Student Savings

Great for kids and young adults to learn good money habits, the Student Savings account helps individuals under 23 years old to start saving early. Ages 17 and younger must have a parent or guardian as a joint owner on the account. Interest is compounded quarterly.

Features

Daily Rates

Account Balance Annual Percentage Yield
All balances .05% 


What You Need to Know

No minimum balance is required until age 23.1

You can receive free e.Statements or $3.00 paper statements with this account.2


 


Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items. The interest rate is subject to change daily. If the account is closed prior to the interest payment date, no interest will be paid. Fees may be charged to the account which could reduce earnings on the account. The Annual Percentage Yield (APY) is accurate as of Jun 26, 2017.

1 At the age of 23, the minimum balance requirement is $100 or a monthly service charge of $5 will apply. 

2 Statements for electronic transfers are sent monthly. A statement showing compounded interest will be provided at the end of each quarter: March, June, September, and December.

Pre-authorized withdrawals or transfers to another account are limited to six per month. Each additional withdrawal within the same month will be charged $7.00.

FDIC-insured up to the maximum allowed by law