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Minor
Savings
A free interest-bearing
account in a minor's name and social security number ( a minor is
under 18) that is set up with a parent as legal guardian.
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Features |
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- No minimum
balance required
- No minimum
to open · Interest compounded daily, paid quarterly*
- Statement
quarterly
- Imprinted
savings deposit and withdrawal tickets at no fee
- Service
fee: Withdrawal or transfer in excess of six (6) per quarter
is $.50
*Interest compounded daily and credited monthly
on average collected balances
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Benefits |
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- No service
fee if under 18
- Easy to
open and make deposits
- Protects
minor and provides an incentive to save
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