Junior Saver Savings Account

If you are a young saver or have a young saver in the household, you may want to take a closer look at the Junior Saver Savings Account from the Cedar Valley Bank and Trust.  This account helps children and young adults learn the importance of saving their allowance, birthday money or summer earnings for the future.

Junior Saver Savings Account details:

• $10.00 minimum opening deposit
• $10.00 minimum balance to earn interest at the stated Annual Percentage Yield
• Converts to a Regular Savings Account the year in which you turn 16 years of age
• Quarterly statements (month ending March, June, September and December)
•  Interest compounded quarterly on an average daily balance method.   This method applies a periodic rate to the average daily balance in the account for the period.  The average daily balance is calculated by adding the principle in the account for each day of the period and dividing that figure by the number of days in the period.
• Interest will be credited to your account on a quarterly basis. (Quarter ending March, June, September and December)
• Interest begins to accrue on the business day you deposit noncash items (for example, checks)
• At our discretion we may change the interest rate on your account daily.
• Limitations for this account: During any calendar month or statement cycle of at least four weeks, you may not make more than six withdrawals or transfers to another account or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction.
• Free Telebanking, Internet Banking and E-Statement Services
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