Citizens Bank (also known as Charter One in Illinois, Michigan and Ohio) is offering a great way to save for your child's education with the CollegeSaver Account. The account requires a $25 initial deposit to open.
This account comes with a tiered interest rate that depends on the balance and offers a $1,000 bonus for parents once the child turns 18. Also, you can open a checking account and enroll in GreenSense, which allows you to earn money each time you use your debit card - this money can be transferred to your CollegeSaver Account. And, since it isn't a 529 investment plan, you are not required to used the funds toward education only.
To be eligible for the $1,000 bonus, you must save at least $25 a month every year until your child turns 18. In order to open an account, you must call a location in your area.
Other Terms and Conditions may apply to this offer - please contact the financial institution to review.