MB Youth Savings

Introduce your child to responsible money management with this interest-bearing savings account.footnote

Ready to apply? Questions?

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Call us at 1.888.i bank mb  (1.888.422.6562) or contact us.

Perfect for

Children ages 17 and under who are ready to start learning the value of money management.

Benefits

  • Great way to teach your child to save money
  • No minimum balance requirement and no monthly service charge
  • Earn interest on as little as $1
  • Up to 4 free withdrawals per month

Features

  • Free Internet banking
  • 24-hour access to Phone Access Line (PAL)
  • Your choice of e-statements, paper statements or passbook

What's next?

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Interest rates

No minimum to open, quarterly compounding

Interest rates
Balance Interest rate APY*
Below $2,500 0.030% 0.03%
$2,500 - $24,999.99 0.030% 0.03%
$25,000 and over 0.030% 0.03%

* Annual Percentage Yields (APY) are current as of 04/18/2014

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Things to know

  • No minimum balance requirement, no monthly service charge
  • Minimum to open is $1
  • Minimum to earn interest is $1
  • Interest is compounded and credited quarterly
  • This account automatically converts to an MB savings account after the account holder turns 18 years old

What's next?

How to Apply Apply Now

MB Everyday MasterCard prepaid cards. Learn more.

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This product could be right for you if

  • You have a child aged 17 or younger
  • You’re 17 or younger and want to start saving

Apply online

Our online application takes about 10 minutes to complete.

This account requires a custodian to be on the account with the minor.

If you're already an MB customer, you can open a new account by logging in to ibankmb.com.

Be sure to have all the information for the applicants on hand.

Apply in person

Stop by one of our convenient banking centers located throughout Chicagoland and we’ll be happy to help you open your new MB account. 

What's next?

Apply NowQuestions?

Call us at 1.888.i bank mb (1.888.422.6562) or contact us.

Find a branch or ATM

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1 Variable rate tiered account. Rate subject to change at any time without notice. Fees may reduce earnings. Please refer to the Personal Banking Customer Fee Schedule (PDF).

This account requires a custodian to be on the account with the minor. The custodian makes transactions on behalf of the minor. Transaction limits apply. Back to top