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Ultima Bank’s SMART Savings Account Offers Young Adults 2.02% APY

Posted by: RateAPY Bank Rates News
February 10th, 2010

At last, interest rates on savings accounts are beginning to rise. And that makes it all the more important to shop around to find the best yields possible.

If you’re a young person, 18 years old or younger, who wants to save for college–or for any other reason–your research may well point you toward Ultima Bank.

Savings Account Tailored for Young People

The folks at Ultima have created School Money At Right Time (SMART), a savings account especially designed to meet the needs of young people. Today, that account’s interest rate is a full 2.00%, which is 2.02% APY.

You could be liable for a penalty if you make withdrawals before your eighteenth birthday, but the SMART savings account is generally straightforward, flexible, and free to use. Account terms include the following:

• Imaged statement delivered electronically–Free
• Direct deposit–Free
• Minimum balance required–None
• Transaction limits after 18th birthday–Six per month
• Manual withdrawal fee (all electronic are free)–Two free and $1.00 each thereafter
• Minimum amount per deposit–None
• Online access via TeleBanc–Free
• Online access via NetBanc–Free
• Transfer funds among accounts after 18th birthday–Free
• Retrieve transaction detail–Free
• Export to Quicken or Microsoft Money–Free

Find the Best Savings Account for Your Needs

Whatever your age and circumstances, there’s a savings account out there for you. To begin your search, compare savings rates now.