Best Kids, Student & Custodial Savings Account Rates — September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
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Top youth and student savings rates currently available include SPECTRA Credit UnionSPECTRA Credit Union1024 Saint Nicholas Dr, Waldorf, MD 20603A5.0 ★Texas Ratio: 9.23% offering Brilliant Kids Savings at 10.38% APY, and Alliance Credit Union Fenton, MOAlliance Credit Union Fenton, MO1280 S Highway Dr, Fenton, MO 63026 1913A+5.0 ★Texas Ratio: 3.54% offering Star Student Savings Club at 10.00% APY, and Panhandle Credit UnionPanhandle Credit Union2718 Martin Luther King Jr Blvd, Panama City, FL 32405 4408A+5.0 ★Texas Ratio: 0.77% offering Rising Tide Youth Share at 10.00% APY, and Lowell Firefighters Credit UnionLowell Firefighters Credit Union642 Chelmsford St, Lowell, MA 01851A+5.0 ★Texas Ratio: 0.00% offering Savings Club for Kids at 8.00% APY. Savings rates as of September 22, 2026 according to verified data from MonitorBankRates.
We evaluate every listed institution using proprietary Safety Grades, Star Ratings, and Texas Ratios — so you can choose wisely for your family’s future savers.
APYs reflect actual verified offers. Rates subject to change. Last Updated: September 22, 2026
Compare the Best Kids, Student & Custodial Savings Rates
No additional details available.
The first $500 on deposit will earn 9.57% interest for an APY of 10.00%. All funds above $500 on deposits will earn the same rate as a regular savings account. Member must redeem their filled sticker card in branch.
Balance: $5 - $1,000
No additional details available.
Balance: $25.00 - $2,500.00
Min. Balance to earn APY: $.01 to earn dividends
YouthSaver rate is 7.07% APY when paired with an adult with Local Advantage Plus Checking cosign.Youthsaver rate applies to first $500; default to Prime Share savings rate on those monies above $500. Available up to 18 years of age. 7.07% APY Rate is effective for first $500 when paired with an adult cosigner w/Local Advantage Plus Checking. Additional monies above $500 will earn the lower YouthSaver rate
No additional details available.
Balance: first $500; Dividends Compounded & Credited: Quarterly; Dividend Period: Quarterly
No additional details available.
Age: 0-21; Balances above $2,500.00 are paid the standard share savings rate.
Get a $25 bonus when your account balance reaches $1,000 * .
Age: 0-12; Balance: balances up to $3,000
Balance: $0 - $5,000.00
Age: 13-17; Balance: balances up to $3,000
Balance: $0.01 - $1,000.00; APY= Annual Percentage Yield. Rate may change after an account is opened. Must be 17 years old or younger to open with a parent or legal guardian. The account balance will automatically be transferred to a Primary Savings Account during the calendar quarter following their 18th birthday. Last Dividend Declaration Date for Youth Savings: June 23, 2026.
Published APY range: 5.88% to 5.99%. Balance: $1,000.01 - $1,044.68; APY= Annual Percentage Yield. Rate may change after an account is opened. Must be 17 years old or younger to open with a parent or legal guardian. The account balance will automatically be transferred to a Primary Savings Account during the calendar quarter following their 18th birthday. Last Dividend Declaration Date for Youth Savings: June 23, 2026.
Teen Savings Certificate minimum opening balance is $100. Additional deposits can be made up to $8,000 for the Teen Savings. The minimum additional deposit is $100. The Teen Savings matures on the teen's 18th birthday. Any withdrawal prior to maturity will result in a penalty of all dividends earned.
Interest applies to the first $500 deposited.
ages 0-17 or older with current Student ID
Youth Savings available to members under the age of 21 years old and earns 5.00% APY up to $1,000 deposited, Regular Share Savings rate for balances thereafter; at 21, Youth Savings converts to a Regular Share Savings account.
Join the Herd!
*
Balance: $0.01 - $5,000
on the first $1,000 on deposit
Balance: $0 - $500.00
For kids 7 and under - Prizes for deposits over $10 - Annual birthday surprise
Balance: $0.01 - $1,000.00
Balance: $100 - $2,500.00; Age: UP TO AGE 21
Balance: Up to $1,000
Balance: $0.00 to $1,000.00
Available to any minor with a Social Security Number. Must have a parent or legal guardian as Joint Owner. Joint Owner must be a member in good standing. Earns 5% APY on the first $500 when enrolled in Digital Banking and eStatements. Balances above $500 in qualifying accounts and any balance in a non-qualifying First500 account will earn the First500 Savings Base Rate. One First500 Account per Social Security Number.
Balance: $0.01-$499.99
Balance: $0.00 - $1,000.00
No additional details available.
Balance: $1 - $100
No additional details available.
Balance: $5-1,000
Specifically created for our members under 21 years old. Earns 5.00% APY on balances up to $1,000!
Balance: $5-$1,000
5.00% APY on balances up to $1,000; 5.00% to 3.21% APY on balances between $1,000 and $2,500 depending on balance in account; 3.21% to 0.50% APY on balances over $2,500 depending on balance in account; 1 free withdrawal per quarter; $25.00 fee for each additional withdrawal; Shared branching available; Funds insured by the NCUA
Balance: $0-$499.99
Variable Rate Information. The interest rate of the tier will be paid only for that portion of your daily balance that falls within the tier minimum and maximum. The annual percentage yield for each tier will vary, depending on the balance in the account. for example, an Optimum Student Savings account with a daily balance of $50,000 would earn an interest rate of 4.89% on the first $5,000. The account would earn an interest rate of 0.25% on the remaining $45,000. $0 maintenance service charge requirements: Maintain an active 1st Gold Student Checking account and transfer $25+ from your 1st Gold Student checking account to your Optimum Student Savings account at least once per month
Balance: Kids First Savings Daily Average Balance $1 - $500
Balance: <$2,000
Balance: $0 - $499.99
No additional details available.
Balances from $1.00 to $500 earn 5.00% APY. Balances over $500 will earn the current savings APY. Available for children 16 and under. Island Federal will contribute the first dollar to open the account.
No additional details available.
Balance: Up to $1,000
Balance: $0-$1,000.00
Balance: $5.00 - $999.99
Youth Savings Certificate minimum opening balance is $100. Additional deposits can be made up to $5,000 for the Youth Savings. The minimum additional deposit is $100. The Youth Savings matures on the child's 13th birthday. Any withdrawal prior to maturity will result in a penalty of all dividends earned.
No additional details available.
Balance: $0 - $1,000
APY 4.07%
For children 17 years old or younger. Account earns current Minor Savings account APY* on balances up to $10,000.00, a portion of balance over $10,000.00 will earn current APY* of a regular savings account. Interest is compounded monthly with statements. APY rate is good as of April 15, 2026, and may change at any time. Promo code 4205
Balance: $5.00 Minimum Balance; Balance: $5.00 Minimum Balance
Any amount over $500 with receive the Regular Savings Rate of .05% APY.
Balance: Up to $5,000
Balance: $0.01 to $5,000.00
Ages: 17 & Younger;<br/>Liquid Savings Account<br/> Can Add Funds At Anytime<br/> Can Withdraw Funds At Anytime
Balance: Up to $2,500
Balances of $.01 to $500.00
Balance: $2,000-$5,000
No additional details available.
Highest yield on balances up to $1,000. A blended APY is calculated based on balances in each earning tier. Dividend rates are variable and subject to change monthly after the account is opened. Apply for Youth Savings
Savings Rate Trends
Daily averages from thousands of rates across 8,500+ institutions.
Youth, Student & Custodial Savings Accounts
Opening a savings account for a child is one of the most impactful financial education tools available. Many banks and credit unions offer accounts specifically designed for young savers, featuring no monthly fees, low or no minimum balance requirements, and sometimes bonus APYs to reward regular deposits.
Custodial accounts (UGMA/UTMA) allow parents to invest on behalf of a minor — assets transfer to the child at adulthood. Student accounts target college-age customers with features like no overdraft fees and digital budgeting tools. Youth savings accounts typically serve children under 18 with parental co-ownership.
What to Look For in a Youth Savings Account
Prioritize: no monthly maintenance fees, low or zero minimum deposit, a competitive APY, educational resources for young account holders, and mobile app access. Credit unions often excel in this category, offering personalized service and community-focused programs. Many credit unions allow youth to join through a parent’s existing membership.
What a Kids or Student Savings Account Earns
Balances on these accounts are usually modest, so the headline APY matters less than the habit. Here is a year of interest at the high-yield savings average versus the top verified offer in our table — but read the balance-cap section below before choosing on rate alone.
| Balance | Earned in 1 Year at 1.97% APY High-yield savings average |
Earned at 10.38% APY Top offer in our table | Difference |
|---|---|---|---|
| $100 | $1.97 | $10.38 | $8.41 |
| $500 | $9.84 | $51.90 | $42.06 |
| $1,000 | $19.68 | $103.80 | $84.12 |
| $2,500 | $49.20 | $259.50 | $210.30 |
| $5,000 | $98.41 | $519.00 | $420.59 |
Assumes the rate holds for the full year with no withdrawals and monthly compounding. Youth account APYs are variable and very commonly capped — the advertised rate may apply only up to a limited balance, with the excess earning a much lower rate.
The Real Advantage Is Time, Not Rate
A child’s savings account has something no adult account has: decades of runway. Small, consistent deposits started early outrun a large deposit made late. Here is what $25 a month becomes at the current average of 1.97% APY, depending on how early it starts.
| Started at Age | Years of Saving | Total Deposited | Balance at 18 | Interest Earned |
|---|---|---|---|---|
| Age 2 | 16 years | $4,800 | $5,628.14 | $828.14 |
| Age 5 | 13 years | $3,900 | $4,435.00 | $535.00 |
| Age 8 | 10 years | $3,000 | $3,309.63 | $309.63 |
| Age 12 | 6 years | $1,800 | $1,907.93 | $107.93 |
| Age 15 | 3 years | $900 | $926.08 | $26.08 |
Assumes $25 deposited monthly, a constant APY, monthly compounding, and no withdrawals until age 18. Rates are variable over any real 16-year period, so treat this as an illustration of how compounding rewards an early start rather than a projection. For goals that far out, also compare a custodial brokerage or 529 account — over long horizons a savings APY typically trails inflation.
Read the Balance Cap Before You Chase the APY
Youth and student savings accounts frequently advertise APYs several times higher than any adult account — and those rates are real. The catch is almost always a balance cap. The headline rate applies only up to a limit, commonly a few hundred to a couple of thousand dollars, and every dollar above that earns a far lower ordinary rate.
That structure is deliberate and not unreasonable — institutions use it to teach saving habits without paying an outsized rate on large balances. But it changes how you should read a rate table. An account paying a very high APY capped at $500 will earn less in absolute dollars than a modest APY with no cap once the balance passes a few thousand. The rate that matters is the one your actual balance will earn.
Two practical steps. Check the cap and the rate above it before opening, since neither always appears in a rate table. And once the balance outgrows the cap, consider splitting it — keep the capped amount where it earns the premium rate and move the excess to a standard high-yield account or, for money not needed until adulthood, a longer-horizon vehicle.
Custodial, Joint, or Youth Savings: Who Owns the Money?
These three get used interchangeably in conversation, but they differ on the question that matters most — who legally owns the money, and what happens when the child turns 18.
| Youth / Minor Savings (joint) | Custodial UTMA / UGMA | Account in the Parent’s Name | |
|---|---|---|---|
| Legal Owner | Shared — child with an adult joint owner | The child — irrevocably | The parent |
| Can the Adult Withdraw? | ✓ Yes, as joint owner | ● Only for the child’s benefit | ✓ Yes, freely |
| Can It Be Taken Back? | ✓ Yes | ✗ No — gifts are irrevocable | ✓ Yes |
| What Happens at Majority | Usually converts to a standard account | ● Full control transfers to the child, no strings | Nothing — it stays the parent’s |
| Who Reports the Interest | Generally the child, by SSN on the account | The child — subject to rules on a minor’s unearned income | The parent |
| Typical Financial-Aid Treatment | Depends whose asset it is reported as | ✗ Counted as the student’s asset, assessed more heavily | ✓ Counted as a parental asset, assessed more lightly |
| Best For | Teaching saving with a real account and adult oversight | Long-term gifting you intend the child to keep | Money you may need to redirect later |
The irrevocability of a custodial UTMA/UGMA account is the point most often missed: the money legally belongs to the child from the moment it is gifted, and at the age of majority in your state they receive full control with no restriction on how it is used. A minor’s unearned income above an annual threshold can also be taxed at the parent’s marginal rate, and financial-aid formulas change periodically. This is general information, not tax, legal, or financial-aid advice — confirm the current rules with a qualified professional before choosing a structure.
About Our Kids, Student & Custodial Savings Database
This page tracks savings accounts designed for minors, students, and custodial arrangements, drawn from the thousands of verified rates in our database. Every APY is sourced directly from the institution’s own website and re-verified regularly. Because youth accounts are frequently capped and carry age limits, confirm the balance cap, the rate above it, and the age at which the account converts before opening.
The highest verified APY in our table right now is 10.38% APY from SPECTRA Credit Union. APYs on these accounts are variable — the institution can change the rate at any time without notice, so today’s leader may not lead next quarter.
Kids Savings Growth Calculator
See what regular deposits grow into over a childhood. Set a monthly addition and stretch the horizon out — the compounding, not the rate, is what does the work here.
Assumes the APY holds for the entire period and interest compounds monthly with no withdrawals. Youth account rates are variable and often capped at a maximum balance — if your balance exceeds the cap, real earnings will be lower than shown. Long horizons are illustrative rather than a forecast. A minor’s interest income may be taxable. Not a rate guarantee, an offer, or tax advice.
Methodology & Data Sources
Direct-Sourced & Verified Rate Data: We aggregate youth, student, and custodial savings rates directly from bank and credit union websites using our proprietary rate aggregation technology. By pulling data straight from institutions’ own digital properties and manually verifying yields daily, every rate on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and Coast-to-Coast Coverage: Our systems monitor the market to provide a complete picture of available youth savings yields across the country. Youth accounts are frequently offered by local community banks and credit unions, so using the state filter above is particularly effective for this product type.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update savings rates daily. Every product listed features its own specific “last updated” date for full transparency.
Proprietary Institution Health & Safety Grades: MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio.
Savings Calculators
Frequently Asked Questions about Youth & Student Savings
What is a custodial savings account?
Can a minor open a savings account on their own?
Are youth savings accounts FDIC insured?
What is the difference between a youth and a student account?
Do kids savings accounts earn good interest rates?
What happens to a custodial account when the child turns 18?
What should I look for in a youth savings account?
What are the best Youth Savings rates right now?
- SPECTRA Credit Union
Brilliant Kids Savings — 10.38% APY - Alliance Credit Union Fenton, MO
Star Student Savings Club — 10.00% APY - Panhandle Credit Union
Rising Tide Youth Share — 10.00% APY - Lowell Firefighters Credit Union
Savings Club for Kids — 8.00% APY - Simplicity Credit Union
Youth and Young Adult Savings — 7.19% APY
More Savings Rate Options
