First Savings Account
A no cost savings plan for children.The First Savings account is a statement savings account that is designed for children who are under the age of 18 with a parent or guardian as a cosigner. With only $25 needed to open the account and no minimum balance requirement to avoid a service charge, this is an ideal First account. After age 18, this account will convert to our regular Statement Savings account.
Promote the benefits of savings to young depositors and help your children learn the value of financial planning with a First Savings account from Peoples First.
Interest Rates Effective
As Of: 12/17/2008
| Deposit Tier | Interest Rate | APY |
| Entire Balance | 1.00% | 1.00% |
Features
- For youths younger than 18 years of age
- Upon turning 18, this account will convert to our regular savings account
- No monthly fee
- Interest Bearing*
- Interest compounds daily and posts monthly
- Account statements are mailed quarterly
Notes
Requirements
- Minimum to open: $25.
- Minimum balance: None.
Frequently Asked Questions:
What do I need to bring with me to open an account?
Stop by your local Peoples First Community Bank office where our Customer Service representatives will be happy to assist you in opening up your First Savings account. You will need to bring your Florida driver's License or Florida ID and your Social Security card. You will also need to have the minimum to open amount deposit with you.
Will I be charged for this account?
The Peoples First Community Bank First Savings account does not have a monthly service charge or a minimum balance requirement. You may incur charges for using your ATM card at locations other than Peoples First Community Bank's ATM machines.
What happens to the account when the child turns 18 years of age?
The First Savings account will convert to a Statement Savings account when the child turns 18.
