Offer at a glance
- Interest Rate: 3% APY
- Minimum Balance: $5
- Maximum Balance: $10,000
- Availability: NY and must be aged 6 – 17
- Direct deposit required: No
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: No
- Monthly fees: None
- Insured: FDIC
- Apple Bank offers 3% APY on balances from $5 to $10,000 on the Youth Savings Account.
The Fine Print
- The Youth Savings Account is available to children and teenagers ages 6 through 17.
- Accountholders must be able to write their name and provide one form of identification, such as a birth certificate or school photo ID.
- There is a $1.00 minimum deposit to open this account.
- You must maintain a minimum daily balance of $5.00 in the Youth Savings Account to earn interest.
- There is no interest paid on balances under $5.00.
- A limit of one Youth Savings Account applies per child.
- Offer may be withdrawn at any time without prior notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about.
Great account as there are no requirements to earn this 3% APY rate. One of the best high yield savings accounts, but obviously very limited due to age and geography. Apple Bank also offers a $100 checking bonus.