Establishing healthy financial habits from a young age can set up children and young adults for future financial success. Get a head start on savings and financial education with a Student Savings Account with Armed Forces Bank for children and young adults under the age of 23. Joint ownership with a parent or guardian is required for those under the age of 17. Interest compounds quarterly1 and there is no monthly service charge. A minimum opening deposit of $25 is required.
Take advantage of our Saving Cents program that rounds up debit card purchases from an Armed Forces Bank Checking Account and applies the change directly into a Savings Account. Students can see their money grow over time by signing up for Digital Banking and setting up customized account alerts3.
Applying typically takes 10 minutes or less.
Features
No monthly service charge
No minimum balance required until age 232
Free ATM card
Eligible for Saving Cents - round up your debit card purchases automatically and put the change in your savings
Student Savings Rates
| Account Balance | Annual Percentage Yield |
|---|---|
| All balances | 0.03% |
Applying typically takes 10 minutes or less.