bank rates

Tennessee Youth Savings Pays 2%

Reliant Bank offers this deal to children and young adults 20 years or younger.It pays to be young at Reliant Bank in Brentwood, Tenn.

Kids and young adults up to the age of 20 can earn 2.00% APY on a youth savings account.

That’s far higher than the best nationally available deal of 1.25% APY offered on a High Yield Savings account by TIAA Direct.

It takes just a $25 minimum deposit to open a Student Savings account, but you don’t have to keep a certain amount in your account to earn the 2.00% APY, nor is there a maximum balance.

And Reliant Bank (www.reliantbank.com) will reward you to tuck your money away.

If you’re a kid age 9 and under, you’ll get a $25 cash bonus in your account when you make regular deposits. You’ll get a stamp in your passbook each month you make a deposit. Collect 12 stamps and have a $100 balance, and you’ll get an extra 25 bucks.

If you’re between the ages of 10 and 20, you’ll get a $25 gift card once you have $250 in your account.

If you’re above the age limit for the Student Savings account or don’t live in the Nashville area, your best option is a fee-free savings account with TIAA Direct (www.tiaadirect.com).

It requires only a $25 deposit to open an account, and the rate is good on all balances. TIAA Direct is a division of TIAA-CREF, the large financial services provider based in New York.

There’s no mechanism to open an account online with Reliant Bank, so you’ll need to stop by one of the bank’s four locations in the Nashville area.

The community bank serves individuals and businesses in Williamson and Davidson counties of Tennessee.

Compare this deal with the best savings and money market rates from scores of banks in our extensive database.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (0)
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...
No Existing Comments

Comments are closed.