*By law, banks are permitted to limit certain types of withdrawals and transfers from your savings and money market accounts and charge an excess activity fee when you exceed such limits. The limitations apply to withdrawals by check, draft, debit card purchase or similar order (if available on the account), or telephone, or automatic or pre-authorized transfers to another of your accounts with us or to a third party. The limitations also apply to transfers made by Telephone Banking, Online Banking, or Mobile Banking and transfers from your savings or money market account to cover overdrafts. Due to federal regulation changes, we are currently not applying these limits or charging an excess activity fee.
Young Savers Account
- Available to individuals under the age of 18
- Interest is compounded daily
- Opening deposit of only $10
- No minimum balance requirement
- FDIC insured
Rates and Fees
- There is no monthly maintenance fee.
- Competitive rates
Note: When the minor reaches the applicable statutory age of majority, the Young Savers account will be transferred to a Regular Savings account and subject to the balance requirement and fees for Regular Savings.
- Free Online Banking
- Electronic Statements
- Auto Save – set up auto transfers to a Young Savers account from your Sandy Spring Bank checking account