Information for:
Teach your child or young adult to start saving money early in life with help from Academy Bank. This Student Savings Account is for individuals under 23 years old, and those 17 and younger must have a parent or guardian as a joint owner on the account. Use this account to teach the benefits of compounding interest, as the student savings interest compounds quarterly1.
With our Saving Cents program, students can see the importance of making small saving choices that can add up. Our Saving Cents program rounds up debit card purchases from an Academy Bank Checking Account and transfers the change directly into a Savings Account.
The student Saving Account is eligible for Digital Banking, allowing students to monitor their account transactions, and see how fast they can save money with each debit card purchase.
Applying typically takes 10 minutes or less.
Features
No monthly service charge
Free ATM card
Eligible for Saving Cents
Source of overdraft protection
Digital Banking with account alerts
Student Savings Account Rates
| Account Balance | Annual Percentage Yield |
|---|---|
| All balances | #student_savings_apy1% |
What You Need to Know
- No minimum balance is required until age 23.
- $5 monthly service charge is waived until age 23.
- You can receive free e.Statements or $5 paper statements with a Student Savings account.*
- At the age of 23, this account will be converted to a regular Savings Account. Minimum balance requirement will be $100 or a monthly service charge of $5 will apply.
- Closing new accounts within 90 days of opening will result in a $20 early closure fee.
Applying typically takes 10 minutes or less.