Citizens Bank | CollegeSaver Account
Citizens Bank has a generous offer for a child’s savings account. Sign up for a CollegeSaver savings account, save the monthly minimum amount every year, and receive a $1,000 bonus plus interest when your child turns 18. You must open the account before your child’s 12th birthday.
You must deposit a minimum monthly amount from the time you open the account until your child turns 18.
- Less than 6 years old: You will need to open the account with $25, and then contribute at least $25 each month until your child’s 18th birthday.
- Between 6 and 12 years old: You will need to open the account with $500 and contribute at least $50 each month until your child is 18.
You may miss one payment per year.
You will owe taxes on the interest. The money could be used for anything and not necessarily college. Citizens Bank does note that this account is meant to help you get your savings started rather than being your only college savings account.
To apply for the CollegeSaver account, visit your nearest Citizens Bank branch or call 1-877-360-2472. Our local Citizens Bank is located at 153 West Orange Street, Shippensburg.
The Citizens Bank College Saver account is only open to residents in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Delaware and Ohio.
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