Student Savings Account

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Learning to save is a great lesson

Teach your child or young adult to start saving money early in life with help from Academy Bank. This Student Savings account can teach the benefits of compounding interest.

  • Designed for individuals under 23 years old
  • Interest compounds quarterly¹
  • Online and Mobile Banking allowing students to monitor their account transactions, and see how fast they can save money

What you get with a Student Savings Account:

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No monthly service charge under the age of 23
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Digital Banking with account alerts
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Eligible for Saving Cents
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Source of overdraft protection

Student Savings Account Rates

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Account Balance Annual Percentage Yield
All balances

What You Need to Know

  • No minimum balance is required until age 23.
  • $5 monthly service charge is waived until age 23.
  • 17 and younger must have a parent or guardian as a joint owner on the account.
  • You can receive free eStatements or $5 paper statements with a Student Savings account.2
  • 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.
Get started saving for college. Figure out how much you need to be saving to be ready for college with our College Savings Financial Calculator

1 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 .
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.
FDIC-insured up to the maximum allowed by law