Young Savers Account
"Save while you’re young" is advice your elders often give. We think it is a wise idea, too. That is why we created a savings plan that is ideal for young people.
Spending
Set savings goals, track budgets and more, all in one convenient place.
Earn Interest
Watch your money grow while it stays safe and secure.
Financial Tools
Stay informed and learn about practical money skills, your credit score and more.
- Automatically transfer funds into savings
- Receive immediate access
- Ideal for a first savings account
Features and Benefits
- Interest is compounded daily and credited quarterly(1)
- Transfer funds automatically from checking to savings, using our secure Online Banking transfer service
- Maintain immediate access to your savings account so you can make deposits and withdrawals at any time(3)
- Receive quarterly paper statements(6)
- Gain access to Spending, our free online budgeting tool
- Bundle your checking and savings accounts for a more convenient way to budget and save toward your goals
- Enjoy 24-hour access to your account information with just a quick call to our InfoLine at 1-888-797-7711
Requirements
- Account holder must be below 17 years of age(18)
- A parent or guardian over 18 must be a joint account holder on the account
- Opening deposit: $25
Fees
- Monthly service charge:
- None for children under 17 years of age(18)
- Transactions fees:
- $5 excessive-withdrawal fee for each withdrawal after the sixth(3)
Disclaimers:
(1) Accrued interest is available for closing withdrawals.
(3) Federal law requires that we convert a savings account to a checking account if you exceed six preauthorized or automatic debits or withdrawals per month. An Excessive Withdrawal Fee of $5 will be charged for each transaction over six per month.
(6) Memo statement produced if the account has an ACH transaction during the month. This "Memo" statement does not affect the quarterly interest payment schedule.
(18)When the account holder reaches age 18 this account will convert to BancorpSouth's My Goal Savings Account.