Financial experts have always said the key to successful saving is to start as young as possible. Landmark Bank gets that. It’s why we offer kids savings accounts. The sooner you start, the more time you have for money to grow. Savings isn't just for adults.
Kids want to feel like a responsible adult. The Landmark Kid’s Club does that. Kid’s savings accounts from Landmark Bank are a great way to get your children thinking about money at an early age.
For many kids, an allowance for accomplishing chores around the house gives them their first taste of earnings power. Where does that money go? Is it tucked away in their bedroom or a piggy bank? Is it earning interest? This is why Landmark Bank offers the Landmark Kids Club savings account, to teach kids the values of financial responsibility.
The Benefits of Kids Savings Accounts
As a parent, you know how to manage your money. Have you taught your kids what you have learned along the way? If not, now is the perfect time to start! Kids savings accounts from Landmark Bank:
- Teach kids the value of financial responsibility
- Earn great interest rates – unlike adult options that see interest rates increase with the value of the account, kids savings accounts from Landmark Bank work the opposite way; because we realize your kids aren’t going to have a large balance right away and like them, we want to see their money grow quicker
- Get your kids on the right track for whatever they are saving for; whether that be a new video game or a long-term investment like a car or college
The Landmark Kids Club: More than Savings
The Landmark Bank Kid’s Club is great because it is more than just a savings account. Savings accounts in and of themselves aren't exactly the most exciting thing for kids.
They want to touch their money. They want to see their money. They want to feel how much heavier their piggy bank has gotten over time.
The Landmark Kids Club savings account isn't the same as the personal savings accounts for adults. We make money management fun.
Here are some educational links for kids to learn more about money and banking, The Learning Bank - FDIC, Money - Kids.gov, and h.i.p. Pocket Change - U.S. Mint.gov.
Kids Savings Accounts with Great Interest Rates
This savings account for kids operates on a tiered interest rate structure; the less money your child has in their account, the more they are able to earn over time.
By structuring the interest rates like this on kids savings accounts, your kids are able to realize the value of savings accounts sooner than later, earning a 1.00% APY on balances below $500.
The below chart shows all of interest rate possibilities on kids savings accounts with Landmark Bank.
| $0.00 - $499.99
| $500.00 to below $2,499.99
1.00% - 0.40%
| $2,500.00 to below $4,999.99
|| 0.40% - 0.23%
|$5,000.00 and above
|| 0.23% - 0.01%
Open a Kid’s Club Account Today
To open a Kid’s savings account at Landmark Bank, visit your local branch today!
Other Savings Options for Your Kids
It’s important to get your kids thinking about their own money and how to stretch their income, whether that be from allowance or a lemonade stand with a savings account for kids from Landmark Bank.
While your kids are working on improving their financial future with a kid’s savings account from Landmark Bank, why not reward them by saving for college with a Landmark Bank certificate of deposit?
1Actual annual percentage yield depends on the balance in the account and may change after the account is opened. APYs effective as of 04/24/14. Fees may reduce earnings. Contact us for further information about account terms and conditions. Limit one Landmark Kids Club account per child under age 18.
2You may make no more than six preauthorized withdrawals, automatic or telephonic transfers, checks, drafts, and debit card or other similar transactions from your account per statement cycle. An excess debit fee will be charged for each transaction in excess of three during a monthly cycle.