send International Payments self serve through your internet banking or staff assisted
- · International exchange on foreign cheques and cash
- · International purchase foreign draft
- · International purchase foreign cash
- · International Prepaid MasterCard Cash Passport
- · Overdrawn accounts (with a balance below $0.00) will be charged the current lending rate applicable to the account. See Lending Rates above.
- · Bonus interest rate is paid on balances up to $1,000 (refer to the deposit rates above for current rates)
- · Free LCU counter cheque - order a counter cheque online or in person at no cost.
§ 04 — Eligibility & limits
- · Minimum age 8
- · Maximum age 25
- · Residency: If not an Australian resident, you must complete a Tax Residency Declaration
- · Available to individuals
- · Must be a shareholder owning a $10 share. Each shareholder holds an equal share regardless of their balance. Shareholders have a say in how we are run. "Own your Bank". $10 share is refunded if you c…
- · To be eligible to join you must be at least 8 years of age and referred by a family member or friend who already has an account with LCU. Alternatively you may be eligible to join if you: work or liv…
§ 05 — Compare
§ 06 — Run the numbers
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Published by Laboratories Credit Union under the Consumer Data Right, last changed by them on 6 May 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.