(CBS DETROIT) – When it comes to celebrating the New Year — New Year’s babies will have a slight edge.

Ally Bank is offering $250 to babies born between Dec. 31, 2020 at 11:59 p.m. and Jan. 1, 2021 at 12:01 a.m.

READ MORE: Missed Gov. Whitmer's Press Conference? Here's Her Update On The State's Response To COVID-19

Families can claim the deal by opening up an online savings account with the bank.

A baby is eligible if it meets the following criteria:

  • The child must be born between 12:01 a.m. and 11:59 p.m. in local time on December 31, 2020
  • The baby must be a US citizen or a legal permanent resident
  • You must provide Ally with the baby’s social security number and birth certificate
  • You need to provide the mother’s maiden name
  • The baby should have a residential address in one of the 50 US states, Guam, or the US Virgin Islands

To open an account, visit here between Jan. 15, 2021 and July 31, 2021 to begin the process.

READ MORE: Michigan Reports 7,955 New COVID-19 Cases, 33 Deaths Wednesday

According to UNICEF, about 11,000 New Year’s babies were born in the U.S. last year.

MORE FROM CBS DETROIT: Stimulus Package Update: When Will The Checks Start Arriving?

MORE FROM CBS DETROIT: Missed Gov. Whitmer’s Press Conference? Here’s Her Update On The State’s Response To COVID-19

MORE FROM CBS DETROIT: Man Critical After Crash At Intersection In Detroit

MORE NEWS: Detroit Chief: Rep. Tlaib’s Tweets About Police ‘Disgusting’

© 2020 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.