Best Kids, Student & Custodial Savings Account Rates — October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Finance Calculators
Youth and student savings account rates range from 4.00% to 10.00% APY, verified by MonitorBankRates as of October 13, 2026. Top youth and student savings rates currently available include Panhandle Credit UnionPanhandle Credit Union2718 Martin Luther King Jr Blvd, Panama City, FL 32405 4408A+5.0 ★Texas Ratio: 1.07% offering Rising Tide Youth Share at 10.00% APY, and Alliance Credit Union Fenton, MOAlliance Credit Union Fenton, MO1280 S Highway Dr, Fenton, MO 63026 1913A+5.0 ★Texas Ratio: 4.70% offering Star Student Savings Club at 10.00% APY, and Maspeth Federal S&LMaspeth Federal S&L5618 69th St, Maspeth, NY 11378A+5.0 ★Texas Ratio: 3.58% offering Youth Savings at 10.00% APY, and Century Credit UnionCentury Credit Union1540 LEMAY FERRY RD, SAINT LOUIS, MO 63125 2405A+5.0 ★Texas Ratio: 1.27% offering Youth Savings at 10.00% APY. Savings rates as of October 13, 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: October 13, 2026
Compare the Best Kids, Student & Custodial Savings Rates
Rate = 0.050% | APY* 0.05% for balances $1,000.01 & over.
Ages: 0-12; Balance: $0.00 - $500.00; Rate of 9.57% gives 10.00% APY on the first $500; funds above $500 earn the regular savings rate; $1 for each A or B on semester report card; maximum payout $25/year per youth account; open at any branch
Balance: $1 - $6000
Super-high dividends paid on balances up to $1,000. Cash rewards for deposits $1-$10 awarded at different transaction intervals. Financial incentives for good grades Up to $20 each year. High dividends are paid out quarterly. Cash is awarded and electronically deposited into your child's account after their 6th, 12th, 18th and 24th in-person deposits of $5 or more. Your child can receive $1 for every 'A' or equivalent earned, up to $5 per quarter.
Balance: $25.00 - $2,500.00; Dividend Paid: Quarterly
Balance: $.01 to earn dividends
Earns 7.00% APY on balances up to $500; Regular savings rate applies to balances above $500; Youth account for ages 0-19 with parent/guardian joint signer; Dividends compounded and credited quarterly
Balance: $0-$1500.00
Youth up to age 261/2 earn a preferred rate on balances up to $1,000.
APY (as high as); Student defined as child 18 years or younger; only one student share per qualifying SSN
Balance: Up to $10,000.00; Promotional rate on first $10,000.00; balances above $10,000.00 earn the regular Money Market rate; no minimum balance required to earn dividends; dividends paid monthly
Balance: $5 - $500
Ages: 0-12; Balance: up to $3,000
Ages: 13-17; Balance: up to $3,000
Get a $25 bonus when your account balance reaches $1,000
Balance: $0 - $5,000.00
High-Yield Youth Savings account is only for members from ages 0-21. No minimum balance. Balances above $2,500.00 are paid the standard share savings rate.
Balance: $0.01 - $1,000.00; Must be 17 years old or younger to open with a parent or legal guardian; Rate may change after account is opened
Published APY range: 5.88% to 5.99%. Balance: $1,000.01 - $1,044.68; Must be 17 years old or younger to open with a parent or legal guardian; Rate may change after account is opened
Balance: $100.00 and over; Additional deposits up to $8,000; Minimum additional deposit $100; Matures on teen's 18th birthday; Withdrawal before maturity incurs penalty of all dividends earned
Ages: under 12; Balance: $0.00 - $500.00; First $500 deposited earns 5.25% interest
ages 0-17 or older with current Student ID
Balance: $5 - $1,000; Available to members under age 21; Regular Share Savings rate on balances above $1,000; converts to Regular Share Savings at age 21
Balance: $0 to $1000
Earn up to 5.12 % APY*
No additional details available.
- Oct 4, 20265.10%▲ from 0.23%
- Sep 14, 20260.23%first recorded
Qualifying balance up to $500.00; Special interest rate of 5.10% APY up to the first $500 in the savings account; balances above $500 paid at current rate
Balance: $0.01 - $5,000
on the first $1,000 on deposit
Balance: $0 - $500.00
Debit Card: Yes; For kids 7 and under; Prizes for deposits over $10; Annual birthday surprise
Featured rate in Alltru Savings Accounts section on Money Market page
Balance: $0.01 - $1,000.00
Ages: 0-16; Balance: $1.00 - $500.00; Balances over $500 earn the current savings APY; blended dividend rate limited to one account per unique minor/joint ownership; Variable rate account
Balance: $0-500; Tier 1; Compounding: Quarterly
Balance: $1 - $100
Maximum monthly deposit of $100; restricted to primary members under age 18
Balance: $0.01-$499.99; Split rate account
Balance: $0-500; Tier 1; Compounding: Quarterly
Balance: 0-$500
Balance: $100 - $2,500.00; Up to age 21
Balance: $0.00 to $1,000.00; Dividends declared, paid and compounded monthly; Tiered rate on average daily balance of $0.01 to $1,000.00
Balance: $0-$1,000.00; Blended APY; Limit one Youth Savings account per member
Balance: $0.01 to $1,000.00
Balance: $0-$499.99
Balance: $0.00 - $500.00
Youth Share Account for members under 21; qualifying balance up to $1,000.00
Open a savings to start your child's or grandchild's bright future. We'll give you $10 to get started! An extra birthday gift on top of their birthday deposits - When they deposit $25 or more within 30 days of their birthday, we'll deposit $10 in their savings. Access complementary products like Greenlight and our exclusive 5.00% APY CD! No monthly or maintenance charges. Online banking with mobile check deposit, Zelle, bill pay and more.
Balance: $5-1,000; Minimum Required to Earn APY: $5
Special rate applies only on the first $500 deposited as long as member meets all requirements. Requirements: age 19 or younger, valid government issued photo ID or social security number for minors, parent or legal guardian joint on account. At age 20 balance transfers to prime share account. Deposits over $500.00 earn the regular share savings rate.
Balance: $1 - $100
Balance: Up to $1,000
Qualifications Required: Digital Banking and eStatements; First500 Youth Savings Accounts are 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. 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. Rates subject to change without notice. Call us for current rates, or visit firstent.org/rates . Earned dividends are reported as income under the minor's name and Social Security Number. Transactions can only be performed by the account custodian. Custodian can close the account anytime, as long as it is in the best interest of the minor. Due to the nature of custodial accounts, they cannot be opened online at this time. For assistance, please give us a call at 888.800.3328 or schedule an appointment to meet with one of our branch staff. Balance: up to $500.00
If your daily balance is $500 or less - 5.00% Annual Percentage Yield (APY).No; For more than one withdrawal per month, you will be charged $1.00 per withdrawal.
- Oct 7, 20265.00%▲ from 2.50%
- Sep 29, 20262.50%first recorded
Balance: $0.00 - $1,000.00
Qualifications Required: 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; Optimum Student Savings; 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: $0.00 - $499.99; Minimum Required Balance: $5
Balance: $1 - $500; Daily Average Balance
Age: 0-18; 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
Balance: Up to $1,000; Youth savings account for kids under 18
Balance: $0.01 - $500.00; Compound Frequency: Monthly
Balance: <$2,000; APY applies to balances up to $1,000
Balance: up to $1,000.00; APY applies to balances up to $1,000; balances over $1,000 revert to the standard savings rate
APYRange: 0.00% - 4.60%; Balance: $0.01 - $1,000.00
Balance: $5.00 - $999.99
No additional details available.
Balance: $100.00 and over; Additional deposits up to $5,000; Minimum additional deposit $100; Matures on child's 13th birthday; Withdrawal before maturity incurs penalty of all dividends earned
Rate is effective as of August 31, 2023. An interest rate of .01% will be paid only for that portion of your daily balance that is greater than $1000.00. The annual percentage yield for this tier will range from 4.50% to .01%, depending on the balance in the account. (APY calculations are based on a total deposit balance of $1,000.) Fees could reduce earnings. Rates are variable and are subject to change at the bank's discretion. Rates are calculated on a daily balance method. Limited to one Kid's Grow Savings account per child social security number. At the age of sixteen (16), the account will be converted to a Future Progressive Savings account.
Range: $5.00; for members under 18; matures on child's 18th birthday to primary share/savings; Dividend Rate 4.25%, APY 4.32%
No additional details available.
Balances below $1,000 pays 4.07% APY*; Balances $1,000 and above pays 4.07% to 0.29% APY*
Balance: $.01 - $999.99
Earns current Minor Savings APY on balances up to $10,000.00; a portion of balance over $10,000.00 earns current APY of a regular savings account; for children 17 years old or younger; one minor account per child; interest compounded monthly
Balance: $5.00 Minimum Balance; 1
Any amount over $500 with receive the Regular Savings Rate of .05% APY.
Balance: $5 - $500
- Sep 25, 20264.06%▲ from 0.15%
- Sep 12, 20260.15%first recorded
Balance: $.01 - $500.00
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 1.96% APY High-yield savings average |
Earned at 10.00% APY Top offer in our table | Difference |
|---|---|---|---|
| $100 | $1.96 | $10.00 | $8.04 |
| $500 | $9.79 | $50.00 | $40.21 |
| $1,000 | $19.58 | $100.00 | $80.42 |
| $2,500 | $48.96 | $250.00 | $201.04 |
| $5,000 | $97.92 | $500.00 | $402.08 |
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 1.96% 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 | $5,623.61 | $823.61 |
| Age 5 | 13 years | $3,900 | $4,432.13 | $532.13 |
| Age 8 | 10 years | $3,000 | $3,308.00 | $308.00 |
| Age 12 | 6 years | $1,800 | $1,907.37 | $107.37 |
| Age 15 | 3 years | $900 | $925.95 | $25.95 |
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 10.00% APY from Panhandle 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?
- Panhandle Credit Union
Rising Tide Youth Share — 10.00% APY - Alliance Credit Union Fenton, MO
Star Student Savings Club — 10.00% APY - Maspeth Federal S&L
Youth Savings — 10.00% APY - Century Credit Union
Youth Savings — 10.00% APY - Simplicity Credit Union
Youth and Young Adult Savings — 7.19% APY
More Savings Rate Options
