Maspeth Federal Savings Offering 10% APY for Teen Savings Account
Maspeth Federal Savings is offering a special rate for Teen Savings accounts. You can earn 10.00% APY on balances up to $6,000.00 and then 0.50% APY on balances over $6,000.00. This promotion is available for all existing and new customers.
You can see the promotion page here. Offer is available in NY only.
Important Terms
- The 10.00% Tiered APY is limited to 1 (one) Teen Savings Account per Child, additional savings accounts owned by the same child are subject to the Standard Teen Savings Account Rate of 0.50% APY.
- The APY may change at any time without notice.
- Account is joint between parent and child. When the child turns 18, the Teen Savings account will convert to a Statement Savings Account.
- The parents/guardians from the Teen Savings account will remain as a co-owner of the Statement Savings account unless removed. To remove the co-owner, both account owners will be required to visit a branch to change account ownership.
