Hello!

I have my son's CDA and savings account under OCBC, because I could get 0.8% interest per annum if I deposit a minimum of $50 monthly and do not withdraw - this is also based on a monthly basis so my transactions in the month will only affect that month's interest rate! I'd recommend that you find time to sit down and really go through all the options available, just because it's for your LO doesn't necessarily mean it needs to be a joint/kids account - you can save your savings for him in an adult savings account that might earn better benefits!