Grow Well Certificate (CD)
Manage the seemingly impossible — get your teen serious about saving for the future in a certificate that makes it easy.
A Grow Well Certificate allows teens to set aside funds so they can’t easily access them, while earning a fixed return higher than a regular savings account. We offer a variety of terms — from 6 months to 5 years — that safeguards their savings until maturity. At that point, the teen can withdraw their guaranteed return or renew to continue saving.
- Available to teens ages 13 to 17*
- Fixed rates, higher than regular savings
- Receive higher rates for higher balances and longer terms
- Provides more guarantee than other risky investments
- Set aside for future savings goals
- A wide range of terms available (from 6 months to 5 years)
- No setup or maintenance fees
- Early withdrawals subject to penalty**
- Renews automatically upon maturity***
- Free quarterly eStatements (combined statement with checking account)
- $500 minimum deposit to open
*Must be younger than 18 years of age to qualify for a Grow Well Certificate. A parent or legal guardian must be listed as a joint owner on the account.
**Early withdrawal penalty: A penalty may be imposed for early withdrawal, which may reduce account earnings on certificates and IRAs.
***Automatic renewal: At maturity, certificates will automatically renew for same term at the current market rate if not withdrawn, except where disclosed differently.