College Fund CD
At Fidelity Bank & Trust, we make saving for college easy!
Save for a child's college education with this account that earns a higher rate of return. Open with as little as $25.00. A person over 18 is needed as joint owner or agent status when the child is under age 18.
Unlike a regular CD that only allows one initial deposit, the College Fund CD allows unlimited deposits, building the funds for future use.
- Open a College Fund CD with a minimum of $25.00
- Make unlimited deposits into this account.
- Minimum amount of each future deposit is $25.00
- Interest is compounded and credited semi-annually.
- Account matures when the child reaches age 25.
- Funds are accessible at the age of 16.
- Three withdrawals are allowed per year after age 16.
- Withdrawals in excess of three per year will be subject to 6 months interest penalty.
- If funds are withdrawn prior to age 16, a 6 month interest penalty will apply.
- If there are funds in the account after the child reaches age 25, these funds will remain in the account without accruing additional earnings.
- Keep current with your Fidelity Bank & Trust College Fund CD via Online Banking.
- Set up scheduled transfers in Online Banking to make regular deposits into the College Fund CD account.
- Start a College Fund CD as a gift and make deposits for all the special gift-giving occasions in a child's life!
- College Fund Gift certificates are available at all Fidelity Bank & Trust locations.