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Best Savings Accounts for Children in America

We check thousands of banks daily, providing our most comprehensive rate comparison chart. Our savings accounts are FDIC insured up to $250,000, making your deposit the safest in the world. Confidently select the highest yield accounts from our curated selection and start earning more interest today.

Advertiser Disclosure · Featured Offers

Savings & MMA Featured Offers

4.30% APY
Rates as of 4/17/2024
  • Min to Earn APY: $1
  • Rate: 4.21%
  • No Monthly Fees
  • Write Checks: No
5.00% APY
Rates as of 4/17/2024
  • No minimum to earn APY
  • Rate: 5.00%
  • No Monthly Fees
  • Write Checks: No
5.15% APY
Rates as of 4/17/2024
  • No minimum to earn APY
  • Rate: 5.02%
  • No Monthly Fees
  • Write Checks: No
5.05% APY
Rates as of 4/17/2024
  • Min to Earn APY: $5,000
  • Rate: 4.93%
  • No Monthly Fees
  • Write Checks: No
4.35% APY
Rates as of 4/17/2024
  • No minimum to earn APY
  • Rate: 4.35%
  • No Monthly Fees
  • Write Checks: No
More Banks APY Rate For APY As of date
Burke & Herbert Bank & Trust Company MMA $10k 0.01% 0.01% $10,000 4/17/2024
Truist MMA $10k 0.01% 0.01% $10,000 4/17/2024
Amerant Bank MMA $10k 0.01% 0.01% $10,000 4/17/2024
Bank of Hope MMA 0.01% 0.01% $2,500 4/17/2024
Bank of Hope Savings 0.01% 0.01% $500 4/17/2024
Burke & Herbert Bank & Trust Company MMA 0.01% 0.01% $100 4/17/2024
Bank of America Savings 0.01% 0.01% $100 4/17/2024
Amerant Bank MMA 0.01% 0.01% $100 4/17/2024
Truist Savings 0.01% 0.01% $50 4/17/2024
Truist MMA 0.01% 0.01% $50 4/17/2024
Wells Fargo Savings 0.01% 0.01% $25 4/17/2024
USAA Federal Savings Bank Savings 0.01% 0.01% $25 4/17/2024
Applied Bank MMA 0.02% 0.02% $500 4/17/2024
TD Bank, NA Savings 0.02% 0.02% $1 4/17/2024
TD Bank, NA Savings $10k 0.02% 0.02% $10,000 4/17/2024
TD Bank, NA Savings $25k 0.02% 0.02% $25,000 4/17/2024
Armed Forces Bank, N.A. Savings $25k 0.03% 0.03% $25,000 4/17/2024
Burke & Herbert Bank & Trust Company MMA $25k 0.03% 0.03% $25,000 4/17/2024
Armed Forces Bank, N.A. Savings $10k 0.03% 0.03% $10,000 4/17/2024
Armed Forces Bank, N.A. Savings 0.03% 0.03% $25 4/17/2024
United Bank Savings 0.05% 0.05% $50 4/17/2024
Applied Bank Savings 0.05% 0.05% $100 4/17/2024
Union Bank (Michigan) Savings 0.05% 0.05% $50 4/17/2024
Pendleton Community Bank, Inc. Savings 0.05% 0.05% $50 4/17/2024
Burke & Herbert Bank & Trust Company Savings 0.05% 0.05% $50 4/17/2024
State Department Federal Credit Union Savings 0.05% 0.05% $1 4/17/2024
Amerant Bank Savings 0.05% 0.05% $50 4/17/2024
Washington Savings Bank Savings 0.05% 0.05% $50 4/17/2024
Northwest Federal Credit Union Savings 0.05% 0.05% $1 4/17/2024
America First FCU Savings 0.05% 0.05% $1 4/17/2024
Langley FCU Savings 0.05% 0.05% $100 4/17/2024
Langley FCU MMA 0.05% 0.05% $100 4/17/2024
Northwest Federal Credit Union Savings $25k 0.05% 0.05% $25,000 4/17/2024
Old Dominion National Bank Savings 0.05% 0.05% $100 4/17/2024
Washington Savings Bank MMA 0.05% 0.05% $2,500 4/17/2024
Pendleton Community Bank, Inc. Savings $25k 0.05% 0.05% $25,000 4/17/2024
Burke & Herbert Bank & Trust Company Savings $25k 0.05% 0.05% $25,000 4/17/2024
State Department Federal Credit Union Savings $25k 0.05% 0.05% $25,000 4/17/2024
Langley FCU Savings $25k 0.05% 0.05% $25,000 4/17/2024
Pendleton Community Bank, Inc. Savings $10k 0.05% 0.05% $10,000 4/17/2024
Burke & Herbert Bank & Trust Company Savings $10k 0.05% 0.05% $10,000 4/17/2024
State Department Federal Credit Union Savings $10k 0.05% 0.05% $10,000 4/17/2024
Langley FCU Savings $10k 0.05% 0.05% $10,000 4/17/2024
Northwest Federal Credit Union Savings $10k 0.05% 0.05% $10,000 4/17/2024
Bethpage Federal Credit Union Savings $10k 0.10% 0.10% $10,000 4/17/2024
Schools First FCU Savings 0.10% 0.10% $5 4/17/2024
Bethpage Federal Credit Union Savings 0.10% 0.10% $5 4/17/2024
Apple Federal Credit Union Savings 0.10% 0.10% $5 4/17/2024
Connexus Credit Union Savings 0.10% 0.10% $100 4/17/2024
Schools First FCU Savings $10k 0.10% 0.10% $10,000 4/17/2024
Bethpage Federal Credit Union Savings $25k 0.10% 0.10% $25,000 4/17/2024
Apple Federal Credit Union Savings $10k 0.10% 0.10% $10,000 4/17/2024
Schools First FCU Savings $25k 0.10% 0.10% $25,000 4/17/2024
Old Dominion National Bank Savings $10k 0.10% 0.10% $10,000 4/17/2024
Apple Federal Credit Union Savings $25k 0.10% 0.10% $25,000 4/17/2024
Old Dominion National Bank Savings $25k 0.10% 0.10% $25,000 4/17/2024
CIBC Bank USA MMA 0.15% 0.15% $1 4/17/2024
Union Bank (Michigan) Savings $10k 0.15% 0.15% $10,000 4/17/2024
Union Bank (Michigan) Savings $25k 0.20% 0.20% $25,000 4/17/2024
WebBank Savings 0.25% 0.25% $1,000 4/17/2024
Wells Fargo MMA 0.25% 0.25% $25 4/17/2024
Sandy Spring Bank Savings 0.25% 0.25% $25 4/17/2024
Wells Fargo MMA 0.25% 0.25% $50 4/17/2024
Northpointe Bank Savings 0.25% 0.25% $100 4/17/2024
TAB Bank MMA 0.25% 0.25% $25 4/17/2024
Presidential Bank, FSB MMA 0.25% 0.25% $1,000 4/17/2024
Connexus Credit Union MMA 0.25% 0.25% $1,000 4/17/2024
Axos Bank MMA 0.25% 0.25% $1,000 4/17/2024
Lone Star Bank MMA 0.25% 0.25% $250 4/17/2024
Sandy Spring Bank MMA 0.25% 0.25% $2,500 4/17/2024
Axos Bank MMA $10k 0.25% 0.25% $10,000 4/17/2024
CIBC Bank USA MMA $10k 0.25% 0.25% $10,000 4/17/2024
Wells Fargo MMA $10k 0.25% 0.25% $10,000 4/17/2024
Sandy Spring Bank MMA $10k 0.25% 0.25% $10,000 4/17/2024
Sandy Spring Bank Savings $10k 0.25% 0.25% $10,000 4/17/2024
Sandy Spring Bank MMA $25k 0.25% 0.25% $25,000 4/17/2024
Sandy Spring Bank Savings $25k 0.25% 0.25% $25,000 4/17/2024
Northpointe Bank MMA 0.25% 0.25% $2,500 4/17/2024
Presidential Bank, FSB MMA $10k 0.30% 0.30% $10,000 4/17/2024
First Horizon Bank Savings 0.30% 0.30% $50 4/17/2024
First Horizon Bank Savings $10k 0.30% 0.30% $10,000 4/17/2024
First Horizon Bank Savings $25k 0.30% 0.30% $25,000 4/17/2024
Woodforest National Bank MMA $25k 0.35% 0.35% $25,000 4/17/2024
Northpointe Bank Savings $10k 0.35% 0.34% $10,000 4/17/2024
Northpointe Bank MMA $10k 0.35% 0.34% $10,000 4/17/2024
Woodforest National Bank MMA $10k 0.35% 0.35% $10,000 4/17/2024
Woodforest National Bank Savings 0.35% 0.35% $25 4/17/2024
Woodforest National Bank MMA 0.35% 0.35% $25 4/17/2024
Langley FCU MMA $10k 0.40% 0.40% $10,000 4/17/2024
Lone Star Bank Savings 0.40% 0.40% $200 4/17/2024
GTE Financial Credit Union MMA 0.40% 0.40% $1 4/17/2024
Union Bank (Michigan) MMA $25k 0.45% 0.45% $25,000 4/17/2024
Union Bank (Michigan) MMA $10k 0.45% 0.45% $10,000 4/17/2024
Union Bank (Michigan) MMA 0.45% 0.45% $5,000 4/17/2024
Charles Schwab Bank Savings 0.48% 0.48% $0 4/17/2024
First Horizon Bank MMA $25k 0.50% 0.50% $25,000 4/17/2024
First Horizon Bank MMA $10k 0.50% 0.50% $10,000 4/17/2024
Woodforest National Bank Savings $10k 0.50% 0.50% $10,000 4/17/2024
Presidential Bank, FSB Savings 0.50% 0.50% $500 4/17/2024
First Horizon Bank MMA 0.50% 0.50% $50 4/17/2024
Apple Federal Credit Union MMA 0.50% 0.50% $5 4/17/2024
Boeing Employees Credit Union Savings 0.50% 0.50% $1 4/17/2024
Woodforest National Bank Savings $25k 0.50% 0.50% $25,000 4/17/2024
Axos Bank Savings 0.61% 0.61% $250 4/17/2024
Northwest Federal Credit Union MMA 0.64% 0.64% $1 4/17/2024
Northwest Federal Credit Union MMA $10k 0.64% 0.64% $10,000 4/17/2024
GTE Financial Credit Union MMA $10k 0.65% 0.65% $10,000 4/17/2024
Fulton Bank, NA MMA 0.70% 0.70% $1,000 4/17/2024
Northwest Federal Credit Union MMA $25k 0.72% 0.72% $25,000 4/17/2024
Schools First FCU MMA 0.75% 0.75% $2,000 4/17/2024
FinWise Bank MMA 0.75% 0.75% $1,000 4/17/2024
FinWise Bank Savings 0.75% 0.75% $500 4/17/2024
GTE Financial Credit Union Savings 0.75% 0.75% $100 4/17/2024
First Internet Bank of Indiana Savings 0.81% 0.80% $25 4/17/2024
Amalgamated Bank Savings 0.81% 0.81% $0 4/17/2024
Langley FCU MMA $25k 0.90% 0.90% $25,000 4/17/2024
Bethpage Federal Credit Union MMA 1.00% 1.00% $500 4/17/2024
Schools First FCU MMA $25k 1.00% 0.99% $25,000 4/17/2024
Amalgamated Bank MMA 1.00% 1.00% $100 4/17/2024
Schools First FCU MMA $10k 1.00% 0.99% $10,000 4/17/2024
Old Dominion National Bank MMA 1.00% 1.00% $1,000 4/17/2024
Bethpage Federal Credit Union MMA $25k 1.00% 1.00% $25,000 4/17/2024
Bethpage Federal Credit Union MMA $10k 1.00% 1.00% $10,000 4/17/2024
Old Dominion National Bank MMA $10k 1.00% 1.00% $10,000 4/17/2024
Old Dominion National Bank MMA $25k 1.00% 1.00% $25,000 4/17/2024
Vio Bank Savings 1.10% 1.09% $100 4/17/2024
Fulton Bank, NA MMA $10k 1.15% 1.14% $10,000 4/17/2024
State Department Federal Credit Union MMA $10k 1.21% 1.20% $10,000 4/17/2024
State Department Federal Credit Union MMA 1.21% 1.20% $2,000 4/17/2024
Amalgamated Bank Savings $10k 1.26% 1.25% $10,000 4/17/2024
State Department Federal Credit Union MMA $25k 1.26% 1.25% $25,000 4/17/2024
Amalgamated Bank Savings $25k 1.26% 1.25% $25,000 4/17/2024
Armed Forces Bank, N.A. MMA 1.30% 1.29% $25 4/17/2024
Fulton Bank, NA MMA $25k 1.35% 1.34% $25,000 4/17/2024
Banesco USA Savings 1.35% 1.34% $300 4/17/2024
Armed Forces Bank, N.A. MMA $10k 1.50% 1.49% $10,000 4/17/2024
BankPurely, a division of Flushing Bank Savings 1.50% 1.49% $100 4/17/2024
Bank5 Connect Savings 1.50% 1.49% $100 4/17/2024
America First FCU MMA 1.50% 1.49% $1 4/17/2024
FinWise Bank MMA $10k 1.51% 1.50% $10,000 4/17/2024
CIT Bank, N.A MMA 1.55% 1.54% $100 4/17/2024
Apple Federal Credit Union MMA $10k 1.55% 1.54% $10,000 4/17/2024
Apple Federal Credit Union MMA $25k 1.60% 1.59% $25,000 4/17/2024
Armed Forces Bank, N.A. MMA $25k 1.60% 1.59% $25,000 4/17/2024
America First FCU MMA $10k 1.70% 1.69% $10,000 4/17/2024
Virginia Credit Union MMA $10k 1.90% 1.88% $10,000 4/17/2024
Boeing Employees Credit Union MMA $10k 2.02% 2.00% $10,000 4/17/2024
Boeing Employees Credit Union MMA 2.02% 2.00% $1 4/17/2024
Synchrony Bank MMA 2.25% 2.22% $1 4/17/2024
Virginia Credit Union MMA $25k 2.40% 2.37% $25,000 4/17/2024
Varo Bank Savings 3.00% 2.96% $1 4/17/2024
Northpointe Bank Savings $25k 3.25% 3.20% $25,000 4/17/2024
Northpointe Bank MMA $25k 3.25% 3.20% $25,000 4/17/2024
Pendleton Community Bank, Inc. MMA $25k 3.30% 3.25% $25,000 4/17/2024
First Internet Bank of Indiana MMA 3.77% 3.70% $100 4/17/2024
Discover Bank MMA 4.00% 3.92% $2,500 4/17/2024
Discover Bank MMA 4.00% 3.92% $0 4/17/2024
Quorum Federal Credit Union Savings 4.25% 4.17% $1 4/17/2024
Discover Bank Savings 4.25% 4.16% $0 4/17/2024
Capital One Savings 4.25% 4.25% $0 4/17/2024
Ally Bank MMA 4.25% 4.16% $0 4/17/2024
Ally Bank Savings 4.25% 4.16% $0 4/17/2024
Morgan Stanley Private Bank Savings 4.25% 4.16% $0 4/17/2024
EverBank MMA 4.30% 4.21% $0 4/17/2024
Live Oak Bank Savings 4.40% 4.31% $0 4/17/2024
Citizens Access Savings 4.50% 4.40% $1 4/17/2024
Sallie Mae Bank Savings 4.50% 4.40% $0 4/17/2024
Quontic Bank Savings 4.50% 4.40% $100 4/17/2024
Sallie Mae MMA 4.65% 4.54% $0 4/17/2024
FNBO Direct Savings 4.75% 4.65% $1 4/17/2024
Synchrony Bank Savings 4.75% 4.64% $1 4/17/2024
Valley Direct Savings 4.80% 4.69% $1 4/17/2024
Northern Bank Direct, a div of Northern Bank & Trust Company MMA 4.95% 4.84% $5,000 4/17/2024
Rising Bank Savings 5.00% 4.89% $1,000 4/17/2024
Quontic Bank MMA 5.00% 4.88% $100 4/17/2024
VirtualBank, a division of First Horizon Bank MMA 5.00% 4.89% $100 4/17/2024
Salem Five Direct Savings 5.01% 4.89% $10 4/17/2024
CIBC Bank USA Savings 5.01% 4.89% $1,000 4/17/2024
BankPurely, a division of Flushing Bank MMA 5.05% 4.93% $25,000 4/17/2024
Primis Bank Savings 5.07% 4.95% $1 4/17/2024
Western State Bank MMA 5.15% 5.02% $5,000 4/17/2024
Popular Direct Savings 5.15% 5.02% $100 4/17/2024
Banesco USA MMA 5.25% 5.12% $2,500 4/17/2024
CFG Community Bank MMA 5.25% 5.12% $1,000 4/17/2024
UFB Direct Savings 5.25% 5.12% $0 4/17/2024
Banesco USA MMA $10k 5.25% 5.12% $10,000 4/17/2024
Amalgamated Bank MMA $10k 5.25% 5.25% $10,000 4/17/2024
UFB Direct MMA 5.25% 5.12% $1 4/17/2024
TAB Bank Savings 5.27% 5.14% $0 4/17/2024
Vio Bank MMA 5.30% 5.16% $100 4/17/2024
BrioDirect Savings 5.35% 5.21% $5,000 4/17/2024
MyBankingDirect, a service of Flagstar Bank, N.A. Savings 5.55% 5.55% $500 4/17/2024
— Load More Rates —

What you'll need to open your new savings account

Compared to Top Banks

We represent great banks. Don't believe us?

Select a bank below to compare

Our Rates

Largest Banks

4.30%APY
VS
0.03%APY

American Express

For APY $1
APY 4.30% Rate as of 4/17/2024
Rate 4.21% Type Savings

Bank of America

For APY $25
APY 0.03% Rate as of 4/17/2024
Rate 0.03% Type Savings
5.00%APY
VS
0.01%APY

LendingClub

For APY $0
APY 5.00% Rate as of 4/17/2024
Rate 5.00% Type Savings

Chase Bank

For APY $25
APY 0.01% Rate as of 4/17/2024
Rate 0.01% Type Savings
5.15%APY
VS
0.01%APY

EverBank

For APY $0
APY 5.15% Rate as of 4/17/2024
Rate 5.02% Type Savings

USBank

For APY $25
APY 0.01% Rate as of 4/17/2024
Rate 0.01% Type Savings
5.05%APY
VS
0.05%APY

CIT Bank

For APY $5,000
APY 5.05% Rate as of 4/17/2024
Rate 4.93% Type Savings

Wells Fargo

For APY $25
APY 0.05% Rate as of 4/17/2024
Rate 0.05% Type Savings
4.35%APY
VS
0.05%APY

Barclays

For APY $0
APY 4.35% Rate as of 4/17/2024
Rate 4.35% Type Savings

USAA

For APY $25
APY 0.05% Rate as of 4/17/2024
Rate 0.05% Type Savings

Savings Accounts for Children

Benefits of a savings account for children

The one thing most children should be taught—though often, are not—is financial responsibility. Saving, setting goals, budgeting, and understanding how money works in our day-to-day lives. By opening a new children bank account, you give them ownership of their own money.

Open a savings account, help your children see their investments grow, and when they've obtained their goals, reward them with something they can buy.

It doesn't hurt that we represent some of the highest interest rates in banking. Many of our rates are 10 times higher than the national average. And, all investments are 100% insured by the FDIC up to $250,000.

Are these rates only for children?

Our rates are good for everyone. If you're not earning interest from your bank, we encourage you to sign up with a high yield savings account. Many local banks pay out 0.01% interest. Why not put your savings into an online bank and earn more?

See how our rates compare with the biggest banks below.

Why are some banks marked "Good for Children"?

These banks don't have a minimum deposit, or the minimum deposit is much lower than other rates. Some banks require a significant amount of money to earn the reported rate. Banks marked for children are easy to open with little to no investment.

To see how much is required to receive the reported rate, hover over "Rate Information" below the bank's logo. Look for the "To Open" amount.

When to start a savings account for children?

A good age to start teaching a child about money is between 6 and 8. You can start earlier with fake money, and teaching the concept of exchanging money for services. For example, make dinner a fake restaurant and have your children pay for the meal.

Starting as early as 6, children can earn an allowance, and invest that allowance into a bank account. They can start budgeting for their expenses, such as food, or rent.

Of course, it’s never too late to teach your child about money. Money is vital to our security and happiness. Any knowledge you can impart will be beneficial.

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