Teen Savings

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Designed for Teens

Want to teach your teen money skills through experience?

Teen Savings is designed just for teens 13-17. Teens are required to have a qualified adult joint owner on this account. This offers a great foundation for money management while providing peace of mind to parents.

  • Convenience – 24/7 access through Online, Mobile Text and Mobile App Banking (free service – check your cell phone plan for possible fees)
  • Dividends – On balances as low as $5
  • Financial Education – South Carolina Federal hosts financial education workshops at financial centers and schools

To open a Teen Savings account, you need:

  • A qualified adult joint owner
  • Tax Identification Number with proper ID for the teen (social security card or military ID) – note a picture ID is required for teens 13 and older
  • Opening deposit of $5

Ready to start your teen saving?

Accounts require personal attention and specific documentation and, therefore, are opened in a financial center

Teen Savings Rate

Minimum Balance to Earn Interest
1Rates are subject to change after account opening. Fees and withdrawals may reduce earnings on account.
Dividend Rates are accurate as of 11/1/2021 and are subject to change daily.