Southern Bank offers a savings account option for youth. Babies, kids, and teens (under 18)¹ earn competitive interest on every dollar deposited. Teach your youth the value of saving money and give them skills that will benefit them throughout their life.
Youth Savings Account
Start their savings journey early with our kids’ savings account.
Virtual banker appointments are now available.
Meet with a virtual banker at a branch near you.
YOUTH SAVINGS ACCOUNT DETAILS
What to expect from a Youth Savings account:
- Competitive interest on entire balance.²
- 6 free withdrawals per month; after that, $1 per withdrawal.
- $25 minimum to open an account.
- $2 service charge per quarter. This can be avoided by maintaining a $25 minimum average daily balance.³
- At 18, a Youth Savings Account will convert to a Southern Savings Account.
- Online savings account features available through our online banking & mobile banking.
Use our savings calculators > to help you plan and reach your goals.
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YOUTH SAVINGS ACCOUNT FEATURES
Enjoy these extra features on your Youth Savings Account from Southern Bank:
Disclosures:
1 A parent, grandparent, or legal guardian must jointly be on the account and must have an account relationship with Southern Bank. Once the youth turns 18 years old, this account is converted into a Southern Savings Account.
2 Current interest rates are available upon request and are subject to change daily.
3 A Service charge of $2.00 will be imposed every statement cycle if the average daily balance for the cycle falls below $25.00. The average daily balance is calculated by adding the principal in the account for each day of the statement cycle and dividing that figure by the number of days in the cycle. The period we use is 365/365.