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!
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!
