Join Greenlight - on us!
Help your kids learn to earn, save, and spend wisely.
Magnifi members receive a FREE Greenlight subscription, including a debit card and money app designed to help kids build smart money habits.
Teach Powerful Life Lessons
Help your children to save money so they learn:
- How to stay focused on goals
- How to plan ahead
- How to save for the things they want until they can afford it
- The value of money and not to waste it
- Basic math skills
Magnifi Financial offers several types of children's savings accounts for kids ages 0 to 17, with a parent or guardian as a co-signer.
Choose the account to help you save.
Ages 0-12
Little Scholars Savings
Help teach your child how to start saving. Watch their money grow and get rewarded along the way.
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Earns higher dividends than personal savings
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No monthly fees or penalties
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Birthday gift each year
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Free gift with deposits $25+
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Auto-transfers to Boom! Savings at age 13
Ages 13-19
Boom! Savings
Keep the savings habit strong with this account designed for teens ready to level up.
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Earns higher dividends than personal savings
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No monthly fees or penalties
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Overdraft protection for Youth Checking
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Build credit-ready habits
Ages 0-19
Boom! Certificate
A youth certificate that helps grow their money even faster with locked-in rates.
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24-month term
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Higher dividends than regular certificates
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Minimum deposit: $250
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Maximum deposit: $7,500
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Guaranteed rate for full term
Rates
Effective Date: 1/1/2026
| Account Type | Dividend Rate | APY | Min. Opening Deposit | Min. Balance to Earn APY | ||||
|---|---|---|---|---|---|---|---|---|
| Little Scholars & Boom! Savings | 1.00% | 1.00% | $0 | $0 | ||||
| Boom! Certificate | 3.203% | 3.25% | $250 | $0 | ||||
| Account Type Little Scholars & Boom! Savings | Dividend Rate | 1.00% | APY | 1.00% | Min. Opening Deposit | $0 | Min. Balance to Earn APY | $0 |
| Account Type Boom! Certificate | Dividend Rate | 3.203% | APY | 3.25% | Min. Opening Deposit | $250 | Min. Balance to Earn APY | $0 |
APY = Annual Percentage Yield
*Boom! Certificate is a youth account for ages 0-19 years. Term is 24 months. Minimum opening deposit of $250. Maximum deposit of $7,500. Penalty for early withdrawal.
Rates are subject to change without notice. Dividends compound monthly.
Get Started
Choose the next step that's right for you. We offer options to fit your every day.
Apply Online
It's quick and easy to apply online.
Visit in Person
Apply locally at a branch near you.
Call Us
Speak directly with a Magnifi team member.
Meet With Us
A Magnifi team member can help you open a new account.
Youth Checking
Give your kids flexible spending options that teach strong spending habits.
Personal Savings
Explore savings options designed to help you grow your money and reach your goals.
Loans
Loans designed to help you move forward with confidence.
Digital Banking
Manage your money anytime with simple, secure Digital Banking tools.