Eligibility: Children under 18. Must be jointly opened with parent or guardian of legal age
Frequency of rate changes: At our discretion, we may change the interest rate and annual percentage yield on your account at anytime.
Compounding and crediting frequency: interest will be compounded daily. Interest will be credited to your account quarterly.
If you close your account before interest is credited, you will not receive the account interest
Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day
Accrual of interest on non-cash deposits (for example, check): Interest accrues on your daily available balance
Transaction limitation: Transfers from this account to another account or to third parties by check, preauthorised, automatic, or telephone transfers are limited to 6 per month. If there are continued transaction in excess of the above limits, we will contact you to either close the account or place the funds in a transation account you are eligible to maintain.
Other limitation: Primary account holder should be an adult of legal age. When the minor account holder reaches age 18, this account can be converted to a regular savings account subject to new account opening requirements.
Account closing fee $25.00, if closed within 181 days of opening
For additional fees, see Miscellaneous Fees and Charges
- For complete listing of services, rates, fees, and restrictions, please contact any customer service representative.