Available now for anyone who lives, works, worships or attends school in Suffolk County, New York, Suffolk Federal is now offering a great way for your child to learn about saving with a $25 deposit rewarded just for opening a new Youth Savings account. Once the balance reaches $1,000, Suffolk Federal will congratulate them with another $25 deposit! So all-in-all, you’ll receive a maximum bonus of $50 for your child.
Take advantage of unique key features of a highly dividend account specialized in rewarding them for their efforts. This is a great way to instill financial literacy for your child at an early age. Teach them the importance of savings and reward them at the same time!
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Suffolk Federal Checking Account Summary:
- Apply Now
- Account Type: Free Advantage Checking Account
- Maximum Bonus: $50 Cash
- Availability: NY
- Expiration Date: None
- Soft/Hard Pull: Unknown
- Credit Card Funding: Unknown
- Direct Deposit Requirement: None
- Additional Requirements: See below for more details
- Monthly Fee: None
- Early Termination Fee: Account must stay open for a minimum of 90 days or Suffolk Federal reserves the right to revoke cash-back deposits.
Suffolk Federal Checking Bonus Requirements:
- You will need to be a member of Suffolk Federal by opening a Youth Savings account with a $5.00 minimum balance
- Upon account opening, you’ll receive $25 Bonus
- Accomplish a $1,000 balance and you’ll receive another $25 Bonus
- Once all requirements have been completed, you’ll receive $50 in Bonus Incentives.
Suffolk Federal Account Features:
- Balances up to $1,000 earn 3.50% Annual Percentage Yield (APY)
- Minimum balance to earn dividends is $100.
- Dividends are calculated on daily balance and credited monthly.
- Youth Savings accounts must be custodial accounts
- At the age of 18, monies in this account will be transferred into a regular savings account.
Conclusion:
Parents and Guardians of Suffolk, New York, be sure to check out Suffolk Federal for their $50 Youth Promotion. When your child applies for a youth savings account, they’ll receive $25 Bonus. Not only that but if they can achieve a $1,000 balance, they’ll receive another $25 bonus. This is an easy bonus with very minimal requirements attached. Keep in mind that your child will be subject to a custodial account; you will have to co-sign your child into a youth account.
Remember there is a specified 90 day pending closure period, if you choose to close your account within a 90 days span, you’ll risk having your bonus revoked. This bonus will be reported and entitled to the IRS. But If you’re not currently interested, then I recommend you check out our complete list of Bank Promotions for all your banking necessities!
