ANZ Bank offers term deposits for kids from the age of 12, as do BankWest and ME Bank.  AMP Bank and People’s Choice offer them from the age of 13, Westpac from age 14, and Rabobank allows youths aged 16 and over to open a term deposit. However, other banks such as Commonwealth Bank and NAB require a young person to reach 18 before they can open a term deposit in their name.