Youth Savings Account in New York

When it comes to teaching children about financial skills, it's never too early to begin.

As parents, we know you want to give your kids a head start in ensuring a successful financial future.  Apple Bank's high-yielding Youth Savings account is our way of helping you look after your children's best interests.  Plus, it's never too early to begin teaching your kids smart savings habits - - their future financial independence depends on it.  

The Youth Savings account is available to children and teens ages 6 through 17.  To open a Youth Savings account, a child must be able to write his or her name and provide one form of identification, such as a birth certificate or school photo ID.  There is a $5 minimum deposit to open this account.

 *Rates and Annual Percentage Yields (APYs) are effective as of July 1, 2022 and may be changed by the Bank at any time, including after account opening. **Rates and APYs are effective at the following tiers: $5.00-$10,000: 2.96% interest rate and 3.00% APY; $10,001-$20,000: 0.75% interest rate and 3.00% - 1.87% APY (there is no limit on account balance, the $20,000 balance is used for annual percentage yield computation purposes only). You must maintain a minimum daily balance of $5.00 in the Youth Savings Account to earn interest. Fees may reduce earnings. 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 Offer may be withdrawn at any time without prior notice.***Teenagers ages 14 through 16 are eligible to request an Apple Bank Visa debit card for this account where the account is joint with a parent or guardian. ATM or terminal operator surcharge may apply. ****Includes both domestic and international ATM and other terminal operators.