Kids Klub Savings Account
All KIDS KLUB account earn interest on all balances and must be opened and maintained with a minimum balance of $1.00. Interest will be compounded daily and credited to the account monthly. The Kids Klub Account must be set up as an UTMA/UGMA with the child as the legal owner and a parent or guardian as the authorized signer. The money belongs to the minor but is controlled by the custodian until the minor reaches the age of trust termination (age 21 in the state of PA). Any withdrawal must be made for the benefit of the child/owner. There is no check cashing permitted against the account.
Minimum Balance Required to Open Account | $1.00 |
Minimum Balance required to Obtain Disclosed Annual Percentage Yield | $1.00 |
Compounding Frequency | Daily |
Rate Information | Variable |
Overdraft Protection Available | No |
Our Current Rates: | RATES OF INTEREST AS OF 10/14/2014 |
Interest Rate | APY* |
---|---|
0.10% | 0.10% |
Transaction Limitations - You are permitted or authorized to make no more than (six) 6 transfers and/or withdrawals per statement cycle by means of preauthorized or automatic transfer by telephone, including fax, or with the bank's, home or internet service. If you exceed transaction limitations, there will be a $35.00 fee charged per incident.
Annual Percentage Yield (APY) is effective as of October 14, 2014. Interest rates subject to change without notice. Fees could reduce earnings. All accounts are variable rate; the interest rate may change after the account is opened. Account is subject to certain transaction limitations
Questions? Contact Us!