When kids can find a way to save money — and learn to manage it — the financial lessons they carry into adulthood are innumerable. Starting to save young means having a platform to earn more money, make better investment decisions later on and live a financially responsible life.
Ridgewood Savings Bank offers a great vehicle to help young savers with its Kids Club savings account. For any deposit over 25 cents, depositors earn a high-yield 1.02% interest rate; there is no minimum amount required to open the account.
Ridgewood Savings Bank Savings Account Interest Rates: Terms and Conditions
The APY is variable, giving account holders a first-hand chance to watch how interest rates can increase or decrease, and how it can help them learn money management. Deposits are insured up to $250,000 by the FDIC.
About Ridgewood Savings Bank
It was more than nine decades ago, in 1920, when 14 local residents of Ridgewood, N.Y., got together to form Ridgewood Savings Bank. With a financial aim of “for the people, by the people,” the bank has become stronger and stronger through the years. It currently boasts 35 banking offices in the greater New York metropolitan area.
Click here for the best savings account interest rates today.
Other Terms and Conditions may apply. Additionally, interest rates are based on the institution’s online published rates and may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.