Question

Select the correct answer. Sonia decides to open a youth savings account. What benefits will she get? A. no minimum balance B. high interest rate C. loans at low interest D. high growth potential

Answer 1

Answer:

B. High intrest rate.

Explanation:

Unless, it's capital one, of course.

Answer 2

Answer:

The correct answer would be A, No Minimum Balance.

Explanation:

A youth account is a saving account which is being set up for kids up to the age of 19 to encourage savings. Kids over the age of 12 up till 19 manage their accounts whereas kids below the age of 12 maintain their youth accounts in the supervision of their parents. The main advantage of opening a youth account is the option of No minimum balance requirement. In this way, kids can start saving from small amounts as well.