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Penguin Account


Open an Incentive Saver Account at your local branch for a child aged 15 years and under and they’ll receive a penguin adopted on their behalf for a year and a child’s Four Park Pass for Phillip Island Nature Parks for entry to the world famous Penguin Parade, Churchill Island, Antarctic Journey and the Koala Conservation Centre*. Conditions apply.

More information on our Incentive Saver Account

  • Be rewarded with a higher interest rate when you grow your account balance by any amount if you’re under 21, and by at least $50 if you’re over 21
  • $0 monthly service fee
  • Unlimited withdrawals
  • Uncapped savings
  • Government guarantees^

How to apply

You can apply for this account in branch. Please bring your child’s birth certificate with you and if you don’t already bank with us, you’ll also need to provide proof of ID.

It’s never too early to start teaching your child about money

The Detail

*The Incentive Saver Penguin Offer is in collaboration with Phillip Island Nature Parks Australia December 2017.

The Detail: This special offer is available to children aged 15 years and under who open a Bank of Melbourne Incentive Saver account in Bank of Melbourne branches only.  Offer current as of 1st April 2014 to 30th September 2018 (the Promotion Period) (each an Eligible account). Eligible accounts will receive a child’s Four Parks Pass valued at $28.90 (standard terms and conditions of entry apply, see for details) and a Penguin Adoption in the account holder’s name for one year from date of account opening.  Limit of one per person. Accounts opened via phone or online are not eligible for this promotion. Offer may be withdrawn or varied at any time. No monthly account service fee, transaction fees apply. Please read the detailed terms and conditions for the full fee schedule. Before making a decision please read the terms and conditions at and consider if the product is right for you.

Bonus interest will be payable if, during a month (being the day after the last business day of the previous month to the last business day of the current month):

  1. Your account balance has not fallen below zero; and
  2. You have grown your account balance by any amount if you’re under 21, and by at least $50 if you’re over 21

^ The Financial Claims Scheme guarantees deposits to a cap of $250,000 per account-holder.

2018 © Bank of Melbourne – A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.