Citizens Bank Minnesota's New Youth Savings Account - WooHoo! U
WooHoo! U - A Great Rate Until They Graduate!
You want the best for your child and their future! Start their journey down the road to financial security early with our amazing tiered rate youth savings account - WooHoo! U!
- Earn 3.04% APY on balances up to $4,999.99
- Earn 2.02% APY on balances from $5,000 up to $7,499.99
- Earn 1.00% APY on balances from $7,500 and up
To receive the bonus interest rate, simply do the following each qualification cycle:
- Have at least one Direct Deposit or Automatic Transfer Deposit post and settle
- Must be enrolled and receive a monthly e-statement via online banking
- No withdrawal made from the account during the monthly qualification cycle
- Available for youth ages 0 - 17
3.04% Annual Percentage Yield (APY) - 3.00% interest rate - paid on balances between one penny and $4,999.99, 3.04% - 2.02% APY - paid on balances from $5,000 up to $7,499.99, and 2.02% - 1.01% APY - paid on balances from $7,500 and up each qualification cycle the minimum requirements are met. If these monthly requirements per qualification cycle (which is the same as your statement cycle) are met, we will pay a bonus interest rate. If these monthly requirements per qualification cycle are not met, a non-qualified APY of 0.10% for the entire qualification cycle will be paid. Rates as of 6-20-18. Available for personal accounts only. Only one account per social security number is allowed. Available for youth only age 0 – 17 years of age. The month after the minor turns age 18, account will convert to a regular savings account and applicable fees will apply. No minimum balance is required to open this account. Rates subject to change monthly. We use the average collected balance method to calculate the interest on your account and interest will be compounded and credited every month. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Member FDIC
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