Best overallCapital One Kids Savings Account Learn MoreAge to open: under 18Interest rate: 2.5%, with no cap$0 to openNo maintenance feesWhy we picked it:Capital One’s Kids Savings Account delivers everything a parent could want in a place to stash their child’s funds: It’s easy to use, fee-free, and generously rewards kid savings of any size.
On your child’s 13th birthday, the account will be converted into a MyLife Teen Checking or MyLife Savings account.
Older savers should consider our best overall pick, the Capital One Kids Savings Account, or our choice for best teen savings account, the MySavings Youth Account from Chevron Financial Credit Union and Spectrum Credit Union.
For instance, a kid with $2,500 in the account would net $81 in a year vs. only $63 with Buy Side from WSJ’s best overall pick, Capital One’s Kids Savings account.
Also worth noting: Alliant’s adult offering, the High-Rate Savings account, is Buy Side from WSJ’s top choice for a credit union savings account thanks to its identical 3.1% payout and lack of fees.
Persons:
Kerri Anne Renzulli, don’t, One’s, USAlliance, Best, Foster, Alliant, Cookie, Elmo
Organizations:
Capital, Capital One’s, Financial, Union MyLife Savings, Savings, Kids, American Consumer Council, Chevron Financial Credit Union, Spectrum Credit Union, Chevron Federal Credit Union, Chevron Corporation, Bechtel Corporation, Federal, Foster Care, Bank, PNC Bank’s, PNC, D.C
Locations:
Washington