Features
-
All contributions to ESAs are
tax-free
-
Unlimited number of separate
accounts can be opened for the
same beneficiary
-
Accounts can help any
beneficiary under the age of 18
or with special needs
-
Can be used to pay for
elementary, secondary, and
post-secondary education
How to Get Started
Contact an ISB banker today for
details!
Account Requirements and Charges
-
Minimum balance of $100 required
to open any ISB deposit account.
-
Account contributions allowed
until beneficiary turns 18
(unless beneficiary has special
needs)
-
Funds must be used before
beneficiary's 30th birthday
(unless beneficiary has special
needs)
-
Must maintain a minimum of $1
each day to obtain APY*. $1
monthly service charge - This
service charge is waived if:
-
Average balance of $100
or greater
- - OR -
-
Primary account holder
is under age 18
Fees may reduce earnings. Fees
may reduce earnings. Service
charges are subject to both
state and local sales tax. This
information is not a Truth in
Savings disclosure. Ask a bank
representative for Truth in
Savings disclosures, account
details, restrictions,
processing limitations and
enrollment instructions. *APY =
Annual Percentage Yield; APY
accurate as of 9/1/2019 and is
subject to change