A local New York City bank is offering a high-yield savings account that will give you 6% annual percentage yield on your money — if you fit into their requirements.
Apple Bank has over 75 locations throughout New York City, Long Island, New Jersey, Westchester, and Rockland, with each offering the Apple Bank SmartStart Savings account.
Each account comes with a Visa debit card, allowing account holders to access “unlimited free ATM transactions worldwide,” as well.
Plus, with no monthly maintenance fee, more of your money stays in your account to appreciate.
This account, however, isn’t meant for an everyday bank account holder. Instead, it’s meant to give children and young adults a leg up on “their financial future independence,” Apple Bank’s website detailed.
So, if you or someone you know is between the ages of 6-years-old and 25-years-old, they can qualify for the Apple Bank SmartStart Savings account.
Of course, there are “custodial and UTMA accounts are available to children and teens ages 0 through 21,” the website detailed.
The 6% appreciation is good for accounts with balances anywhere from $1.01 to $10,000. After $10,000, the APY rate drops.
Each count has to have a minimum balance of $1.01 in order to remain open and receive the 6% APY.
There is one Apple Bank branch on Staten Island, located within the Staten Island Mall at 2655 Richmond Ave.
The Staten Island Mall location is open six days a week. From Monday to Wednesday, it is open from 9 a.m. to 5 p.m.; on Thursday, from 9 a.m. to 6 p.m.; on Friday, from 9 a.m. to 5 p.m.; and on Saturday, from 9 a.m. to 2 p.m.
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